TECHNICAL MORNING CALL

Friday, December 08, 2023

Market Review:
Bank Nifty
Indian market took a breather on Thursday, after a seven-day winning
streak. Metals, FMCG and IT stocks were major drags. Weak global Bank Nifty faces an immediate resistance around 47250 levels on the
cues and profit booking ahead of the RBI monetary policy outcome on
M or ning Cal l for 8 -D e c -23

upside and on a decisive close above expect a rise to 47450-47600

Friday influenced sentiment. The S&P BSE Sensex declined 132.04 There is an immediate support at 46730-46450 levels.
points or 0.19% to 69,521.69. The Nifty 50 index lost 36.55 points or
0.17% to 20,901.15.

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 20970. If nifty closes above that, further upside can be
expected towards 21040-21100 mark. On the flip side 20840-20750
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 20970 and on a

decisive close above expect a rise to 21040-21100 levels.

Stocks With Positive Bias Stocks With Negative Bias

TATAPOWER, IEX, CONCOR BALRAMCHIN, ABCAPITAL,

IDFCFIRSTB

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VIKAS SALUNKHE SWATI HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Friday, December 08, 2023
Nifty 50 Stocks: SUPPORT / RESISTANCE LEVELS
Name CLOSE S2 S1 Pivot R1 R2 Name CLOSE S2 S1 Pivot R1 R2

NIFTY 20901.15 20750 20840 20890 20970 21040 INDUSINDBK 1505 1486 1496 1505 1514 1524
M or ning Cal l for 8 -D e c -23

BANKNIFTY 47047.15 46450 46730 46920 47250 47450 INFY 1466 1456 1461 1467 1472 1478
FINNIFTY 21023.45 20840 20930 21000 21100 21170 ITC 458 453 455 460 463 468
ADANIENT 2887 2803 2845 2895 2938 2988 JSWSTEEL 819 810 815 822 827 834
ADANIPORTS 1040 1003 1021 1040 1058 1077 KOTAKBANK 1827 1802 1815 1826 1838 1849
APOLLOHOSP 5461 5396 5429 5474 5507 5553 LT 3356 3295 3325 3368 3398 3440
ASIANPAINT 3252 3213 3232 3266 3286 3319 LTIM 5567 5469 5518 5591 5641 5714
AXISBANK 1118 1098 1108 1119 1129 1140 M&M 1693 1669 1681 1693 1705 1718
BAJAJ-AUTO 6094 6012 6053 6104 6144 6195 MARUTI 10697 10457 10577 10755 10875 11053
BAJAJFINSV 1704 1672 1688 1706 1722 1740 NESTLEIND 24975 24629 24802 24986 25159 25343
BAJFINANCE 7391 7272 7331 7386 7445 7500 NTPC 284 278 281 284 288 291
BHARTIARTL 1000 984 992 1006 1014 1028 ONGC 199 194 196 199 201 203
BPCL 475 468 471 475 479 483 POWERGRID 230 221 225 229 234 237
BRITANNIA 5016 4940 4978 5001 5040 5063 RELIANCE 2457 2434 2446 2453 2465 2472
CIPLA 1223 1187 1205 1215 1233 1243 SBILIFE 1456 1430 1443 1463 1476 1496
COALINDIA 352 346 349 351 354 357 SBIN 612 602 607 610 615 617
DIVISLAB 3734 3695 3715 3744 3764 3793 SUNPHARMA 1239 1224 1232 1237 1245 1250
DRREDDY 5785 5696 5740 5795 5840 5895 TATACONSUM 957 946 951 956 961 965
EICHERMOT 4091 4004 4048 4091 4135 4178 TATAMOTORS 722 710 716 722 728 733
GRASIM 2082 2029 2055 2072 2099 2116 TATASTEEL 130 128 129 131 132 133
HCLTECH 1328 1318 1323 1330 1335 1342 TCS 3615 3574 3594 3612 3633 3651
HDFCBANK 1630 1609 1620 1627 1638 1645 TECHM 1223 1214 1219 1225 1229 1236
HDFCLIFE 678 670 674 680 684 690 TITAN 3585 3491 3538 3566 3614 3642
HEROMOTOCO 3773 3731 3752 3782 3803 3833 ULTRACEMCO 9355 9179 9267 9324 9412 9469
HINDALCO 516 511 513 518 521 525 UPL 587 580 583 589 592 597
HINDUNILVR 2518 2464 2491 2526 2553 2587 WIPRO 418 414 416 419 421 424
ICICIBANK 999 982 991 996 1005 1011
Source: Nirmal Bang Research
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VIKAS SALUNKHE SWATI HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Friday, December 08, 2023

Technical Call Updates

Reco
M or ning Cal l for 8 -D e c -23

Stock Name (Buy/Sell) Entry price Targets Stop Loss Duration Status
JTEKTINDIA Buy 139.8 150 134 1-2 Days Open
KOTHARIPET Buy 162.5 182 152 1-2 Days Open
JAGRAN Buy 100.15 110 96 1-2 Days Open
LXCHEM Buy 282.7 320 270 1-2 Days Open
NUVOCO Buy 381.4 400 370 1-2 Days Open
INDIGO Buy 2900 3025 2840 1-2 Days Open
GODREJPROP Buy 1950 2050 1910 1-2 Days Open
GLENMARK Buy 817.7 842 802 1-2 Days Open
MIDHANI Buy 397.5 420 390 1-2 Days Open
GAIL Buy 142 150 138.5 1-2 Days Open

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VIKAS SALUNKHE SWATI HOTKAR AYUSH MEHTA
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Friday, December 08, 2023

FROM THE EQUITY TECHNICAL DESK:

VIKAS SALUNKHE SWATI HOTKAR AYUSH MEHTA

Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH TECHNICAL RESEARCH ANALYST
M or ning Cal l for 8 -D e c -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
Friday, December 08, 2023
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M or ning Cal l for 8 -D e c -23

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