Technical Support & Resistance

Support & Resistance

February 6, 2020

Support: The support level is the lowest price a security trades at, over a period of time. The price stops dropping
because buyers start to outnumber sellers. The longer the price stays at a particular level, the stronger the support at
that level. Many traders believe that the stronger the support at a given level, the less likely it will break below,
however it is recommended to exit the position if support breaks.

Resistance: The resistance level is the highest price a security trades at over a period of time. The price stops rising
because sellers begin to outnumber buyers. The more often the price reaches a particular level of resistance and fails
to break through, the stronger the resistance at that level. For this reason, many traders believe that the stronger the
resistance, the less likely the price will break through that level, however it is recommended to enter the position
once the resistance break

Note: This is recommended to use "Limit" and "SLTP" for disciplined trading.

Close S1 S2 S3 R1 R2 R3 Trend
Scrip Name
NIFTY 50 12089.15 11996 11902 11851 12141 12192 12285 Positive
S&P BSE SENSEX INDEX 41142.66 40839 40534 40365 41313 41482 41786 Positive
NIFTY BANK 31001.95 30734 30465 30299 31169 31335 31604 Positive
NIFTY 50 FUTURES 12089.5 11986 11883 11824 12148 12207 12310 Positive
NIFTY BANK FUTURES 31060 30755 30451 30270 31241 31421 31726 Positive
ACC LTD 1469.8 1458 1444 1424 1491 1510 1524 Neutral
AMBUJA CEMENTS 206.4 205 203 202 209 211 212 Neutral
ADANI POWER LTD 62 61 60 59 64 64 66 Positive
ADANI ENTERPRISE 236.25 227 216 210 243 250 260 Positive
ADANI PORTS AND 366.6 362 356 350 373 378 384 Negative
ASHOK LEYLAND 80.35 80 78 77 83 84 86 Positive
AMARA RAJA BATT 784.75 776 767 757 795 805 815 Positive
APOLLO HOSPITALS 1657.45 1645 1632 1614 1676 1694 1707 Negative
ASIAN PAINTS LTD 1873.5 1864 1853 1840 1888 1901 1912 Neutral
APOLLO TYRES LTD 168.4 164 159 156 173 175 181 Positive
AUROBINDO PHARMA 508 499 489 483 515 521 531 Positive
AXIS BANK LTD 724.05 718 712 708 729 732 739 Positive
BAJAJ FINANCE LT 4528.2 4490 4453 4428 4552 4577 4615 Neutral
BATA INDIA LTD 1872.8 1860 1847 1837 1883 1893 1906 Neutral
BHARTI AIRTEL 533.35 521 507 499 542 551 564 Positive
BHARAT ELECTRON 86.9 86 83 82 89 91 93 Positive
BHARAT HEAVY ELE 39.6 40 39 38 41 41 42 Neutral
BHARAT FORGE CO 508.95 498 487 476 519 529 540 Positive
BALKRISHNA INDS 1100.45 1081 1062 1032 1130 1160 1179 Positive
BIOCON LTD 295.25 290 284 279 300 304 310 Neutral
BAJAJ AUTO LTD 3161.5 3133 3106 3062 3204 3248 3275 Negative
BAJAJ FINSERV LT 9591.4 9472 9352 9246 9698 9804 9925 Positive
BANK OF BARODA 88.15 87 86 86 89 90 91 Positive
BANK OF INDIA 65.05 64 63 62 65 67 67 Neutral
BOSCH LTD 13793.7 13420 13045 12535 14305 14815 15190 Neutral
BHARAT PETROL 501.7 484 466 454 514 526 544 Positive
BERGER PAINTS 588.65 581 574 566 596 604 611 Positive
BRITANNIA INDS 3255.95 3228 3199 3154 3302 3347 3377 Positive
CANARA BANK 184 182 180 177 187 190 192 Negative
CONTAINER CORP 594.5 564 534 516 612 630 660 Positive
CADILA HEALTHCAR 271.65 266 261 256 275 280 285 Positive
CENTURY TEXTILE 606.3 584 561 542 626 645 668 Positive
CESC LTD 723.65 716 707 701 731 737 747 Positive
CHOLAMANDALAM IN 342.65 334 327 320 349 356 363 Positive
CIPLA LTD 447.55 437 426 415 459 470 480 Neutral

