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8000-8050 resistance will be litmus test for bulls to lead the race again.
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DAILY TECHNICAL OUTLOOK
SWASTIKA INTELLIGENCE GROUP 29th September 2014
Visit us at: - www.swastika.co.in 0731-6688005
NIFTY: 7971 (+0.72%)
8000-8050 resistance will be litmus test for bulls to lead the race again. S
STRATEGY FOR TRADERS:
Nifty respected 7840 support mark but 8000-8050 is still a crucial resistance zone; intraday traders should
buy on dip around 7940 while position should be reversed below 7930mark.
Daily Nifty Levels R1: 7990 R2: 8025 R3: 8050
Pivot: 7934 S1: 7930 S2: 7875 S3: 7840
CHART FORMATIONS:
Nifty bounced back from important horizontal
support line of 7840mark.
Nifty witnessed a bullish piercing line candlestick
formation on daily chart.
8025-8050 is immediate and important resistance
zone for nifty to take out for short term trend
reversal.
50-day SMA is placed at 7885mark which is
immediate support while 9-day and 20-day EMA
both are placed at 8010mark which is immediate
resistance level.
TECHNICAL INDICATORS:
Momentum indicator RSI is holding support of
40mark while stochastic is negatively poised.
CCI and MACD both are still negatively poised.
DAILY TECHNICAL OUTLOOK
SWASTIKA INTELLIGENCE GROUP 29th September 2014
Visit us at: - www.swastika.co.in 0731-6688005
BANKNIFTY FUT: 15930 (-1.78%)
16000 mark need to be taken out for bulls to kick off bears out of the race once again.
STRATEGY FOR TRADERS:
Banknifty witnessed smart recovery but trend is weak until 16000mark will be taken out; for intraday
traders there is opportunity in both side of buy on dip or sell on rise by playing 15580-16020zone; but need
to reverse their position at breakout of this range.
Daily Banknifty Levels R1: 15820 R2: 15880 R3: 15975
Pivot: 15596 S1: 15590 S2: 15470 S3: 15275
CHART FORMATIONS:
Banknifty witnessed bullish harami candlestick
formation on daily chart.
15880-16000 is immediate and important
resistance zone for banknifty.
Banknifty manages to bounce back from its 100-
day SMA placed around 15300mark.
Banknifty has to face resistance at 9-day EMA
placed around 15900mark.
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 TECHNICAL OUTLOOK
SWASTIKA INTELLIGENCE GROUP 29th September 2014
Visit us at: - www.swastika.co.in 0731-6688005
DAILY PIVOT POINTS
Trading Strategy for 29th September 2014 Symbol Close R3 R2 R1 Pivot S1 S2 S3
CNXNifty 8116.85 8179.00 8086.15 8027.50 7934.65 7876.00 7783.15 7724.50
ACC 1435.15 1514.45 1478.65 1456.90 1421.10 1399.35 1363.55 1341.80
AMBUJACEM 212.05 223.18 218.22 215.13 210.17 207.08 202.12 199.03
ASIANPAINT 627.40 653.85 642.40 634.90 623.45 615.95 604.50 597.00
AXISBANK 389.55 419.03 405.42 397.48 383.87 375.93 362.32 354.38
BAJAJ-AUTO 2340.80 2476.37 2432.93 2386.87 2343.43 2297.37 2253.93 2207.87
BANKBARODA 896.75 956.40 930.65 913.70 887.95 871.00 845.25 828.30
BHARTIARTL 405.05 415.88 412.32 408.68 405.12 401.48 397.92 394.28
BHEL 205.35 213.92 210.18 207.77 204.03 201.62 197.88 195.47
BPCL 639.45 703.33 673.72 656.58 626.97 609.83 580.22 563.08
CAIRN 311.50 325.05 319.00 315.25 309.20 305.45 299.40 295.65
CIPLA 611.95 652.05 634.25 623.10 605.30 594.15 576.35 565.20
COALINDIA 348.10 370.15 360.70 354.40 344.95 338.65 329.20 322.90
DLF 162.55 172.63 167.82 165.18 160.37 157.73 152.92 150.28
DRREDDY 3222.45 3407.97 3362.28 3292.37 3246.68 3176.77 3131.08 3061.17
GAIL 443.45 472.77 463.38 453.42 444.03 434.07 424.68 414.72
GRASIM 3597.20 3783.27 3699.13 3648.17 3564.03 3513.07 3428.93 3377.97
HCLTECH 1714.00 1762.73 1743.87 1728.93 1710.07 1695.13 1676.27 1661.33
HDFC 1038.20 1090.63 1074.17 1056.18 1039.72 1021.73 1005.27 987.28
HDFCBANK 871.65 919.43 899.22 885.43 865.22 851.43 831.22 817.43
HEROMOTOCO 2896.90 3029.97 2982.23 2939.57 2891.83 2849.17 2801.43 2758.77
HINDALCO 157.25 175.20 167.15 162.20 154.15 149.20 141.15 136.20
HINDUNILVR 751.45 773.80 766.85 759.15 752.20 744.50 737.55 729.85
ICICIBANK 1477.95 1542.47 1512.38 1495.17 1465.08 1447.87 1417.78 1400.57
IDFC 142.05 150.87 146.68 144.37 140.18 137.87 133.68 131.37
INDUSINDBK 624.50 649.98 639.17 631.83 621.02 613.68 602.87 595.53
INFY 3680.15 3773.18 3746.72 3713.43 3686.97 3653.68 3627.22 3593.93
ITC 371.70 383.75 380.10 375.90 372.25 368.05 364.40 360.20
JINDALSTEL 183.95 209.57 197.78 190.87 179.08 172.17 160.38 153.47
KOTAKBANK 1024.35 1060.90 1048.35 1036.35 1023.80 1011.80 999.25 987.25
LT 1476.00 1539.18 1509.57 1492.78 1463.17 1446.38 1416.77 1399.98
LUPIN 1379.55 1429.47 1409.68 1394.62 1374.83 1359.77 1339.98 1324.92
DAILY TECHNICAL OUTLOOK
SWASTIKA INTELLIGENCE GROUP 29th September 2014
Visit us at: - www.swastika.co.in 0731-6688005
M&M 1393.45 1470.68 1435.32 1414.38 1379.02 1358.08 1322.72 1301.78
MARUTI 3038.00 3221.13 3154.07 3096.03 3028.97 2970.93 2903.87 2845.83
NMDC 166.65 179.77 174.08 170.37 164.68 160.97 155.28 151.57
NTPC 139.35 145.68 142.92 141.13 138.37 136.58 133.82 132.03
ONGC 412.05 432.45 422.95 417.50 408.00 402.55 393.05 387.60
PNB 894.95 995.30 952.15 923.55 880.40 851.80 808.65 780.05
POWERGRID 137.00 140.27 138.83 137.92 136.48 135.57 134.13 133.22
RELIANCE 933.25 968.52 955.08 944.17 930.73 919.82 906.38 895.47
SBIN 2445.25 2596.93 2528.52 2486.88 2418.47 2376.83 2308.42 2266.78
SSLT 274.95 287.33 281.72 278.33 272.72 269.33 263.72 260.33
SUNPHARMA 806.60 909.48 865.47 836.03 792.02 762.58 718.57 689.13
TATAMOTORS 511.10 539.35 526.20 518.65 505.50 497.95 484.80 477.25
TATAPOWER 84.30 87.85 86.20 85.25 83.60 82.65 81.00 80.05
TATASTEEL 474.25 499.90 488.45 481.35 469.90 462.80 451.35 444.25
TCS 2684.00 2770.70 2747.80 2715.90 2693.00 2661.10 2638.20 2606.30
TECHM 2473.25 2574.83 2552.42 2512.83 2490.42 2450.83 2428.42 2388.83
ULTRACEMCO 2646.00 2797.67 2731.33 2688.67 2622.33 2579.67 2513.33 2470.67
WIPRO 588.60 608.07 599.53 594.07 585.53 580.07 571.53 566.07
ZEEL 302.40 317.80 312.00 307.20 301.40 296.60 290.80 286.00
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]
DAILY TECHNICAL OUTLOOK
SWASTIKA INTELLIGENCE GROUP 29th September 2014
Visit us at: - www.swastika.co.in 0731-6688005
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