Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives https://simplehai.axisdirect.in/share-stock-prices/nse/Adani-Ports-&-Special-Economic-Zone-Ltd-21281

1. Technical View (Equity)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,779.80 0.47% 10725 10750 10795 10820 10865
Sensex 35807.28 0.44% 35620 35710 35875 35970 36135
Nifty Daily Chart
Comments:
Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at
10780 with a gain of 50 points.
On the daily chart index has formed a bearish candle however it manages to maintain higher High-low
compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and
sustains above 10850 levels it would witness buying which would lead the index towards 10900-10950
levels. However if index breaks below 10750 level it would witness selling which would take the index
towards 10700-10650 levels. Nifty is trading above 20 and 50 day SMAs which are important short term
moving averages, indicating positive bias in the short to medium term. Nifty continues to remain in a
downtrend in the short term, so exit on small pullback rallies to be our preferred strategy.
The daily strength indicator RSI is marginally below its reference line while momentum oscillator
Stochastic has turned positive indicating positive bias.
The trend deciding level for the day is 10795. If NIFTY trades above this level then we may witness a
further rally up to 10820-10865-10890 levels. However, if NIFTY trades below 10795 levels then we may
see some profit booking initiating in the market, which may correct up to 10750-10725-10680 levels

2. Stocks to focus for intraday Long Adaniports, Hindunilvr, Infratel, Powergrid,
Techm, Zeel
Stocks to focus for intraday Short Coalindia, Heromotoco, Sunpharma, Tatamotors,
Tatasteel