Daily Technical Report
November 07, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18817) / NIFTY (5724)
Yesterday was another lackluster trading session for our
markets ahead of the US Presidential Elections. Our
benchmark indices traded with low volumes and closed
marginally below the mentioned resistance level of 18885 /
5729. Realty counters along with Healthcare and Power were
the outperformers for the day. However Auto, Consumer
Goods and IT sectors were among the major draggers. The
advance to decline ratio was in favor of advancing counters
(A=1519 D=1318) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18650 / 5669 and 18134 / 5502 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.
The 38.2% and 50% Fibonacci Retracement levels of the
Actionable points:
rise from 17250 to 19138 / 5216 to 5815 are placed at
18416 / 5586 and 18194 / 5515, respectively.
View for the day
Bullish Above 5731
Trading strategy:
Expected targets
5757 - 5816
Support levels
5679- 5650
Yesterday, although, the movement was choppy in the first
half, our markets managed to eventually close in the positive
territory. Further, we observed immense buying emerging
towards the last hour of the session. In the process, Nifty
sneaked slightly above
5729 level during the last five
minutes of the session but closed marginally below it. The
positive placement of all mentioned technical tools is still
intact. In addition, we are now observing that daily ‘RSI-
Smoothened’ oscillator have signaled a positive crossover.
The impact of this tool would be seen if our benchmark
indices sustain above 18885 / 5729 level. As we have been
mentioning in our earlier reports, the upside targets in this
case would be 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. On the flip
side, Monday’s low of 18683 / 5679 remains to be an
immediate support for our market. A breach of this level may
trigger intraday pessimism in the market.
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Daily Technical Report
November 07, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11539)
Yesterday, Bank Nifty opened on a flat note and traded
with choppiness to close with a gain of 0.56%. The
probability of “Falling Three” candlestick pattern
mentioned in our previous report has now been ruled out
as the index has managed to give a close above the
11467 level. During the day, the index has tested the
78.6% Fibonacci retracement level of the fall form 11656
- 11125, but closed marginally below it. The momentum
oscillator “Stochastic” on the daily chart continue with its
buy signal. For the day we expect 11612 - 11657 levels
to act as resistance levels. On the downside 11468 -
11394 levels may act as support for the day.
Actionable points:
View for the day
Neutral
Resistance Levels
11612 - 11657
Support Levels
11468 - 11394
Source: Falcon:
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Daily Technical Report
November 07, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,689
18,753
18,791
18,855
18,893
NIFTY
5,679
5,702
5,716
5,739
5,753
BANKNIFTY
11,371
11,455
11,512
11,596
11,652
ACC
1,415
1,444
1,462
1,491
1,509
AMBUJACEM
207
211
214
218
220
ASIANPAINT
3,893
3,994
4,051
4,153
4,210
AXISBANK
1,198
1,209
1,217
1,228
1,236
BAJAJ-AUTO
1,809
1,828
1,851
1,870
1,893
BANKBARODA
734
744
750
761
767
BHARTIARTL
268
271
274
277
280
BHEL
228
230
232
235
236
BPCL
336
339
341
343
345
CAIRN
326
328
329
331
332
CIPLA
385
391
395
401
405
COALINDIA
344
348
352
356
360
DLF
200
203
205
208
210
DRREDDY
1,765
1,776
1,789
1,800
1,813
GAIL
352
358
362
367
371
GRASIM
3,257
3,308
3,354
3,406
3,452
HCLTECH
601
604
611
615
621
HDFC
760
772
778
790
797
HDFCBANK
631
635
638
643
645
HEROMOTOCO
1,894
1,915
1,935
1,956
1,976
HINDALCO
110
111
113
114
115
HINDUNILVR
523
528
531
536
540
ICICIBANK
1,060
1,070
1,079
1,089
1,098
IDFC
160
161
163
165
167
INFY
2,351
2,366
2,386
2,402
2,422
ITC
284
286
289
292
294
JINDALSTEL
376
381
386
391
395
JPASSOCIAT
86
87
88
90
91
KOTAKBANK
616
622
625
631
634
LT
1,639
1,652
1,667
1,681
1,696
LUPIN
581
584
587
591
593
M&M
895
905
913
923
931
MARUTI
1,425
1,438
1,457
1,470
1,488
NTPC
166
167
168
170
171
ONGC
263
265
267
270
272
PNB
742
750
756
764
771
POWERGRID
115
117
119
121
122
RANBAXY
527
538
543
553
559
RELIANCE
792
799
803
810
814
RELINFRA
466
473
481
487
495
SBIN
2,114
2,144
2,161
2,190
2,207
SESAGOA
172
174
176
177
179
SIEMENS
693
702
707
716
722
SUNPHARMA
685
692
698
705
711
TATAMOTORS
261
264
268
271
276
TATAPOWER
104
105
106
107
108
TATASTEEL
392
395
398
401
403
TCS
1,308
1,314
1,326
1,332
1,344
ULTRACEMCO
2,011
2,015
2,020
2,024
2,028
WIPRO
357
362
364
369
372
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Daily Technical Report
November 07, 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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