Top two indices that are likely to perform in 2019

The domestic equity market swung into the positive territory on Tuesday – the first trading day of 2019 - after trading in the red for most part of the session. For the calendar year 2018, the benchmark indices Sensex and Nifty added 6 per cent and 3 per cent, respectively.
 

Here’s a look at the two indices that, according to technical charts, are likely to perform in the new year -
 

Nifty Financial Services: The index is currently trading 2.65 per cent lower than its lifetime high of 11,855.20. On the daily chart, the index has formed "Higher highs, higher lows" on closing basis. The weekly chart suggests support of 100-weekly moving average (WMA), trading above January 2017.   
 

The 50-day moving average (DMA) made a "Golden Crossover" with 200-DMA and is likely to cross 100-DMA soon, currently located at 11,120. The index is trading its 200-DMA, placed above 10,850 - 10,970 levels, since the last 32 sessions. The lower rising trend line support comes at 11,200 and resistance at 12,100 levels. 

Stocks

CMP

LIFETIME HIGH

  Close to  Life Time High ( 5 per cent)

Housing Development Finance Co

1961.95

2051

-4.34

HDFC Bank Ltd

2113.8

2219.05

-4.74

ICICI Bank Ltd

358.6

375.25

-4.44

Stocks

CMP

LIFETIME HIGH

Close to Life Time High ( 15 per cent)

Axis Bank Ltd

625.65

676.9

-7.57

Bajaj Finserv Ltd

6430.2

7200

-10.69

Bajaj Holdings & Investment Lt

2966.55

3295

-9.97

Bajaj Finance Ltd

2630.35

2995.1

-12.18

Kotak Mahindra Bank Ltd

1249

1424

-12.29

Mahindra & Mahindra Financial

470.25

537.5

-12.51

Nifty Next 50: The index is hovering around 100-DMA located in the range of 28,050 - 28,100 levels. The recent reversal from 27,137 indicates support of 50-DMA at 27,000 levels as per the chart. The immediate resistance stands at 28,550, its 200-DMA on the daily chart. The index needs to conquer 28,550 - 28,650 levels with strong volumes. Also, follow-up buying may lead the index to 31,000 levels, chart suggests.
 

The weekly chart also indicates struggle at the current range of 28,060 - 28,110 levels, its 100-WMA. A positive close above the range will fuel more buying in the index, chart suggests.

Stocks trading above 200 DMA

Stocks

CMP

200-DMA

ABB India Ltd

1325

1286.46

ACC Ltd

1480.05

1470.74

Ambuja Cements Ltd

222

219.16

Aurobindo Pharma Ltd

732.9

666.40

Biocon Ltd

624.85

621.69

Bosch Ltd

19607.9

18890.71

Britannia Industries Ltd

3115

2927.86

Colgate-Palmolive India Ltd

1317

1145.12

Container Corp Of India Ltd

682.75

646.58

Dabur India Ltd

425.05

393.19

Avenue Supermarts Ltd

1590.9

1476.44

Godrej Consumer Products Ltd

809

783.84

Havells India Ltd

691.15

600.29

Hindustan Zinc Ltd

277.6

272.43

ICICI Lombard General Insuranc

862.05

785.23

InterGlobe Aviation Ltd

1173.55

1094.87

Lupin Ltd

840.1

839.90

Marico Ltd

373.3

338.04

NHPC Ltd

26.05

25.57

Petronet LNG Ltd

226.25

217.88

Procter & Gamble Hygiene & Hea

9803.75

9707.59

Pidilite Industries Ltd

1099.8

1067.17

Shree Cement Ltd

16992

16489.26

Siemens Ltd

1055.7

999.59