Daily technical outlook_for_01st_october_2014

DAILY TECHNICAL OUTLOOK

SWASTIKA INTELLIGENCE GROUP 01st October 2014

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NIFTY: 7964 (+0.07%)

Bulls are losing their confidence to hold on gains where below 7900mark bears are likely to celebrate a correction. S

STRATEGY FOR TRADERS:

7925-7895 is immediate support zone below this deeper correction is expected; since direction is not clear

so traders are advised to sell below 7925mark or can remain mildly bullish till 7900 is being hold.

Daily Nifty Levels R1: 7990 R2: 8025 R3: 8050

Pivot: 7973 S1: 7925 S2: 7875 S3: 7840

CHART FORMATIONS:

Nifty is facing strong resistance in 8000-8050

resistance zone.

7925 is immediate support below this nifty is

vulnerable to head for support of 7840mark.

Nifty ends with indecisive small doji candlestick

formation.

50-day SMA is placed at 7898mark which is

immediate support while 9-day and 20-day EMA

both are placed at 8000mark which is immediate

resistance level.

TECHNICAL INDICATORS:

Momentum indicator RSI is holding support of

40mark whereas stochastic witnessed positive

crossover.

CCI is negatively poised while MACD is still holding

positive terrain.




BANKNIFTY FUT: 15475 (-0.43%)

Texture is weak and Banknifty is vulnerable for any fall till it trades below 15800mark

STRATEGY FOR TRADERS:

Banknifty is showing signs of weakness where short position is advised below 15400mark with stop loss at

15550.

Daily Banknifty Levels R1: 15550 R2: 15690 R3: 15785

Pivot: 15523 S1: 15400 S2: 15280 S3: 15190

CHART FORMATIONS:

Banknifty is facing strong resistance at horizontal

resistance line placed at 15800mark.

Banknifty ends with spinning body candlestick

formation.

Banknifty is trading near its 100-day SMA of

15380mark.

Banknifty has to face resistance at 9-day EMA

placed around 15720mark.

TECHNICAL INDICATORS:

Momentum indicators RSI and stochastic both are

still negatively poised.

CCI is trading below zero line whereas MACD

witnessed centerline crossover in downside.