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 Technical Support & Resistance
Support & Resistance
COLGATE PALMOLIV 1372.5 1364 1355 1347 1381 1389 1399 Positive
COAL INDIA LTD 179.25 178 176 173 184 187 189 Neutral
DABUR INDIA LTD 511.15 505 500 496 515 519 524 Positive
DIVI LABS LTD 1962.65 1942 1922 1898 1986 2010 2030 Negative
DLF LTD 253.45 248 242 238 258 262 269 Positive
DR REDDY'S LABS 3133.35 3086 3040 2958 3214 3296 3343 Negative
EICHER MOTORS 19487.05 19296 19104 18852 19740 19992 20184 Negative
EQUITAS HOLDINGS 114.3 111 107 106 117 119 122 Positive
ESCORTS LTD 855.3 840 826 813 867 880 895 Positive
EXIDE INDUS LTD 185.65 179 173 167 191 197 204 Negative
FED BANK LTD 90.85 89 88 87 91 92 93 Positive
GAIL INDIA LTD 120.95 119 117 115 122 124 126 Positive
GODREJ CONSUMER 661.35 652 644 638 666 672 681 Negative
GMR INFRASTRUCTU 22.9 23 22 22 24 24 25 Positive
GLENMARK PHARMA 319 312 306 302 322 326 332 Positive
GRASIM INDS LTD 799.9 792 783 778 806 811 820 Positive
HAVELLS INDIA 621.1 612 602 593 631 640 651 Positive
HCL TECH LTD 595.6 588 581 575 600 606 613 Positive
HOUSING DEV FIN 2391.65 2347 2302 2277 2416 2440 2485 Positive
HDFC BANK LTD 1244.65 1232 1219 1211 1253 1261 1273 Positive
HERO MOTOCORP LT 2373.25 2319 2266 2186 2452 2532 2586 Negative
HINDALCO INDS 196.3 190 185 181 200 203 209 Positive
HINDUSTAN PETRO 236.95 233 229 226 240 243 246 Positive
HINDUSTAN UNILEV 2160.3 2148 2136 2118 2178 2196 2208 Neutral
VODAFONE IDEA LT 5.25 5 5 4 5 5 5 Negative
IDFC FIRST BANK 41.05 40 40 39 42 42 43 Positive
INDRAPRASTHA GAS 514.55 510 505 500 521 525 531 Positive
INDIABULLS HOUSI 276.7 270 264 257 283 290 295 Positive
INDUSIND BANK 1272.8 1263 1253 1240 1287 1299 1310 Positive
INTERGLOBE AVIAT 1450.35 1419 1389 1371 1467 1485 1515 Positive
INFOSYS LTD 784.55 778 770 766 790 794 801 Neutral
INDIAN OIL CORP 114.7 114 113 112 116 117 118 Positive
ICICI PRUDENTIAL 477.3 470 463 457 483 489 496 Positive
ITC LTD 216.45 213 209 207 219 221 225 Neutral
JINDAL STEEL & P 190.1 183 177 172 194 199 205 Positive
JSW STEEL LTD 269.25 260 251 245 276 281 291 Positive
JSW ENERGY LTD 61.9 61 60 58 65 67 68 Negative
JUBILANT FOODWOR 1942.65 1925 1907 1888 1962 1981 1999 Positive
JUST DIAL LTD 525.4 518 509 500 535 543 552 Neutral
CUMMINS INDIA 570.4 564 558 549 578 586 592 Positive
KOTAK MAHINDRA 1689.75 1675 1661 1644 1705 1721 1735 Positive
LIC HOUSING FIN 404.75 392 379 371 414 421 435 Neutral
LUPIN LTD 722.5 717 712 707 728 732 738 Neutral
LARSEN & TOUBRO 1310.05 1295 1280 1265 1325 1340 1355 Positive
L&T FINANCE HOLD 118.45 115 112 110 120 122 125 Positive
MAHANAGAR GAS LT 1191.65 1180 1169 1152 1208 1225 1236 Positive
MAX FINANCIAL SE 483.7 476 467 459 493 501 509 Neutral
MANAPPURAM FINAN 168.75 164 161 155 173 179 183 Negative
MAHINDRA & MAHIN 584.35 578 572 566 591 596 603 Positive
M&M FIN SERVICES 387.85 373 358 348 398 408 423 Positive
MARICO LTD 311.6 303 293 288 319 325 334 Neutral
MRF LTD 72390.81 71526 70660 69641 73412 74432 75297 Positive
MARUTI SUZUKI IN 7040.9 6966 6893 6760 7172 7305 7378 Positive
MOTHERSON SUMI 135.35 131 128 125 137 140 143 Positive
MINDTREE LTD 909.75 902 894 885 920 928 937 Positive
MUTHOOT FINANCE 760.6 751 741 726 776 791 801 Positive
NATIONAL ALUMIN 43.4 42 42 41 44 45 45 Positive
NBCC INDIA LTD 33.05 33 33 32 33 34 34 Neutral

