Daily Technical Report
November 13, 2014
Sensex (28009) / Nifty (8383)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets opened marginally higher on the
back of mixed global cues. Subsequently, the index made a
surge beyond 8400; but failed to sustain above it. As a
result, the Nifty eventually closed slightly inside the positive
territory. On the sectoral front, the Auto, Banking, FMCG
and Consumer Durables sectors were among the major
gainers; whereas the Power, Metal, Oil & Gas and Capital
Goods counters remained under pressure. The advance to
decline ratio was marginally in favor of the advancing
counters. (A=1536 D=1513) (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:
As mentioned in our previous report, a strong buying
View
Neutral
interest in most of the counters got reflected in yesterday's
Support Levels
8320 - 8280
first half. The Nifty reached yet another milestone by
Resistance Levels
8420 - 8450
surpassing the 8400 mark. However, the index failed to
hold its position above it and eventually posted a close
marginally below 8400. The price movement in last few
days’ clearly indicates that the market is lacking a strong
participation from the bulls. The overall chart structure still
remains positive and we continue to expect the Nifty to test
the near term targets of 8450 - 8550, which is the 127%
‘Price extension’ zone. However, this may happen in a
gradual manner considering the ongoing momentum. On
the flipside, the immediate support levels are seen around
8320 - 8280.
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Daily Technical Report
November 13, 2014
Bank Nifty Outlook - (17587)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index opened with an upside gap
and unlike the Nifty, continued its northward movement
throughout the session. As a result, the Bank Nifty
completely showed its outperformance by gaining more
than a percent on a closing basis. In this process, the
Bank Nifty met with our both targets of 17500 - 17600.
The index has now reached the 127% ‘Price-Extension’ of
the previous up move, which is placed at 17600. Hence,
going forward, any sustainable move beyond 17600 may
extend this rally towards 17750 - 17850 levels. On the
flipside, the immediate support level is now seen around
17400.
Actionable points:
View
Neutral
Resistance Levels
17600 - 17750
Support Level
17400
Source: Falcon
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Daily Technical Report
November 13, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,864
27,936
28,031
28,104
28,199
NIFTY
8,345
8,364
8,390
8,409
8,434
BANKNIFTY
17,376
17,482
17,559
17,664
17,741
ACC
1,499
1,506
1,519
1,527
1,539
AMBUJACEM
224
227
229
231
233
ASIANPAINT
634
639
647
652
660
AXISBANK
460
471
477
487
493
BAJAJ-AUTO
2,516
2,558
2,591
2,633
2,667
BANKBARODA
996
1,007
1,016
1,027
1,036
BHARTIARTL
381
384
387
390
392
BHEL
242
245
248
251
254
BPCL
752
759
767
774
782
CAIRN
269
271
273
274
276
CIPLA
599
609
626
635
653
COALINDIA
341
344
347
349
352
DLF
135
137
139
142
144
DRREDDY
3,398
3,419
3,440
3,461
3,483
GAIL
480
483
487
490
495
GRASIM
3,439
3,537
3,599
3,697
3,758
HCLTECH
1,576
1,588
1,604
1,616
1,632
HDFC
1,119
1,131
1,140
1,152
1,162
HDFCBANK
896
904
912
920
928
HEROMOTOCO
2,907
2,937
2,956
2,986
3,005
HINDALCO
149
150
152
153
155
HINDUNILVR
759
765
769
774
778
ICICIBANK
1,684
1,696
1,705
1,718
1,727
IDFC
152
155
157
160
162
INDUSINDBK
717
722
726
731
734
INFY
4,064
4,085
4,118
4,139
4,172
ITC
362
366
368
372
374
JINDALSTEL
147
150
154
157
160
KOTAKBANK
1,092
1,109
1,121
1,138
1,150
LT
1,586
1,600
1,622
1,636
1,658
LUPIN
1,406
1,414
1,426
1,435
1,447
M&M
1,234
1,244
1,258
1,268
1,282
MARUTI
3,286
3,323
3,347
3,384
3,408
NMDC
152
154
156
158
159
NTPC
139
141
143
145
148
ONGC
389
391
395
397
401
PNB
934
944
958
968
981
POWERGRID
139
141
144
146
150
RELIANCE
961
968
975
982
990
SBIN
2,715
2,731
2,751
2,767
2,787
SSLT
234
238
243
247
252
SUNPHARMA
872
889
907
924
942
TATAMOTORS
515
524
530
539
545
TATAPOWER
88
90
92
93
95
TATASTEEL
455
462
472
479
489
TCS
2,557
2,574
2,593
2,610
2,629
TECHM
2,584
2,602
2,630
2,648
2,675
ULTRACEMCO
2,589
2,607
2,638
2,656
2,687
WIPRO
548
552
557
560
565
ZEEL
363
367
373
377
383
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Daily Technical Report
November 13, 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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