Daily Technical Report
November 22, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18460) / NIFTY (5615)
Yesterday Indices opened marginally higher in-line with
positive Asian bourses and strong buying interest was seen
as the day progressed. The Nifty surged significantly to close
well above the psychological level of 5600. Tuesday’s most
beaten down sector, Realty, bounced back sharply on
Wednesday, along with the FMCG and Consumer Durables;
whereas the Power and Auto counters remained under
pressure throughout the day. The advance to decline ratio
was marginally in favor of advancing counters (A=1494
D=1354) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18565 / 5647 and 18168 / 5516 levels, respectively.
The weekly ‘RSI - Smoothened’ is now signaling a
negative crossover.
Trading strategy:
After couple of consecutive choppy sessions, finally indices
Source: Falcon:
have managed to move in a single direction for most of the
trading session. Leaving aside the initial hour, rest of the
session was dominated by the bulls. In the process, indices
Actionable points:
have managed to cross 18387 / 5593 and hence we can
now confirm a 'Homing Pigeon' pattern in Sensex. Going
View for the day
Bullish above 5620
forward, a sustainable move beyond yesterday's high of
Expected Targets
5662 - 5690
18479 / 5620 may further push higher to test 18615 / 5662
Support Levels
5548 - 5515
level. On the flipside, a fall and close below the low of
18256 / 5548 would resume last Friday’s negative trend.
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Daily Technical Report
November 22, 2012
Exhibit 2: Bank Nifty Hourly Chart
Bank Nifty Outlook - (11465)
Yesterday, Bank Nifty opened on a flat note and gained
strength as the day progressed to close near day’s high.
The “Tweezer Bottom” candlestick pattern mentioned in the
previous report has now been confirmed as the index has
managed to give a close well above the 11330 mark. We
are now witnessing a positive crossover in “RSI” and
“Stochastic” momentum oscillator on the daily chart. The
effect of the mentioned oscillator would be seen if the
index sustains above yesterday’s high of 11477. In this
case the index is likely to rally towards 11542 - 11620
levels. On the downside 11428 - 11395 are likely to act
as support in coming trading session.
Actionable points:
View for the day
Bullish Above 11477
Expected Targets
11542 - 11620
Support Levels
11428 - 11395
Source: Falcon:
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Daily Technical Report
November 22, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,248
18,354
18,416
18,523
18,585
NIFTY
5,540
5,577
5,599
5,636
5,658
BANKNIFTY
11,242
11,354
11,415
11,527
11,589
ACC
1,354
1,369
1,382
1,397
1,409
AMBUJACEM
192
196
198
202
204
ASIANPAINT
3,798
3,859
3,897
3,958
3,996
AXISBANK
1,210
1,223
1,232
1,245
1,254
BAJAJ-AUTO
1,800
1,809
1,825
1,835
1,851
BANKBARODA
709
720
727
738
745
BHARTIARTL
300
304
307
311
314
BHEL
215
219
224
228
233
BPCL
322
325
327
331
333
CAIRN
323
325
329
331
335
CIPLA
375
382
387
395
400
COALINDIA
349
352
354
357
358
DLF
194
198
201
204
207
DRREDDY
1,718
1,727
1,735
1,744
1,752
GAIL
340
343
346
349
351
GRASIM
3,112
3,146
3,179
3,213
3,246
HCLTECH
604
611
615
622
626
HDFC
767
773
777
783
788
HDFCBANK
644
654
660
670
675
HEROMOTOCO
1,769
1,788
1,811
1,830
1,852
HINDALCO
105
106
107
108
109
HINDUNILVR
514
519
523
528
531
ICICIBANK
1,019
1,032
1,039
1,052
1,060
IDFC
153
156
157
160
161
INFY
2,303
2,326
2,345
2,369
2,388
ITC
275
281
284
289
293
JINDALSTEL
361
368
375
382
388
JPASSOCIAT
83
86
88
91
93
KOTAKBANK
617
623
627
633
636
LT
1,530
1,548
1,558
1,576
1,586
LUPIN
552
557
566
571
580
M&M
929
937
944
951
958
MARUTI
1,468
1,480
1,492
1,504
1,516
NTPC
157
159
164
167
171
ONGC
249
251
252
254
255
PNB
717
723
730
735
743
POWERGRID
118
119
121
122
124
RANBAXY
503
510
514
522
526
RELIANCE
756
764
769
776
782
RELINFRA
445
450
454
459
463
SBIN
2,025
2,043
2,059
2,077
2,092
SESAGOA
163
165
166
167
169
SIEMENS
658
663
668
673
678
SUNPHARMA
672
686
695
709
717
TATAMOTORS
262
264
266
268
270
TATAPOWER
96
98
100
102
103
TATASTEEL
357
361
364
368
370
TCS
1,266
1,274
1,284
1,293
1,303
ULTRACEMCO
1,855
1,894
1,917
1,956
1,979
WIPRO
358
362
365
370
372
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Daily Technical Report
November 22, 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
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Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
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Technical Analyst
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