Daily Technical Report
November 13, 2013
Sensex (20282) / Nifty (6018)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets opened slightly in the green
considering mixed global cues. Subsequently, selling pressure
intensified in the second half and as a result, the Nifty yet
again closed well inside the positive territory. On the sectoral
front, the FMCG counters somehow managed to close in the
green; whereas the Metal, Auto and Power, counters were the
major losers in trade. The advance to decline ratio was strongly
in favor of the declining counters. (A=975 D=1489)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
19963 / 5939 and 18984 / 5704 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20669 / 6140 and 20002 / 5952 levels, respectively.
The monthly momentum oscillators are now positively
poised; whereas the daily and weekly momentum
oscillators are contradictory.
Source: Falcon
On the monthly chart, we are observing a breakout from
the ‘Multiple Resistance Zone’ (on line chart).
Actionable points:
Trading strategy:
View
Bearish below 6011
Yet another trading session turned in favor of the bears as the
Expected targets
5950 - 5900
Nifty shed another percent from the previous day's closing.
Resistance Level
6109
Similar to other sessions, yesterday to the index showed dual
sentiments as the intraday bounce once again got sold into. As
expected and mentioned in our previous report, the index has
now fallen below the 6032 level. Going forward, considering
the placement of the weekly momentum oscillators and the
overall Elliot Wave count we are of the view that a sustainable
move below yesterday's low of 6011 may lead to a quick fall
towards 5950 - 5900 level. On the flipside, the immediate
resistance level is seen at 6109 level. Only a close above this
mark would warrant a revision of the bearish perspective.
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Daily Technical Report
November 13, 2013
Bank Nifty Outlook - (10583)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened quietly in-line with
our benchmark indices. Subsequently, this index too
made a valiant attempt to move higher in the first half but
pared all gains to ultimately close one and half a percent
lower. At present, the prices have marginally sneaked
below the strong support of daily '89 EMA'
(10694).
Going forward, if Bank Nifty sustains below yesterday’s
low of 10543, then we may see significant downside up
to the level of 10387. On the flip side, 10694 - 10860
levels would act as an immediate resistance for the Bank
Nifty.
Actionable points:
View
Bearish Below 10543
Support Levels
10387 - 10274
Resistance Level
10694 - 10861
Source: Falcon
Technical Calls
Date
Stock
Segment
Action
Price Range
CMP
SL
Target
13/11/2013
SAIL
Future
Sell
Below 61.50
62.20
63.25
59.25
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Daily Technical Report
November 13, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,054
20,168
20,376
20,490
20,698
NIFTY
5,949
5,984
6,046
6,081
6,143
BANKNIFTY
10,345
10,464
10,662
10,781
10,979
ACC
990
1,007
1,033
1,050
1,076
AMBUJACEM
169
171
174
175
178
ASIANPAINT
514
522
537
545
559
AXISBANK
1,005
1,026
1,059
1,081
1,114
BAJAJ-AUTO
1,992
2,009
2,032
2,049
2,072
BANKBARODA
556
566
584
594
612
BHARTIARTL
331
335
339
342
347
BHEL
129
130
133
134
137
BPCL
332
336
340
344
348
CAIRN
316
318
321
324
327
CIPLA
414
417
422
426
430
COALINDIA
280
282
286
289
292
DLF
137
141
146
150
156
DRREDDY
2,438
2,454
2,471
2,487
2,505
GAIL
326
329
333
336
341
GRASIM
2,600
2,624
2,660
2,684
2,720
HCLTECH
1,077
1,087
1,104
1,114
1,131
HDFC
780
787
801
808
821
HDFCBANK
631
639
651
658
670
HEROMOTOCO
2,010
2,023
2,040
2,053
2,070
HINDALCO
107
109
112
114
116
HINDUNILVR
569
572
576
578
582
ICICIBANK
986
1,000
1,021
1,034
1,056
IDFC
99
101
103
105
107
INDUSINDBK
399
407
420
427
440
INFY
3,300
3,318
3,347
3,365
3,394
ITC
315
318
319
322
323
JINDALSTEL
229
233
236
239
242
JPASSOCIAT
42
43
45
46
48
KOTAKBANK
701
708
719
727
737
LT
901
915
937
951
974
LUPIN
859
866
878
886
898
M&M
856
868
876
888
896
MARUTI
1,557
1,572
1,597
1,612
1,637
NMDC
128
129
131
133
135
NTPC
146
148
150
151
154
ONGC
260
263
268
271
276
PNB
487
496
511
520
535
POWERGRID
94
95
95
96
97
RANBAXY
407
411
417
421
426
RELIANCE
837
845
858
866
880
RELINFRA
400
410
426
436
452
SBIN
1,638
1,656
1,686
1,704
1,734
SESAGOA
186
189
193
196
201
SUNPHARMA
589
594
600
604
611
TATAMOTORS
345
352
366
374
387
TATAPOWER
77
78
80
81
84
TATASTEEL
342
347
355
361
369
TCS
2,053
2,070
2,096
2,113
2,139
ULTRACEMCO
1,856
1,870
1,892
1,906
1,928
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Daily Technical Report
November 13, 2013
Research Team Tel: 022 - 30940000
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Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
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