Daily Technical Report
November 02, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18562) / NIFTY (5645)
Yesterday in line with global markets, our benchmark indices
too opened on a quiet note. Further, in the later half indices
picked up substantial upward momentum to close at the
highest point of the session. The Consumer Durables sector
led the rally and was supported by the Realty and Auto
counters. The FMCG and Oil & Gas counters remained
under pressure for yet another trading session. The advance
to decline ratio was strongly in favor of advancing counters
(A=1673 D=1162) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18650 / 5667 and 17986 / 5456 levels, respectively.
The monthly ‘RSI’ oscillator is moving higher from the 50
mark and the positive in the ADX (9) indicator is intact.
The negative crossover in the weekly ‘Stochastic’
oscillator is still intact.
The 38.2% and 50% Fibonacci Retracement levels of the
rise from 17250 to 19138 / 5216 to 5815 are placed at
Source: Falcon:
18416 / 5586 and 18194 / 5515, respectively.
Trading strategy:
Actionable points:
Our benchmark indices are showing tremendous resilience
View for the day
Bullish Above 5655
since last two trading sessions as prices are not willing to
sustain below the 5600 (Nifty) mark. We are observing
Expected targets
5690 - 5729
immense buying interest in many individual stocks. Indices
Support levels
5602- 5583
are now hovering around their ’20-day EMA’ placed at
18610 /5655 level. After breaking this support zone on
Tuesday’s session, indices have now bounced back towards
it. We advise traders to create intraday long positions only if
indices manage to sustain above 18610 / 5655 level. In this
case, indices may bounce further to test their next resistance
level of 18718 / 5690. On the flipside, the downward
momentum is likely to resume only on the violation of
Wednesday’s low of 18398 / 5583.
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Daily Technical Report
November 02, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11315)
Unlike our benchmark indices, yesterday Bank Nifty
remained in a narrow range and ended with marginal
gain of 0.41%. As mentioned in our previous report the
index consolidated for yet another session. Yesterday, we
witnessed that the positive sentiments led the Bank Nifty to
test 38% Fibonacci retracement level of the recent fall from
11656 - 11125 levels. Going forward, if index sustain
above yesterday’s high of 11349 then we may witness
further bounce till 11391 - 11454 levels. Since, we are
observing negative crossover in
“5&20 day EMA”,
yesterday’s low of 11230 will now act as a crucial support
level in coming trading session.
Actionable points:
View for the day
Bullish Above 11349
Expected Targets
11391 - 11454
Support Levels
11230 - 11163
Source: Falcon:
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Daily Technical Report
November 02, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,388
18,475
18,532
18,619
18,676
NIFTY
5,584
5,615
5,632
5,663
5,680
BANKNIFTY
11,179
11,247
11,298
11,366
11,417
ACC
1,360
1,378
1,389
1,406
1,417
AMBUJACEM
198
201
203
206
208
ASIANPAINT
3,823
3,851
3,869
3,897
3,916
AXISBANK
1,165
1,186
1,198
1,219
1,231
BAJAJ-AUTO
1,794
1,820
1,837
1,862
1,879
BANKBARODA
714
724
731
741
747
BHARTIARTL
265
273
277
286
290
BHEL
222
224
226
228
230
BPCL
334
336
338
340
342
CAIRN
329
331
335
338
341
CIPLA
361
368
372
379
383
COALINDIA
342
345
347
350
352
DLF
200
202
204
206
207
DRREDDY
1,752
1,759
1,765
1,772
1,778
GAIL
341
343
347
349
353
GRASIM
3,249
3,299
3,330
3,381
3,412
HCLTECH
601
604
609
613
617
HDFC
755
759
762
766
769
HDFCBANK
622
626
631
634
639
HEROMOTOCO
1,848
1,879
1,898
1,929
1,949
HINDALCO
114
115
116
117
118
HINDUNILVR
527
532
536
542
546
ICICIBANK
1,039
1,048
1,055
1,064
1,070
IDFC
159
163
165
168
171
INFY
2,330
2,347
2,359
2,376
2,387
ITC
274
277
280
282
285
JINDALSTEL
378
385
390
397
402
JPASSOCIAT
85
87
89
90
92
KOTAKBANK
591
602
608
619
625
LT
1,607
1,619
1,631
1,643
1,655
LUPIN
560
563
567
570
573
M&M
870
885
894
909
919
MARUTI
1,426
1,443
1,455
1,472
1,484
NTPC
164
165
165
166
167
ONGC
261
263
265
267
270
PNB
725
738
746
760
767
POWERGRID
114
116
117
118
119
RANBAXY
519
525
529
535
540
RELIANCE
781
794
802
814
822
RELINFRA
467
474
480
487
493
SBIN
2,087
2,101
2,113
2,127
2,139
SESAGOA
168
170
172
174
176
SIEMENS
680
688
693
702
707
SUNPHARMA
683
692
698
707
713
TATAMOTORS
252
260
265
272
277
TATAPOWER
104
105
106
107
108
TATASTEEL
389
393
396
401
404
TCS
1,305
1,310
1,315
1,320
1,325
ULTRACEMCO
1,959
1,978
1,995
2,014
2,031
WIPRO
340
351
358
369
376
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Daily Technical Report
November 02, 2012
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
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