TECHNICAL CALL

Market Review:
Bank Nifty
Indian markets ended with robust gains on Friday, snapping a seven-
day losing streak. All the sectoral indices on the NSE ended in the Bank Nifty’s next immediate support is around 38500 levels on the
green. Metals, banks and financial shares rallied. The barometer index, downside and on a decisive close below expect a fall to 38150-37850.
the S&P BSE Sensex jumped 1,016.96 points or 1.80% at 57,426.92. There is an immediate resistance at 39140-39500 levels.
The Nifty 50 index gained 276.25 points or 1.64% at 17,094.35.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness selling

pressure during the day. On technical grounds, Nifty has an immediate
support at 16840. Any move below the same may extend the fall
toward 16750-16670 mark. On the flip side 17200-17280 will act
as strong resistance levels. It’s a stock specific market, trade calls with
strict stop loss.

Action: Nifty has an immediate support placed at 16840 and on a

decisive close below expect a fall to 16750-16670 levels.

Stocks With Positive Bias Stocks With Negative Bias

INDIACEM, GRANULES, IGL, MGL, LALPATHLAB

INDUSTOWER

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Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
VIKAS SALUNKHE (vikas.salunkhe@nirmalbang.com) SWATI A HOTKAR (swati.hotkar@nirmalbang.com) AYUSH MEHTA (ayush.mehta@nirmalbang.com)
 TECHNICAL CALL

Nifty 50 Stocks: SUPPORT / RESISTANCE LEVELS Name CLOSE S2 S1 Pivot R1 R2

Name CLOSE S2 S1 Pivot R1 R2 INDUSINDBK 1185 1110 1150 1170 1210 1230
NIFTY 17103 16750 16840 17030 17200 17280 INFY 1413 1360 1390 1400 1430 1450
BANKNIFTY 38807 38150 38500 38460 39140 39500 ITC 332 330 330 330 340 340
FINNIFTY 17575 16880 17230 17450 17800 18030 JSWSTEEL 632 610 620 630 640 650
ADANIPORTS 821 790 800 820 830 850 KOTAKBANK 1819 1730 1780 1800 1840 1870
APOLLOHOSP 4383 4270 4330 4410 4460 4540 LT 1848 1780 1810 1850 1880 1920
ASIANPAINT 3342 3220 3280 3350 3410 3470 M&M 1268 1210 1240 1260 1290 1310
AXISBANK 733 710 720 730 740 750 MARUTI 8828 8440 8630 8750 8950 9070
BAJAJ-AUTO 3528 3420 3470 3510 3570 3610 NESTLEIND 19145 18780 18960 19080 19260 19380
BAJAJFINSV 1678 1590 1630 1670 1710 1740 NTPC 160 160 160 160 160 160
BAJFINANCE 7336 6910 7120 7240 7460 7580 ONGC 127 120 120 130 130 140
BHARTIARTL 800 740 770 790 820 840 POWERGRID 212 200 210 210 220 220
BPCL 305 300 300 300 310 310 RELIANCE 2378 2270 2330 2360 2420 2450
BRITANNIA 3843 3780 3810 3850 3880 3920 SBILIFE 1250 1220 1240 1250 1260 1270
CIPLA 1115 1090 1100 1120 1130 1140 SBIN 531 510 520 530 540 550
COALINDIA 212 200 210 210 220 220 SHREECEM 21033 20130 20580 21290 21740 22440
DIVISLAB 3705 3620 3660 3700 3740 3780 SUNPHARMA 949 920 940 940 960 960
DRREDDY 4336 4200 4270 4340 4400 4470 TATACONSUM 803 780 790 800 810 820
EICHERMOT 3672 3540 3610 3650 3720 3760 TATAMOTORS 405 390 400 400 410 420
GRASIM 1675 1630 1650 1680 1700 1720 TATASTEEL 99 90 100 100 100 100
HCLTECH 932 900 920 930 940 950 TCS 3005 2920 2960 2990 3030 3060
HDFC 2288 2150 2220 2270 2340 2380 TECHM 1009 970 990 1000 1020 1040
HDFCBANK 1421 1340 1380 1410 1450 1470 TITAN 2607 2470 2540 2590 2660 2700
HDFCLIFE 530 520 520 530 530 540 ULTRACEMCO 6255 6100 6180 6250 6330 6400
HEROMOTOCO 2549 2470 2510 2550 2590 2630 UPL 672 650 660 670 680 690
HINDALCO 391 370 380 390 400 410 WIPRO 394 380 390 390 400 400
HINDUNILVR 2696 2650 2670 2690 2720 2740
ICICIBANK 862 830 840 860 870 890
Source: Nirmal Bang Research
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Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
VIKAS SALUNKHE (vikas.salunkhe@nirmalbang.com) SWATI A HOTKAR (swati.hotkar@nirmalbang.com) AYUSH MEHTA (ayush.mehta@nirmalbang.com)
 TECHNICAL CALL

Technical Call Updates

Reco

Stock Name (Buy/Sell) Entry price Targets Stop Loss Duration Status
MPHASIS Buy 2094.4 2200 2030 1-2 Days OPEN
METROPOLIS Buy 1524 1640 1470 1-2 Days OPEN
COCHINSHIP Buy 432.5 455 414 1-2 Days OPEN
ITC FUT Sell 335.4 316 342 1-2 Days Open

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Sr. AVP- TECHNICAL RESEARCH AVP TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
VIKAS SALUNKHE (vikas.salunkhe@nirmalbang.com) SWATI A HOTKAR (swati.hotkar@nirmalbang.com) AYUSH MEHTA (ayush.mehta@nirmalbang.com)
 TECHNICAL CALL

FROM THE EQUITY TECHNICAL DESK:

VIKAS SALUNKHE SWATI A. HOTKAR AYUSH MEHTA

Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
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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 TECHNICAL CALL

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Sr. AVP- TECHNICAL RESEARCH AVP TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
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