TECHNICAL MORNING CALL

Wednesday, February 08, 2023

Market Review:
Bank Nifty
Indian markets ended with modest losses on Tuesday. Traders booked
profits ahead of RBI's monetary policy outcome on Wednesday, 8 Bank Nifty faces an immediate resistance around 41850 levels on the
February 2023. The barometer index, the S&P BSE Sensex declined upside and on a decisive close above expect a rise to 42100-42340.
M or ning Cal l for 8 -Fe b -23

220.86 points or 0.37% to 60,286.04. The Nifty 50 index lost 43.10 There is an immediate support at 41340-41100 levels.
points or 0.24% to 17,721.50.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move

during the day. On technical grounds, Nifty has an immediate
resistance at 17800. If nifty closes above that, further upside can be
expected towards 17900-18000 mark. On the flip side 17700-17630
will act as strong support levels. It’s a stock specific market trade calls
with strict stop loss.

Action: Nifty has an immediate resistance placed at 17800 and on a

decisive close above expect a rise to 17900-18000 levels.

Stocks With Positive Bias Stocks With Negative Bias

INTELLECT, NAVINFLUOR, ABB AARTIIND, TATASTEEL, IDEA

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VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Wednesday, February 08, 2023
Nifty 50 Stocks: SUPPORT / RESISTANCE LEVELS
Name CLOSE S2 S1 Pivot R1 R2
Name CLOSE S2 S1 Pivot R1 R2
ICICIBANK 853 843 848 852 857 861
NIFTY 17721.50 17570 17650 17730 17800 17900
INDUSINDBK 1143 1112 1128 1138 1153 1164
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BANKNIFTY 41642 41100 41340 41540 41850 42100

INFY 1562 1544 1553 1565 1574 1585
FINNIFTY 18498 18270 18390 18460 18580 18650
ITC 373 360 367 375 382 391
ADANIENT 1803 1327 1565 1764 2002 2201
JSWSTEEL 714 699 707 714 721 728
ADANIPORTS 553 509 531 565 587 620
KOTAKBANK 1775 1735 1755 1767 1788 1800
APOLLOHOSP 4316 4227 4271 4316 4360 4404
LT 2165 2141 2153 2162 2175 2184
ASIANPAINT 2758 2734 2746 2760 2772 2787
M&M 1367 1347 1357 1371 1381 1395
AXISBANK 879 863 871 880 888 897
MARUTI 8762 8644 8703 8812 8871 8979
BAJAJ-AUTO 3879 3787 3833 3864 3910 3941
NESTLEIND 18978 18766 18872 18986 19092 19206
BAJAJFINSV 1350 1325 1338 1350 1363 1375
NTPC 165 162 164 166 167 169
BAJFINANCE 6161 6066 6113 6148 6195 6230
ONGC 145 141 143 144 146 147
BHARTIARTL 786 775 781 788 794 801 POWERGRID 217 214 215 217 218 220
BPCL 332 329 330 333 335 338 RELIANCE 2306 2274 2290 2309 2325 2343
BRITANNIA 4607 4555 4581 4623 4648 4690 SBILIFE 1132 1111 1122 1135 1145 1158
CIPLA 1031 1016 1023 1029 1037 1043 SBIN 547 536 542 547 552 557
COALINDIA 220 215 217 219 222 223 SUNPHARMA 1006 986 996 1012 1023 1039
DIVISLAB 2751 2690 2721 2770 2801 2850 TATACONSUM 728 715 722 728 735 741
DRREDDY 4440 4315 4378 4423 4486 4531 TATAMOTORS 435 427 431 437 442 448
EICHERMOT 3275 3212 3244 3271 3302 3330 TATASTEEL 111 108 110 112 114 117
GRASIM 1616 1593 1605 1619 1630 1644 TCS 3473 3444 3458 3476 3490 3507
HCLTECH 1128 1109 1118 1136 1146 1163 TECHM 1002 991 997 1003 1008 1014
HDFC 2679 2635 2657 2676 2698 2717 TITAN 2447 2419 2433 2446 2460 2474
HDFCBANK 1654 1618 1636 1651 1669 1683 ULTRACEMCO 7072 6957 7014 7110 7167 7263
HDFCLIFE 483 476 479 485 489 495 UPL 709 693 701 709 717 725
HEROMOTOCO 2653 2574 2614 2654 2693 2734 WIPRO 401 395 398 402 404 408

HINDALCO 430 416 423 432 439 449

Source: Nirmal Bang Research
HINDUNILVR 2601 2564 2582 2614 2633 2664
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VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Wednesday, February 08, 2023

Technical Call Updates

Reco
M or ning Cal l for 8 -Fe b -23

Stock Name (Buy/Sell) Entry price Targets Stop Loss Duration Status
BALKRISIND Buy 2265 2400 2200 1-2 Days OPEN
CUMMINSIND Buy 1455.7 1540 1410 1-2 Days OPEN
IEX Buy 139.4 155 134 Positional OPEN
MOTHERSUMI Buy 79.7 88 77 1-2 Days OPEN
NCC Buy 93.9 102 90 1-2 Days OPEN

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VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Wednesday, February 08, 2023

FROM THE EQUITY TECHNICAL DESK:

VIKAS SALUNKHE SWATI A. HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
M or ning Cal l for 8 -Fe b -23

E-Mail: vikas.salunkhe@nirmalbang.com E-Mail: swati.hotkar@nirmalbang.com E-Mail: ayush.mehta@nirmalbang.com

Tel no: 6273-8254/8000 Tel no: 6273-8255/8000 Tel no: 6273-8061/8000

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VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Wednesday, February 08, 2023

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M or ning Cal l for 8 -Fe b -23

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VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST