Daily Technical Report
November 14, 2013
Sensex (20194) / Nifty (5990)
Exhibit 1: Nifty Daily Chart
Yesterday, our Benchmark indices opened with a downward
gap in line with the global cues. Subsequently, every attempt
to recover from the lows failed and indices closed on the
negative note. On the sectoral front, the Auto, Consumer
Durables and Metal counters somehow managed to close in
the green; whereas the Realty, FMCG, and IT pack imposed
selling pressure in the market. The advance to decline ratio
was strongly in favor of the declining counters. (A=1048
D=1395)(Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
19968 / 5940 and 18982 / 5703 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20624 / 6125 and 19994 / 5949 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
Neutral
In line with the previous six sessions, the tug-of-war continued
Support Levels
5940 - 5877
during yesterday's session as well. In the process, the Nifty has
Resistance Level
6043 - 6109
now closed tad below the psychological level of 6000 mark.
However, unlike other six sessions, yesterday's price movement
led to a formation of 'Narrow Range' candle. This indicates that
the market participants are now uncertain as the index is
hovering around the strong support zone (5940) of '89 day
EMA'. Hence, any reversal sign in the hourly chart may lead to
an immediate rally towards 6043 - 6109 levels. However, any
closing below the '89 day EMA' (5940) will lead to a significant
sell off in the market.
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Daily Technical Report
November 14, 2013
Bank Nifty Outlook - (10523)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened slightly lower in-line
with our benchmark index. The movement during the
session was almost a replica of previous few sessions. As
a result, the daily chart of Bank Nifty too depicts a
‘Narrow Range’ body formation. Hence, going forward, a
sustainable move beyond yesterday's high of 10653 may
apply brakes on ongoing pessimism. In this scenario, we
may expect an immediate up move towards 10860 levels.
On the flipside, 10412 would act as important support
level
in
the
coming
trading
sessions.
Actionable points:
View
Neutral
Support Levels
10412 - 10274
Resistance Level
10650 - 10860
Source: Falcon
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Daily Technical Report
November 14, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,037
20,115
20,241
20,319
20,445
NIFTY
5,932
5,961
6,001
6,030
6,071
BANKNIFTY
10,289
10,406
10,529
10,646
10,769
ACC
1,008
1,025
1,037
1,053
1,065
AMBUJACEM
169
172
175
178
180
ASIANPAINT
511
517
524
530
538
AXISBANK
989
1,010
1,031
1,052
1,074
BAJAJ-AUTO
1,969
1,995
2,029
2,055
2,088
BANKBARODA
547
566
585
603
622
BHARTIARTL
322
327
334
339
345
BHEL
129
131
133
135
137
BPCL
321
327
335
341
349
CAIRN
314
316
319
321
324
CIPLA
404
408
414
418
423
COALINDIA
277
281
285
289
292
DLF
136
139
142
145
148
DRREDDY
2,417
2,443
2,467
2,493
2,517
GAIL
316
319
326
329
335
GRASIM
2,542
2,572
2,617
2,647
2,692
HCLTECH
1,077
1,087
1,099
1,109
1,121
HDFC
781
786
794
799
807
HDFCBANK
617
626
637
645
656
HEROMOTOCO
1,961
1,981
2,018
2,038
2,075
HINDALCO
107
110
113
116
118
HINDUNILVR
563
573
582
592
600
ICICIBANK
984
999
1,011
1,027
1,038
IDFC
98
100
101
103
104
INDUSINDBK
387
395
406
414
424
INFY
3,293
3,313
3,336
3,355
3,378
ITC
309
312
316
318
322
JINDALSTEL
230
233
236
239
241
JPASSOCIAT
41
42
44
45
47
KOTAKBANK
704
711
717
725
731
LT
900
910
922
932
943
LUPIN
859
867
876
884
894
M&M
865
880
890
905
915
MARUTI
1,561
1,570
1,582
1,591
1,603
NMDC
128
130
131
133
135
NTPC
145
147
149
152
154
ONGC
261
265
267
271
274
PNB
484
495
507
518
530
POWERGRID
94
95
96
97
97
RANBAXY
397
406
415
423
432
RELIANCE
830
837
849
857
869
RELINFRA
391
398
410
417
428
SBIN
1,611
1,654
1,696
1,739
1,780
SESAGOA
179
183
188
192
196
SUNPHARMA
594
601
612
619
631
TATAMOTORS
358
362
366
370
373
TATAPOWER
76
77
78
79
80
TATASTEEL
344
351
357
364
371
TCS
2,004
2,026
2,066
2,089
2,129
ULTRACEMCO
1,822
1,844
1,871
1,893
1,920
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Daily Technical Report
November 14, 2013
Research Team Tel: 022 - 30940000
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
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