Daily Technical Report
November 05, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18755) / NIFTY (5698)
During the sideways consolidation of the last four weeks,
Friday’s trading session was the first in which markets
opened with a significant gap and traded with positive bias
throughout the day to close marginally below 5700 mark
with 1% gain. All the sectoral indices participated in Friday’s
rally, among which Consumer Goods, PSU and Auto
counters were major gainers. The advance to decline ratio
was strongly in favor of advancing counters (A=1541
D=1320) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18625 / 5659 and 18060/ 5478 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 daily momentum oscillators and ‘3 & 8 EMA’ are
Source: Falcon:
now signaling a positive crossover.
Actionable points:
The 38.2% and 50% Fibonacci Retracement levels of the
rise from 17250 to 19138 / 5216 to 5815 are placed at
View for the day
Bullish Above 5729
18416 / 5586 and 18194 / 5515, respectively.
Expected targets
5757 - 5816
Trading strategy:
Support levels
5683- 5650
Clearly, the bears were completely overwhelmed by the
bullish move in the second half of the previous week. Despite
On the flipside, last week’s low of 18393/ 5583 would act as a
a breakdown from the support level of 18535 / 5633 (tested
key support in coming trading sessions. A sustainable move
a multiple number of times earlier) post the RBI Monetary
below this level may lead to a near-term pessimism in the
policy, the bulls managed to stage a comeback and pulled
market and as a result, the market may slide towards 18194 /
the indices from the lows. We are now observing that the
5515, which is the 50% Fibonacci Retracement level of the rise
technical tools like, the ‘3 & 8 EMA’ and the momentum
from 17250 to 19138 / 5216 to 5815, respectively.
oscillators have signaled a positive crossover. Thus, going
forward, if our benchmark indices sustain above 18535 /
5729 level, which was the upper end of the hourly channel
mentioned in our previous report, we are likely to witness a
rally towards 18973 - 19138 / 5757 - 5816. A move
beyond 19138 / 5816 would attract immense optimism in
the market and as a result, the up move may get extended
towards 19542 - 19812 / 5850 - 5945 levels.
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Daily Technical Report
November 05, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11460)
On Friday, Bank Nifty opened with an upside gap and
traded in a narrow range thereafter to close with a gain of
1.29%. We are now witnessing a positive crossover in
“Stochastic” momentum oscillator on the daily chart. The
effect of this crossover would be seen if the index sustains
above Friday’s high of 11478. In this scenario the index is
likely to rally towards 11543 - 11600 levels. On the
contrary considering the last three day candles it can be
said that a “Falling Three” candlestick pattern is in the
making. The mentioned pattern is a bearish pattern but
requires confirmation in the form of a close below the
11174 mark. A move below this level may result in selling
pressure over the coming few sessions. For the day the
index is likely to find support near 11390 - 11299.
Actionable points:
View for the day
Neutral
Resistance Levels
11543 - 11600
Source: Falcon:
Support Levels
11390 - 11299
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Daily Technical Report
November 05, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,640
18,698
18,746
18,803
18,852
NIFTY
5,668
5,683
5,697
5,712
5,726
BANKNIFTY
11,361
11,411
11,444
11,494
11,527
ACC
1,390
1,399
1,408
1,417
1,427
AMBUJACEM
205
206
207
209
210
ASIANPAINT
3,861
3,882
3,901
3,922
3,941
AXISBANK
1,203
1,209
1,219
1,225
1,234
BAJAJ-AUTO
1,831
1,864
1,885
1,919
1,940
BANKBARODA
728
735
741
748
754
BHARTIARTL
268
272
278
281
287
BHEL
226
228
230
232
234
BPCL
331
333
338
340
345
CAIRN
333
334
335
336
338
CIPLA
372
375
378
380
383
COALINDIA
345
348
350
353
355
DLF
202
204
206
208
210
DRREDDY
1,758
1,766
1,774
1,783
1,791
GAIL
341
350
355
364
370
GRASIM
3,337
3,350
3,367
3,379
3,397
HCLTECH
605
610
615
620
625
HDFC
759
763
768
771
776
HDFCBANK
622
626
632
636
642
HEROMOTOCO
1,909
1,927
1,939
1,957
1,968
HINDALCO
115
116
118
119
120
HINDUNILVR
526
530
536
539
545
ICICIBANK
1,059
1,069
1,076
1,086
1,093
IDFC
166
167
168
169
170
INFY
2,352
2,370
2,387
2,405
2,423
ITC
278
281
284
286
289
JINDALSTEL
379
384
392
397
405
JPASSOCIAT
86
87
89
91
92
KOTAKBANK
605
609
614
617
622
LT
1,630
1,653
1,667
1,690
1,704
LUPIN
566
573
577
584
588
M&M
900
909
915
924
930
MARUTI
1,443
1,454
1,466
1,477
1,489
NTPC
165
167
168
169
170
ONGC
262
264
266
268
270
PNB
741
748
756
763
770
POWERGRID
117
117
118
119
119
RANBAXY
530
535
538
543
546
RELIANCE
796
802
808
814
821
RELINFRA
478
482
488
492
497
SBIN
2,112
2,132
2,146
2,166
2,179
SESAGOA
171
173
175
177
179
SIEMENS
698
700
703
706
708
SUNPHARMA
685
691
699
705
714
TATAMOTORS
262
266
269
273
276
TATAPOWER
105
106
107
107
108
TATASTEEL
396
399
402
405
407
TCS
1,310
1,320
1,329
1,340
1,349
ULTRACEMCO
2,004
2,012
2,020
2,028
2,036
WIPRO
351
358
365
372
380
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Daily Technical Report
November 05, 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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