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 Technical Support & Resistance
Support & Resistance
NESTLE INDIA LTD 16384.85 16266 16148 16040 16492 16600 16718 Neutral
NIIT TECH LTD 1935.45 1915 1894 1866 1965 1992 2014 Positive
NCC LTD 52.2 51 49 48 53 55 56 Positive
NMDC LTD 113.9 110 105 103 117 119 124 Positive
NTPC LTD 111.2 109 109 107 112 113 114 Positive
OIL INDIA LTD 129.25 127 126 124 130 132 132 Positive
OIL & NATURAL GA 106.8 105 104 102 107 108 109 Positive
PAGE INDUSTRIES 24716.75 24461 24205 23910 25012 25307 25563 Positive
PIDILITE INDS 1550.95 1542 1532 1522 1562 1572 1582 Negative
PIRAMAL ENTERPRI 1459 1426 1392 1364 1488 1516 1550 Positive
PETRONET LNG LTD 268.4 265 261 258 272 275 278 Negative
PUNJAB NATL BANK 56.9 57 56 56 58 58 59 Negative
POWER FINANCE 122.9 119 115 112 127 129 134 Positive
PVR LTD 2053.35 2007 1961 1936 2079 2105 2151 Positive
POWER GRID CORP 189.35 186 183 179 194 199 202 Positive
RBL BANK LTD 317.75 314 310 306 323 328 331 Positive
REC LTD 150.95 145 139 134 155 159 165 Positive
RELIANCE INDS 1448.5 1435 1422 1413 1458 1467 1480 Positive
STEEL AUTHORITY 48.75 47 45 44 50 51 53 Positive
STATE BANK IND 311 306 301 297 315 319 324 Positive
SHRIRAM TRANSPRT 1132.95 1078 1024 993 1163 1194 1248 Positive
SIEMENS LTD 1497.65 1481 1466 1453 1510 1524 1539 Positive
SHREE CEMENT 24923 24460 23997 23582 25338 25753 26216 Positive
SRF LTD 3987.05 3842 3697 3620 4065 4143 4288 Positive
SUN PHARMA INDU 426.25 423 418 413 432 437 442 Positive
SUN TV NETWORK 481.25 473 463 455 491 499 509 Positive
TATA STEEL LTD 475.05 456 436 425 488 500 520 Positive
TATA CONSULTANCY 2146.55 2115 2084 2063 2168 2188 2220 Positive
TECH MAHINDRA LT 814.05 808 803 799 817 821 826 Positive
TATA GLOBAL BEVE 394.6 382 368 355 409 422 436 Positive
TORRENT POWER LT 318.15 296 273 260 332 345 368 Neutral
TATA POWER CO 57.2 57 56 55 58 58 59 Positive
RAMCO CEMENT/THE 795.9 785 775 759 811 827 836 Positive
TORRENT PHARMA 2001.25 1945 1888 1847 2043 2084 2141 Positive
TITAN CO LTD 1279.85 1258 1235 1216 1301 1321 1344 Positive
TATA CHEMICALS 750.45 734 717 703 765 779 796 Positive
TATA MOTORS LTD 183.75 171 160 153 189 196 208 Positive
TVS MOTOR CO LTD 463.05 451 440 424 478 494 505 Positive
UNITED BREWERIES 1313.05 1295 1276 1265 1325 1336 1354 Positive
UJJIVAN FINANCIA 403.05 382 363 346 419 435 455 Positive
UNITED SPIRITS 652.75 645 637 631 659 665 673 Positive
UPL LTD 537.45 526 513 505 546 555 567 Positive
ULTRATECH CEMENT 4471.8 4403 4335 4272 4534 4597 4665 Positive
VEDANTA LTD 143.1 140 136 134 146 148 153 Positive
VOLTAS LTD 694.35 683 672 655 710 726 737 Positive
WIPRO LTD 242.25 239 235 233 245 247 250 Neutral
YES BANK LTD 37.6 34 31 29 40 43 46 Neutral
ZEE ENTERTAINMEN 226.65 213 201 183 244 263 275 Negative

ICICI Securities Ltd. | Retail Equity Research

 Technical Support & Resistance
Support & Resistance

ICICI Direct Technical Desk

ICICI Securities Limited,

1st Floor, Akruti Trade Centre,
Road No 7, MIDC,
Andheri (East), Mumbai – 400 093

research@icicidirect.com

ICICI Securities Ltd. | Retail Equity Research