DAILY PIVOT POINTS

Trading Strategy for 01st October 2014 Symbol Close R3 R2 R1 Pivot S1 S2 S3

CNXNifty 7964.80 8129.57 8080.23 8022.52 7973.18 7915.47 7866.13 7808.42

ACC 1399.55 1502.37 1479.38 1439.47 1416.48 1376.57 1353.58 1313.67

AMBUJACEM 213.70 219.37 217.63 215.67 213.93 211.97 210.23 208.27

ASIANPAINT 629.55 654.33 646.52 638.03 630.22 621.73 613.92 605.43

AXISBANK 377.70 392.62 389.13 383.42 379.93 374.22 370.73 365.02

BAJAJ-AUTO 2351.60 2435.32 2396.33 2373.97 2334.98 2312.62 2273.63 2251.27

BANKBARODA 902.30 928.90 918.70 910.50 900.30 892.10 881.90 873.70

BHARTIARTL 405.20 417.05 413.00 409.10 405.05 401.15 397.10 393.20

BHEL 200.45 218.70 214.35 207.40 203.05 196.10 191.75 184.80

BPCL 655.40 695.50 677.70 666.55 648.75 637.60 619.80 608.65

CAIRN 311.85 322.92 318.38 315.12 310.58 307.32 302.78 299.52

CIPLA 626.80 646.30 637.20 632.00 622.90 617.70 608.60 603.40

COALINDIA 341.35 359.15 354.45 347.90 343.20 336.65 331.95 325.40

DLF 150.85 168.77 163.88 157.37 152.48 145.97 141.08 134.57

DRREDDY 3229.60 3289.68 3272.17 3250.88 3233.37 3212.08 3194.57 3173.28

GAIL 446.15 467.43 462.72 454.43 449.72 441.43 436.72 428.43

GRASIM 3536.50 3642.50 3620.70 3578.60 3556.80 3514.70 3492.90 3450.80

HCLTECH 1714.75 1741.77 1732.88 1723.82 1714.93 1705.87 1696.98 1687.92

HDFC 1055.25 1101.40 1082.15 1068.70 1049.45 1036.00 1016.75 1003.30

HDFCBANK 872.65 899.90 889.85 881.25 871.20 862.60 852.55 843.95

HEROMOTOCO 2839.55 3000.77 2959.58 2899.57 2858.38 2798.37 2757.18 2697.17

HINDALCO 156.75 168.30 165.65 161.20 158.55 154.10 151.45 147.00

HINDUNILVR 746.00 763.67 757.73 751.87 745.93 740.07 734.13 728.27

ICICIBANK 1433.55 1498.87 1483.38 1458.47 1442.98 1418.07 1402.58 1377.67

IDFC 137.25 148.27 145.58 141.42 138.73 134.57 131.88 127.72

INDUSINDBK 621.55 640.87 634.38 627.97 621.48 615.07 608.58 602.17

INFY 3747.75 3824.20 3790.25 3769.00 3735.05 3713.80 3679.85 3658.60

ITC 370.20 383.47 377.93 374.07 368.53 364.67 359.13 355.27

JINDALSTEL 172.80 186.67 183.33 178.07 174.73 169.47 166.13 160.87

KOTAKBANK 1013.10 1048.47 1038.83 1025.97 1016.33 1003.47 993.83 980.97

LT 1458.25 1537.17 1518.48 1488.37 1469.68 1439.57 1420.88 1390.77

LUPIN 1395.65 1426.77 1415.88 1405.77 1394.88 1384.77 1373.88 1363.77




M&M 1360.80 1426.68 1408.77 1384.78 1366.87 1342.88 1324.97 1300.98

MARUTI 3062.85 3153.50 3115.75 3089.30 3051.55 3025.10 2987.35 2960.90

NMDC 165.40 171.45 169.60 167.50 165.65 163.55 161.70 159.60

NTPC 139.10 141.23 140.37 139.73 138.87 138.23 137.37 136.73

ONGC 408.55 428.10 422.25 415.40 409.55 402.70 396.85 390.00

PNB 887.30 917.73 907.37 897.33 886.97 876.93 866.57 856.53

POWERGRID 135.25 143.12 141.08 138.17 136.13 133.22 131.18 128.27

RELIANCE 945.70 977.82 963.13 954.42 939.73 931.02 916.33 907.62

SBIN 2445.70 2530.07 2503.03 2474.37 2447.33 2418.67 2391.63 2362.97

SSLT 272.50 292.13 285.67 279.08 272.62 266.03 259.57 252.98

SUNPHARMA 857.25 895.75 878.35 867.80 850.40 839.85 822.45 811.90

TATAMOTORS 502.15 525.53 520.12 511.13 505.72 496.73 491.32 482.33

TATAPOWER 83.05 86.87 85.98 84.52 83.63 82.17 81.28 79.82

TATASTEEL 459.05 486.15 479.55 469.30 462.70 452.45 445.85 435.60

TCS 2736.60 2841.28 2808.97 2772.78 2740.47 2704.28 2671.97 2635.78

TECHM 2489.70 2549.53 2523.97 2506.83 2481.27 2464.13 2438.57 2421.43

ULTRACEMCO 2620.50 2699.67 2676.83 2648.67 2625.83 2597.67 2574.83 2546.67

WIPRO 596.80 611.93 605.47 601.13 594.67 590.33 583.87 579.53

ZEEL 314.15 334.78 325.52 319.83 310.57 304.88 295.62 289.93

Research Team Designation E-Mail ID

Santosh Meena Senior Research Analyst [email protected]

Research Team Designation E-Mail ID

Tuhinanshu Jain PMS and Research Head [email protected]

Amit Khare Senior Research Analyst [email protected]

Sonakshi Bahety Technical Research Analyst [email protected]

Sandeep Choubey Technical Research Analyst [email protected]

Anisha Agrawal Fundamental Research Analyst [email protected]

Sayyam Neema Technical Research Analyst [email protected]

Nitesh Porwal Technical Research Analyst [email protected]

mailto:[email protected]










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Daily technical outlook_for_01st_october_2014