Daily Technical Report

September 30, 2015

Sensex (25779) / Nifty (7843)

Exhibit 1: Nifty Daily Chart

Yesterday, the Nifty started the session with the deep cut of a
percent on back of negative cues from global bourses. The
index remained under pressure in the initial hour of the
trading and breached 7700 levels with an ease. But, post the
50 bps repo rate cut by RBI, the index rallied stridently and
moved above 7900 levels. However, due to sharp correction
seen in the concluding hour, the Nifty trimmed off most of its
intraday gains and ended the session with the loss of 0.61
percent. Amongst the sectoral indices, the Realty, Banking and
Auto were the major gainers; whereas, the Metals, Healthcare,
and Oil & Gas sectors were major draggers. The advance to
decline ratio was marginally in favor of the declining counters.
(A=1250 D=1356) (Source: www.bseindia.com).
Formations

The 89-day EMA and the 89-week EMA are placed

at 26992 / 8184 and 25909 / 7812 levels, respectively.

The 20-day EMA and the 20-week EMA are placed Source: Falcon
at 26003 / 7904 and 27060 / 8204 levels, respectively.

Actionable points:
Trading strategy:
Post the negative opening owing to the negative global cues,

View

the indices were in control of the bears till the minute of

outcome RBI policy action. The RBI surprised the markets with

Resistance Levels

7950 - 8000

Support Level

7740 - 7690

Neutral

a 50 bps cut in repo rate which led to a sharp recovery in the

market. Despite the recovery from lower levels, there is no
significant sign of reversal on the charts. We had advised in
our yesterday's report that even if RBI comes out with some
surprise, traders should not get carried away with the pullback
move and should avoid taking aggressive long positions. We
continue to maintain our 'Sell on Rallies' stance on the market
and hence advise traders to stay cautious on the pullback
moves. The immediate support for the Nifty index is placed
around 7740 and 7690 whereas the range of 7950-8000 is a
strong resistance zone.

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Daily Technical Report

September 30, 2015

Exhibit 2: Bank Nifty Daily Chart

Bank Nifty Outlook - (17281)

Yesterday, the Bank Nifty opened with the downside gap of
more than 200 points and started falling from the initial
trades. The index and the individual stocks from the sector
drifted lower till the announcement of the RBIs policy
action. However, on announcement of 50 bps cut in repo
rate, the index rallied higher sharply. The banking index then
outperformed broader indices and ended the session with
gains of 1.06 percent. Though the trend remains negative, a
pullback towards 17550 17700 cannot be ruled out. Thus,
we advise traders to stay cautious and avoid aggressive
fresh longs at current levels. The immediate support for the
index is placed around 17100 and 16850.

Actionable points:

View

Neutral

Resistance Levels

17550 - 17700

Support Levels

17100 - 16850

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Source: Falcon

Daily Technical Report

September 30, 2015

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

S2

S1

PIVOT

R1

R2

SENSEX

24,940

25,359

25,707

26,126

26,474

NIFTY

7,585

7,714

7,820

7,950

8,056

BANKNIFTY

16,317

16,799

17,130

17,612

17,943

ACC

1,281

1,304

1,325

1,348

1,368

AMBUJACEM

191

197

202

208

214

ASIANPAINT

768

787

798

816

828

AXISBANK

473

489

501

517

530

BAJAJ-AUTO

2,161

2,206

2,250

2,294

2,338

BANKBARODA

175

181

185

191

195

BHARTIARTL

310

317

322

328

333

BHEL

188

193

197

201

205

18,378

18,968

19,673

20,263

20,968

BPCL

820

834

857

871

894

CAIRN

141

143

146

147

150

CIPLA

620

628

637

645

653

COALINDIA

295

305

311

321

328

3,956

4,019

4,083

4,146

4,210

281

286

290

295

298

GRASIM

3,321

3,381

3,440

3,500

3,559

HCLTECH

931

942

951

963

972

HDFC

1,122

1,169

1,200

1,248

1,279

HDFCBANK

1,006

1,035

1,055

1,084

1,103

HEROMOTOCO

2,265

2,297

2,334

2,366

2,403

HINDALCO

66

67

69

70

71

HINDUNILVR

769

777

789

796

809

ICICIBANK

250

259

266

276

282

IDEA

134

137

140

142

145

INDUSINDBK

877

909

934

966

990

BOSCHLTD

DRREDDY
GAIL

INFY

1,082

1,102

1,118

1,138

1,153

ITC

313

317

321

325

329

KOTAKBANK

611

631

644

664

677

LT

1,389

1,417

1,441

1,470

1,494

LUPIN

1,931

1,973

2,006

2,048

2,081

M&M

1,166

1,208

1,243

1,285

1,321

MARUTI

4,357

4,520

4,630

4,793

4,903

NMDC

87

89

91

93

95

NTPC

117

119

121

123

125

ONGC

214

220

224

230

234

PNB

128

131

134

138

141

POWERGRID

123

126

128

131

133

RELIANCE

815

828

839

852

863

SBIN

227

234

240

247

253

VEDL

83

85

87

88

90

SUNPHARMA

829

839

850

859

871

TATAMOTORS

272

280

288

296

303

TATAPOWER

63

64

65

67

68

TATASTEEL

196

199

203

206

210

2,533

2,561

2,597

2,625

2,662

TCS
TECHM

556

563

570

577

583

2,558

2,634

2,698

2,774

2,838

WIPRO

578

583

590

596

603

YESBANK

684

711

730

757

776

ZEEL

371

381

387

397

404

ULTRACEMCO

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Daily Technical Report

September 30, 2015
Research Team Tel: 022 - 30940000

E-mail: sameet.chavan@angelbroking.com

Website: www.angelbroking.com

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Sameet Chavan

Technical Analyst

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