TECHNICAL MORNING CALL

Tuesday, February 07, 2023

Market Review:
Bank Nifty
Indian markets ended with modest losses on Monday, tracking
negative global cues. Traders were cautious ahead of RBI's monetary Bank Nifty faces an immediate resistance around 41780 levels on the
policy announcement on Wednesday. The barometer index, the S&P upside and on a decisive close above expect a rise to 42000-42240.
M or ning Cal l for 7 -Fe b -23

BSE Sensex declined 334.98 points or 0.55% to 60,506.90. The Nifty 50 There is an immediate support at 41320-41140 levels.
index lost 89.45 points or 0.50% to 17,764.60.

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 17830. 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 17830 and on a

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

Stocks With Positive Bias Stocks With Negative Bias

M&MFIN, RELIANCE, INFY DIVISLAB, DEEPAKNTR,APOLLOTYRE

Page 1 of 5
VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Tuesday, February 07, 2023
Nifty 50 Stocks: SUPPORT / RESISTANCE LEVELS
Name CLOSE S2 S1 Pivot R1 R2
Name CLOSE S2 S1 Pivot R1 R2
ICICIBANK 854 839 846 857 864 875
NIFTY 17764.60 17630 17700 17760 17830 17900
INDUSINDBK 1129 1087 1108 1122 1143 1156
M or ning Cal l for 7 -Fe b -23

BANKNIFTY 41507 41140 41320 41590 41780 42000

INFY 1570 1540 1555 1576 1591 1613
FINNIFTY 18467 18290 18380 18490 18580 18690
ITC 383 375 379 384 388 392
ADANIENT 1573 1361 1467 1541 1647 1721
JSWSTEEL 711 695 703 717 725 739
ADANIPORTS 545 452 499 524 571 596
KOTAKBANK 1747 1717 1732 1755 1770 1793
APOLLOHOSP 4321 4136 4228 4282 4374 4428
LT 2156 2121 2138 2160 2178 2199
ASIANPAINT 2754 2699 2726 2746 2773 2793
M&M 1376 1344 1360 1376 1392 1408
AXISBANK 883 856 869 884 898 913
MARUTI 8908 8772 8840 8888 8956 9004
BAJAJ-AUTO 3849 3775 3812 3841 3878 3907
NESTLEIND 19022 18640 18831 18945 19136 19251
BAJAJFINSV 1343 1311 1327 1338 1354 1365
NTPC 166 163 164 166 167 168
BAJFINANCE 6104 5893 5999 6061 6167 6230
ONGC 144 141 142 143 145 146
BHARTIARTL 789 772 780 788 796 803 POWERGRID 217 212 214 216 219 220
BPCL 334 320 327 331 338 341 RELIANCE 2311 2298 2305 2313 2320 2328
BRITANNIA 4626 4585 4605 4620 4641 4656 SBILIFE 1138 1102 1120 1133 1152 1165
CIPLA 1030 1001 1015 1025 1039 1048 SBIN 545 525 535 547 557 569
COALINDIA 220 214 217 219 221 223 SUNPHARMA 1023 1007 1015 1021 1029 1034
DIVISLAB 2778 2667 2723 2800 2856 2933 TATACONSUM 730 716 723 728 735 739
DRREDDY 4350 4243 4296 4338 4391 4433 TATAMOTORS 442 435 439 443 446 450
EICHERMOT 3261 3181 3221 3260 3300 3340 TATASTEEL 117 115 116 118 119 121
GRASIM 1618 1588 1603 1612 1627 1636 TCS 3460 3420 3440 3457 3476 3493
HCLTECH 1146 1119 1133 1141 1154 1163 TECHM 1005 987 996 1006 1016 1026
HDFC 2683 2651 2667 2687 2703 2724 TITAN 2458 2430 2444 2462 2476 2494
HDFCBANK 1652 1633 1642 1656 1665 1679 ULTRACEMCO 7127 7054 7091 7149 7186 7244
HDFCLIFE 482 466 474 482 490 498 UPL 715 696 705 711 720 726
HEROMOTOCO 2695 2622 2658 2682 2718 2741 WIPRO 405 400 402 404 407 409

HINDALCO 447 439 443 450 454 461

Source: Nirmal Bang Research
HINDUNILVR 2638 2582 2610 2627 2655 2673
Page 2 of 5
VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Tuesday, February 07, 2023

Technical Call Updates

Reco
M or ning Cal l for 7 -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
ZENSARTECH Buy 236.7 250 229 Positional OPEN
CGPOWER Buy 308.4 324 300 1-2 Days OPEN
IEX Buy 139.4 155 134 Positional OPEN

Page 3 of 5
VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Tuesday, February 07, 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 7 -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

DISCLAIMER

This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. NBSPL is
not soliciting any action based upon it. Nothing in this research shall be construed as a solicitation to buy or sell any security or product, or to engage in or
refrain from engaging in any such transaction. In preparing this research, we did not take into account the investment objectives, financial situation and
particular needs of the reader.

