Daily Technical Report
November 14, 2014
Sensex (27941) / Nifty (8358)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets opened marginally higher as
indicated by the pre-opening session. However, once again
Nifty failed to sustain above the 8400 mark. Due to the
small intraday correction, the index managed to close
marginally in the negative territory. Most of the sectors
remained under pressure amongst which the Oil & Gas,
Banking and Realty were the major draggers; whereas the
IT, Healthcare and Consumer Durables counters traded
with a positive bias. The advance to decline ratio was
strongly in favor of the declining counters. (A=1294
D=1762) (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's been a series of narrow range sessions in our market
View
Neutral
since last couple of weeks. Similar to Wednesday's session,
Support Levels
8320 - 8280
yesterday too Nifty managed to surpass 8400 mark; but
Resistance Levels
8420 - 8450
failed to sustain around it. In fact, a modest profit booking
in the second half dragged the index lower to test 8320.
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. It’s
advisable to concentrate on the stock specific movements.
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Daily Technical Report
November 14, 2014
Bank Nifty Outlook - (17453)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened marginally
higher, but faced a strong resistance around the 17600
mark, which is the 127% ‘Price-Extension’ of the previous
up move. In the process, the banking index shed more
than half a percent to close convincingly above the 17400
mark. Going forward, any sustainable move beyond
17600 may extend this rally towards 17750 - 17850
levels. On the flipside, if the index manages sustain below
17400 than we may see further profit booking towards
17300 - 17200 levels.
Actionable points:
View
Neutral
Resistance Levels
17600 - 17750
Support Level
17400 - 17300
Source: Falcon
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Daily Technical Report
November 14, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,678
27,809
27,954
28,085
28,230
NIFTY
8,274
8,316
8,362
8,404
8,450
BANKNIFTY
17,237
17,345
17,498
17,606
17,759
ACC
1,484
1,493
1,506
1,515
1,528
AMBUJACEM
219
223
227
231
235
ASIANPAINT
634
640
645
651
656
AXISBANK
461
467
477
483
492
BAJAJ-AUTO
2,582
2,596
2,609
2,623
2,637
BANKBARODA
980
990
1,005
1,015
1,030
BHARTIARTL
370
381
386
397
402
BHEL
241
244
249
252
257
BPCL
707
719
737
748
766
CAIRN
255
259
265
269
276
CIPLA
609
616
626
633
642
COALINDIA
343
345
347
349
351
DLF
134
137
139
142
145
DRREDDY
3,308
3,388
3,445
3,526
3,583
GAIL
466
471
480
486
495
GRASIM
3,525
3,569
3,609
3,653
3,693
HCLTECH
1,566
1,603
1,625
1,662
1,684
HDFC
1,107
1,118
1,132
1,143
1,157
HDFCBANK
897
907
913
923
929
HEROMOTOCO
2,871
2,899
2,941
2,969
3,011
HINDALCO
147
150
152
154
157
HINDUNILVR
754
759
766
772
779
ICICIBANK
1,669
1,681
1,698
1,710
1,728
IDFC
149
152
155
157
160
INDUSINDBK
711
717
727
732
742
INFY
4,075
4,127
4,164
4,216
4,253
ITC
364
366
369
371
373
JINDALSTEL
149
150
154
155
158
KOTAKBANK
1,094
1,103
1,116
1,125
1,138
LT
1,592
1,604
1,622
1,634
1,651
LUPIN
1,407
1,423
1,441
1,456
1,474
M&M
1,230
1,242
1,253
1,266
1,276
MARUTI
3,274
3,302
3,349
3,376
3,423
NMDC
148
149
152
154
157
NTPC
141
142
143
144
144
ONGC
374
380
388
394
403
PNB
911
923
942
954
974
POWERGRID
142
143
144
146
147
RELIANCE
954
962
971
978
987
SBIN
2,658
2,689
2,726
2,756
2,793
SSLT
228
232
238
242
249
SUNPHARMA
887
898
911
922
935
TATAMOTORS
516
521
529
534
541
TATAPOWER
86
87
90
91
93
TATASTEEL
456
464
470
477
483
TCS
2,546
2,567
2,586
2,607
2,626
TECHM
2,572
2,609
2,634
2,671
2,696
ULTRACEMCO
2,524
2,551
2,596
2,623
2,668
WIPRO
549
554
559
564
569
ZEEL
364
368
372
377
380
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Daily Technical Report
November 14, 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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