Daily Technical Report
November 27, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18537) / NIFTY (5636)
The week began on an optimistic note on the back of
positive Asian cues. Subsequently, indices traded in a tight
range of nearly half a percent throughout the session.
However, strong price movement was seen in many of the
mid cap counters. Eventually, session ended with very
nominal gains. The IT, Consumer Durables and Metal
counters have outperformed during yesterday’s session;
whereas the PSU, Banking and Auto sectors provided a
decent resistance for the market. The advance to decline
ratio was in favor of advancing counters (A=1577 D=1223)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18556 / 5643 and 18172/ 5517 levels, respectively.
The negative crossover in weekly ‘RSI - Smoothened’ is
still intact.
We are observing two ‘Narrow Range Body’ formations
on daily chart.
Source: Falcon:
Trading strategy:
Despite, strong rally in US and European markets on Friday,
Actionable points:
our benchmark indices failed to carry forward the positive
sentiments and traded in a narrow range throughout the
View for the day
Bullish above 5650
session. In the last few sessions, every attempt to cross the
stiff resistance of 18564 / 5650, has failed. We are now
Expected Targets
5698 - 5720
observing a cluster of ‘Narrow Range’ body formations near
Support Levels
5593 - 5548
this resistance of 18564 / 5650 which nearly coincides with
the ’20-day EMA’. We reiterate our view that any closing
above 18564 / 5650, may lead to a rally towards the next
resistance level of 18812 / 5720. On the flipside, a fall
below 18402 / 5593, may lead to short term pessimism in
the market.
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Daily Technical Report
November 27, 2012
Exhibit 2: Bank Nifty Hourly Chart
Bank Nifty Outlook - (11432)
Yesterday, in line with our benchmark indices, Bank Nifty
too traded within the mentioned range of 11370 - 11570.
There are no major changes in the daily chart structure of
Bank Nifty. Hence we reiterate our view that the bullish
nature of the hourly “Inverted Head & Shoulder” pattern
will be confirmed once the index sustains above 11570
level. In this scenario the Bank Nifty is likely to rally
towards 11626 - 11707 levels. For the day, 11534 -
11570 levels may act as an intraday resistance. On the
downside 11370 remains to be a crucial support for the
index.
Actionable points:
View for the day
Bullish Above 11570
Expected Targets
11626 - 11707
Support Levels
11370 - 11306
Source: Falcon:
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Daily Technical Report
November 27, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,464
18,500
18,545
18,582
18,627
NIFTY
5,610
5,623
5,636
5,649
5,662
BANKNIFTY
11,336
11,384
11,459
11,507
11,582
ACC
1,362
1,372
1,381
1,392
1,401
AMBUJACEM
198
200
202
203
205
ASIANPAINT
4,013
4,048
4,085
4,120
4,157
AXISBANK
1,237
1,251
1,262
1,276
1,286
BAJAJ-AUTO
1,805
1,813
1,824
1,833
1,844
BANKBARODA
714
719
726
731
738
BHARTIARTL
305
307
309
312
314
BHEL
217
219
222
225
228
BPCL
310
313
318
320
325
CAIRN
322
324
327
329
332
CIPLA
375
378
382
385
388
COALINDIA
354
357
360
363
365
DLF
198
199
201
202
203
DRREDDY
1,721
1,740
1,758
1,777
1,794
GAIL
331
334
338
341
346
GRASIM
3,144
3,172
3,198
3,226
3,252
HCLTECH
629
635
640
646
651
HDFC
765
770
777
783
790
HDFCBANK
652
657
665
670
679
HEROMOTOCO
1,812
1,822
1,832
1,842
1,852
HINDALCO
107
108
109
111
112
HINDUNILVR
523
530
535
542
547
ICICIBANK
1,003
1,011
1,023
1,031
1,043
IDFC
155
159
161
164
166
INFY
2,379
2,398
2,410
2,429
2,440
ITC
284
285
287
288
290
JINDALSTEL
367
369
374
377
382
JPASSOCIAT
88
88
89
90
91
KOTAKBANK
617
622
626
631
635
LT
1,579
1,595
1,605
1,620
1,630
LUPIN
556
561
564
569
572
M&M
894
908
934
948
975
MARUTI
1,476
1,484
1,493
1,500
1,509
NTPC
155
157
159
161
163
ONGC
247
248
251
253
255
PNB
727
733
739
745
751
POWERGRID
118
119
120
121
122
RANBAXY
485
491
496
503
508
RELIANCE
766
770
775
778
783
RELINFRA
451
454
458
462
465
SBIN
2,064
2,078
2,094
2,108
2,124
SESAGOA
164
166
168
170
172
SIEMENS
646
656
662
672
678
SUNPHARMA
683
690
700
706
716
TATAMOTORS
259
261
264
266
270
TATAPOWER
102
102
103
104
105
TATASTEEL
361
367
370
376
379
TCS
1,281
1,287
1,291
1,298
1,302
ULTRACEMCO
1,824
1,846
1,879
1,901
1,934
WIPRO
363
369
373
379
383
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Daily Technical Report
November 27, 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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