Daily Technical Report
November 12, 2014
Sensex (27910) / Nifty (8363)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened marginally higher
on the back of mixed global cues. However, the price
movement in the remaining part was quite similar to
previous few sessions. On the sectoral front, the Auto,
Banking, Capital Goods and Realty sectors were among the
major gainers; whereas the Consumer Durables, FMCG
and IT counters remained under pressure. The advance to
decline ratio was marginally in favor of the advancing
counters. (A=1568 D=1452) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
26157 / 7816 and 22767 / 6809 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
27093 / 8094 and 26225 / 7837 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
It was the fifth consecutive session where our market
View
Neutral
remained within a narrow range for the entire session.
Support Levels
8290 - 8250
However, unlike the previous sessions, we witnessed a
Resistance Levels
8400 - 8450
decent buying interest in most of the counters towards the
latter part of the day. We maintain our positive stance on
the market and we continue to expect the Nifty to test the
near term targets of 8450 - 8550, which is the 127% ‘Price
extension’ zone. The positive momentum in the market may
get resumed once the index manages to give an hourly
closing above 8380 mark. Traders are advised to stay with
the flow and avoid initiating short positions. On the flipside,
the immediate support levels are seen around 8280 -
8250.
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Daily Technical Report
November 12, 2014
Bank Nifty Outlook - (17390)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened on a muted
note in line with the Nifty. However, the Bank Nifty traded
with a positive bias for the most part of the session. The
first half was dominated by the heavyweight private
banking conglomerates and the later was led by the PSU
banks. As a result, the Bank Nifty managed to post the
gains of nearly half a percent. Going forward, a
sustainable move beyond the 17400 mark may push the
index higher to test 17500 - 17600 levels. However, it’s
not advisable to trade in the index at current levels due to
unfavorable risk to reward ratio. On the flipside, 17200
may provide a decent support in the coming trading
session.
Actionable points:
View
Neutral
Resistance Levels
17500 - 17600
Support Level
17200
Source: Falcon
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Daily Technical Report
November 12, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,693
27,801
27,899
28,008
28,106
NIFTY
8,298
8,330
8,354
8,387
8,411
BANKNIFTY
17,135
17,262
17,348
17,476
17,562
ACC
1,495
1,504
1,511
1,521
1,528
AMBUJACEM
219
222
224
227
229
ASIANPAINT
639
644
650
655
661
AXISBANK
458
462
465
470
473
BAJAJ-AUTO
2,526
2,538
2,549
2,561
2,572
BANKBARODA
955
984
1,002
1,030
1,048
BHARTIARTL
377
381
387
391
398
BHEL
239
242
246
249
253
BPCL
757
762
768
773
779
CAIRN
269
272
275
278
281
CIPLA
623
630
641
648
659
COALINDIA
339
342
347
351
356
DLF
130
133
136
139
141
DRREDDY
3,374
3,396
3,423
3,445
3,472
GAIL
479
485
488
494
497
GRASIM
3,565
3,590
3,614
3,639
3,663
HCLTECH
1,594
1,605
1,616
1,627
1,638
HDFC
1,101
1,114
1,124
1,137
1,147
HDFCBANK
894
901
909
916
924
HEROMOTOCO
2,890
2,907
2,931
2,947
2,971
HINDALCO
147
149
152
154
157
HINDUNILVR
759
766
771
778
783
ICICIBANK
1,644
1,665
1,678
1,699
1,712
IDFC
151
153
154
156
158
INDUSINDBK
712
716
723
727
734
INFY
4,070
4,098
4,131
4,159
4,193
ITC
357
360
366
370
376
JINDALSTEL
149
152
156
159
162
KOTAKBANK
1,092
1,100
1,108
1,115
1,123
LT
1,608
1,623
1,631
1,646
1,655
LUPIN
1,411
1,421
1,431
1,441
1,452
M&M
1,220
1,240
1,253
1,273
1,286
MARUTI
3,275
3,302
3,318
3,346
3,362
NMDC
154
155
158
159
162
NTPC
144
145
146
147
148
ONGC
383
389
394
400
405
PNB
911
933
945
966
978
POWERGRID
144
146
148
150
152
RELIANCE
956
967
977
988
999
SBIN
2,678
2,709
2,736
2,767
2,793
SSLT
239
242
246
248
252
SUNPHARMA
903
910
917
924
931
TATAMOTORS
512
517
522
527
533
TATAPOWER
92
93
93
94
95
TATASTEEL
468
474
478
484
488
TCS
2,538
2,559
2,577
2,598
2,615
TECHM
2,588
2,609
2,636
2,658
2,685
ULTRACEMCO
2,557
2,602
2,627
2,672
2,697
WIPRO
552
554
558
561
564
ZEEL
359
367
371
379
384
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Daily Technical Report
November 12, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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