Daily Technical Report
November 15, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18619) / NIFTY (5667)
The week began on a quiet note in-line with other global
bourses. Our benchmark indices then inched marginally
higher during the initial hour of the trade but corrected post
midsession. A minor recovery towards the latter part of the
day pushed indices near last Friday’s closing level. A similar
movement was seen on ‘Muhurat Trading Session’ also as
indices slipped marginally to close in the negative territory.
During Monday’s session, the Consumer Durable, Banking
and Realty sectors supported the market; whereas the Metal,
Capital Goods and Oil & Gas counters were among the
major draggers. The advance to decline ratio was in favor of
declining counters (A=1334 D=1461) (Source
-
www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18693 / 5683 and 18119/ 5498 levels, respectively.
The monthly ‘RSI’ oscillator is moving higher from the 50
mark and the positive in the ADX (9) indicator is intact.
The daily momentum oscillators viz, the ‘RSI’ and the
‘Stochastic’ are now signaling a negative crossover.
Source: Falcon:
Trading strategy:
Actionable points:
Considering last couple of trading sessions, we can infer that
in line with the global bourses our markets too are facing
View for the day
Bearish Below 5666
selling pressure at higher levels. The mentioned negative
Expected Target
5650 - 5583
crossover in daily momentum oscillators is intact. In addition,
Resistance Levels
5700 - 5735
the daily ‘3 & 8 EMA’ are also now signaling a negative
crossover. The impact of these technical evidences would be
seen if our markets sustain below 18608 / 5666 level. In this
case, we may witness further correction towards 18589 -
18393 / 5650 - 5583 levels. A breach of 18393 / 5583
may reinforce negative momentum and as a result, we may
witness further correction towards 18194 / 5515, which is
the 50% Fibonacci Retracement level of the rise from 17250
to 19138 / 5216 to 5815. On the flipside, 18733 / 5700
levels would act as intraday resistance in the coming trading
session.
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Daily Technical Report
November 15, 2012
Exhibit 2: Bank Nifty Hourly Chart
Bank Nifty Outlook - (11534)
On Monday, Bank Nifty opened on a flat note and traded
in a narrow range to close with a gain of 0.94%. The index
continued to take support near the “20 day EMA” and
managed to give a close well above it. Going forward we
believe the index is likely to trade in a broad range of
11800 - 11427. The negative positioning of momentum
oscillator “RSI” and “Stochastic” on the daily chart is still
intact. In the mentioned range 11648 - 11720 levels are
likely to act as resistance and 11502 - 11427 levels are
likely to act as support in coming trading session.
Actionable points:
View for the day
Bearish Below 11427
Expected Targets
11350 - 11252
Resistance Levels
11533 - 11600
Source: Falcon:
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Daily Technical Report
November 15, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,507
18,563
18,648
18,704
18,788
NIFTY
5,637
5,652
5,675
5,690
5,713
BANKNIFTY
11,464
11,499
11,549
11,584
11,633
ACC
1,401
1,412
1,428
1,440
1,456
AMBUJACEM
208
209
211
212
213
ASIANPAINT
4,043
4,063
4,091
4,112
4,140
AXISBANK
1,208
1,215
1,223
1,231
1,239
BAJAJ-AUTO
1,828
1,835
1,846
1,853
1,864
BANKBARODA
749
752
759
762
769
BHARTIARTL
279
281
282
284
286
BHEL
230
231
232
233
234
BPCL
328
331
333
335
338
CAIRN
330
331
332
333
334
CIPLA
391
392
394
396
397
COALINDIA
343
345
346
347
349
DLF
199
201
203
204
206
DRREDDY
1,722
1,739
1,763
1,780
1,804
GAIL
347
349
351
353
355
GRASIM
3,280
3,298
3,325
3,343
3,370
HCLTECH
610
613
617
620
624
HDFC
775
780
787
792
799
HDFCBANK
643
645
648
651
654
HEROMOTOCO
1,850
1,860
1,872
1,882
1,894
HINDALCO
112
113
113
114
114
HINDUNILVR
525
527
529
531
533
ICICIBANK
1,051
1,056
1,059
1,063
1,067
IDFC
159
161
163
164
166
INFY
2,317
2,328
2,344
2,355
2,371
ITC
281
283
284
286
287
JINDALSTEL
372
375
378
381
384
JPASSOCIAT
89
90
91
92
93
KOTAKBANK
611
614
619
622
627
LT
1,595
1,601
1,607
1,613
1,619
LUPIN
578
581
585
588
592
M&M
899
903
906
910
914
MARUTI
1,438
1,450
1,459
1,471
1,479
NTPC
165
166
167
168
169
ONGC
254
255
256
258
259
PNB
753
760
772
779
791
POWERGRID
118
119
120
120
121
RANBAXY
528
530
532
534
537
RELIANCE
780
785
788
793
797
RELINFRA
465
468
472
475
479
SBIN
2,144
2,158
2,174
2,188
2,204
SESAGOA
172
173
174
175
176
SIEMENS
671
675
678
682
685
SUNPHARMA
683
686
690
693
697
TATAMOTORS
274
276
279
281
284
TATAPOWER
99
99
100
101
101
TATASTEEL
382
384
386
388
389
TCS
1,313
1,319
1,328
1,334
1,343
ULTRACEMCO
1,932
1,960
1,990
2,017
2,047
WIPRO
364
367
370
372
375
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Daily Technical Report
November 15, 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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