TECHNICAL MORNING CALL

Wednesday, January 15, 2025

Market Review: Bank Nifty
Indian market indices staged a rebound on Tuesday, ending a four-day Bank Nifty faces an immediate resistance around 49240 levels on the
losing streak. The Nifty 50 ended above the 23,170 mark, led by gains
M or ni ng Cal l for 1 5 -Jan -25

upside and on a decisive close above expect a rise to 49570-49840

in PSU banks and metal stocks. However, IT and FMCG sectors There is an immediate support at 48670-48340 levels.
witnessed some correction. The S&P BSE Sensex rose 169.62 points or
0.22% to 76,499.63. The Nifty 50 index rose 90.10 points or 0.39% to
23,176.05.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range

bound move during the day. On technical grounds, Nifty has an
immediate resistance at 23240. If nifty closes above that, further
upside can be expected towards 23300-23370 mark. On the flip side
23100-23000 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 23240 and on a

decisive close above expect a rise to 23300-23370 levels.

Stocks With Positive Bias Stocks With Negative Bias

BAJAJFINSV, INDUSTOWER, BATAINDIA, IPCALAB, LODHA

PETRONET

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VIKAS SALUNKHE SWATI HOTKAR
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH
 TECHNICAL MORNING CALL
Wednesday, January 15, 2025
Nifty 50 Stocks: SUPPORT / RESISTANCE LEVELS
Name CLOSE S2 S1 Pivot R1 R2 Name CLOSE S2 S1 Pivot R1 R2

NIFTY 23176.05 23000 23100 23190 23240 23300 INDUSINDBK 962 928 945 962 979 996
M or ni ng Cal l for 1 5 -Jan -25

BANKNIFTY 48971 48340 48670 48860 49240 49570 INFY 1940 1907 1924 1948 1964 1988
ADANIENT 2381 2167 2274 2348 2455 2530 ITC 437 432 434 438 440 444
ADANIPORTS 1117 1052 1084 1108 1141 1164 JSWSTEEL 906 871 889 900 917 929
APOLLOHOSP 6707 6547 6627 6763 6843 6979 KOTAKBANK 1751 1710 1731 1750 1770 1789
ASIANPAINT 2240 2205 2223 2254 2272 2304 LT 3463 3424 3443 3468 3487 3511
AXISBANK 1052 1037 1044 1053 1060 1068 LTIM 5752 5520 5636 5840 5955 6159
BAJAJ-AUTO 8611 8438 8525 8611 8698 8784 M&M 3050 2964 3007 3043 3085 3121
BAJAJFINSV 1714 1663 1688 1709 1734 1755 MARUTI 11741 11431 11586 11686 11841 11940
BAJFINANCE 7335 7108 7221 7305 7418 7502 NESTLEIND 2219 2168 2193 2225 2251 2282
BHARTIARTL 1600 1549 1575 1604 1630 1659 NTPC 310 295 303 308 315 320
BPCL 270 264 267 269 272 275 ONGC 260 255 257 260 263 265
BRITANNIA 4862 4788 4825 4888 4925 4987 POWERGRID 290 284 287 290 293 296
CIPLA 1448 1427 1437 1445 1455 1462 RELIANCE 1239 1214 1226 1240 1252 1266
COALINDIA 369 358 364 369 375 380 SBILIFE 1499 1456 1477 1491 1513 1526
DIVISLAB 5990 5658 5824 5915 6081 6172 SBIN 748 722 735 746 759 770
DRREDDY 1338 1311 1325 1337 1350 1362 SHRIRAMFIN 544 507 526 537 555 566
EICHERMOT 5030 4916 4973 5007 5064 5098 SUNPHARMA 1771 1724 1747 1766 1789 1808
GRASIM 2311 2275 2293 2312 2329 2348 TATACONSUM 963 948 956 966 974 985
HCLTECH 1814 1709 1761 1850 1902 1991 TATAMOTORS 771 740 755 767 783 795
HDFCBANK 1647 1627 1637 1647 1656 1666 TATASTEEL 127 121 124 126 129 131
HDFCLIFE 600 588 594 601 607 614 TCS 4233 4160 4197 4255 4292 4350
HEROMOTOCO 4103 4022 4062 4098 4139 4175 TECHM 1648 1597 1622 1646 1672 1696
HINDALCO 591 560 576 584 599 607 TITAN 3323 3235 3279 3354 3398 3473
HINDUNILVR 2368 2296 2332 2400 2436 2504 ULTRACEMCO 10484 10289 10386 10560 10657 10831
ICICIBANK 1240 1220 1230 1238 1248 1255 WIPRO 293 283 288 291 296 299

Source: Nirmal Bang Research

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VIKAS SALUNKHE SWATI HOTKAR
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH
 TECHNICAL MORNING CALL
Wednesday, January 15, 2025

Technical Call Updates

M or ni ng Cal l for 1 5 -Jan -25

Reco

Stock Name (Buy/Sell) Entry price Targets Stop Loss Duration Status

Nil

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VIKAS SALUNKHE SWATI HOTKAR
Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH
 TECHNICAL MORNING CALL
Wednesday, January 15, 2025

FROM THE EQUITY TECHNICAL DESK:

VIKAS SALUNKHE SWATI HOTKAR

M or ning Cal l for 1 5 -Jan -25

Sr. AVP- TECHNICAL RESEARCH AVP- TECHNICAL RESEARCH

E-Mail: vikas.salunkhe@nirmalbang.com E-Mail: swati.hotkar@nirmalbang.com
Tel no: 6273-8254/8000 Tel no: 6273-8255/8000

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VIKAS SALUNKHE SWATI A HOTKAR
Sr. AVP- TECHNICAL RESEARCH ANALYST AVP TECHNICAL RESEARCH ANALYST
 TECHNICAL MORNING CALL
Wednesday, January 15, 2025

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