This research has been prepared for the general use of the clients of NBSPL and must not be copied, either in whole or in part, or distributed or redistributed
to any other person in any form. If you are not the intended recipient you must not use or disclose the information in this research in any way. Though
disseminated to all the customers simultaneously, not all customers may receive this report at the same time. NBSPL will not treat recipients as customers
by virtue of their receiving this report. This report is not directed or intended for distribution to or use by any person or entity resident in a state, country or
any jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject NBSPL & its group
companies to registration or licensing requirements within such jurisdictions.

The report is based on the information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate,
complete or up-to-date and it should not be relied upon as such. We accept no obligation to correct or update the information or opinions in it. NBSPL or any
of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this report. NBSPL or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind,
regarding any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-
infringement. The recipients of this report should rely on their own investigations.

This information is subject to change without any prior notice. NBSPL reserves its absolute discretion and right to make or refrain from making modifications
and alterations to this statement from time to time. Nevertheless, NBSPL is committed to providing independent and transparent recommendations to its
clients, and would be happy to provide information in response to specific client queries.

Page 4 of 5
VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Tuesday, February 07, 2023

Before making an investment decision on the basis of this reserch, the reader needs to consider, with or without the assistance of an adviser, whether the
advice is appropriate in light of their particular investment needs, objectives and financial circumstances. There are risks involved in securities trading. The
price of securities can and does fluctuate, and an individual security may even become valueless. International investors are reminded of the additional risks
M or ning Cal l for 7 -Fe b -23

inherent in international investments, such as currency fluctuations and international stock market or economic conditions, which may adversely affect the
value of the investment. Opinions expressed are subject to change without any notice. Neither the company nor the director or the employees of NBSPL
accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this research and/or further communication in
relation to this research. Here it may be noted that neither NBSPL, nor its directors, employees, agents or representatives shall be liable for any damages
whether direct or indirect, incidental, special or consequential including lost revenue or lost profit that may arise from or in connection with the use of the
information contained in this report.

Copyright of this document vests exclusively with NBSPL.

Our reports are also available on our website www.nirmalbang.com

DISCLOSURE

Research Reports that are published by Nirmal Bang Securities Private Limited (hereinafter referred to as “NBSPL”) are for private circulation only. NBSPL is a registered
Research Analyst under SEBI (Research Analyst) Regulations, 2014 having Registration no. INH000001766. NBSPL is also a registered Stock Broker with National Stock
Exchange of India Limited , BSE Limited ,Metropolitan Stock Exchange of India Limited , Multi Commodity Exchange of India Limited , National Commodity and Derivative
Exchange Limited and Indian Commodity Exchange Limited in cash and Equity and Commodities derivatives segments.

NBSPL has other business divisions with independent research teams separated by Chinese walls, and therefore may, at times, have different or contrary views on stocks
and markets.

NBSPL or its associates have not been debarred / suspended by SEBI or any other regulatory authority for accessing / dealing in securities Market. NBSPL, its associates or
analyst or his relatives do not hold any financial interest (Except Investment) in the subject company. NBSPL or its associates or Analyst do not have any conflict or material
conflict of interest at the time of publication of the research report with the subject company. NBSPL or its associates or Analyst or his relatives may or may not hold
beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of this research report.

NBSPL or its associates / analyst has not received any compensation / managed or co-managed public offering of securities of the company covered by Analyst during the
past twelve months. NBSPL or its associates have not received any compensation or other benefits from the company covered by Analyst or third party in connection with the
research report. Analyst has not served as an officer, director or employee of Subject Company . NBSPL / analyst has not been engaged in market making activity of the
subject company.

Analyst Certification: The research analysts and authors of these reports, hereby certify that the views expressed in this research report accurately reflects my/our personal
views about the subject securities, issuers, products, sectors or industries. It is also certified that no part of the compensation of the analyst(s) was, is, or will be directly or
indirectly related to the inclusion of specific recommendations or views in this research. The analyst(s) principally responsible for the preparation of this research report and
has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations.

Page 5 of 5
VIKAS SALUNKHE SWATI A HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST