Daily Technical Report
November 19, 2013
Sensex (20851) / Nifty (6189)
Exhibit 1: Nifty Daily Chart
The opening session of the week began with a decent upside
gap considering cheerful mood across the globe. Weakness in
the dollar led to optimism in equities and as a result, our
market closed with more than two percent gains. Yesterday, all
sectors closed in the positive territory, out of which, the Capital
Goods, Banking and FMCG conglomerates contributed
heavily in the rally. The advance to decline ratio was strongly in
favor of the advancing counters. (A=1449 D=1085)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20016 / 5948 and 19028/ 5715 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20647 / 6126 and 20093 / 5978 levels, respectively.
The monthly momentum oscillators are now positively
Source: Falcon
poised; whereas the weekly momentum oscillators are
contradictory.
Actionable points:
Trading strategy:
The bulls have tasted success as they managed to recover 200
View
Neutral
nifty points in merely two trading sessions. Yesterday, during
Support Levels
6141 - 6110
the initial hour, the index managed to conquer the hourly '89
Resistance Level
6250 - 6305
EMA' and then eventually closed at the highest point of the day.
The Nifty has now tested the 61.8 % Fibonacci retracement
level of the fall from 6343 to 5972. This level is at the 6202
mark. Going forward, considering current optimism and the
positive crossover in daily momentum oscillators we expect the
Nifty to test 6250 - 6305 if it can sustain above the 6202
mark. Failure to sustain above 6202 over the next few sessions
should be considered as the first sign of caution. On the flip
side, 6141- 6110 may provide decent support for the Nifty in
the coming trading sessions.
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Daily Technical Report
November 19, 2013
Bank Nifty Outlook - (11142)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, in-line with our benchmark index, the Bank
Nifty too opened with an upside gap and eventually
closed with nearly three percent gains. On the daily chart,
the momentum oscillators are positive poised, indicating
possibility of a further upside. Hence, going forward, we
expect this up move to continue and the bank nifty may
test
11400
-
11510 levels if it can sustain above
yesterday’s high of
11157. On the other hand,
yesterday’s low of 10962 would now act as an immediate
support level for the index. Any sustainable move below
this level would open up chances of further correction
towards 10660 - 10412 levels
Actionable points:
View
Neutral
Support Levels
10962 - 10660
Resistance Level
11400 - 11510
Source: Falcon
Technical Calls
Date
Stock
Segment
Action
Price Range
CMP
SL
Target
19/11/2013
Bharti Airtel ltd
Cash
Buy
Above 347
345.25
338.50
361
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Daily Technical Report
November 19, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,465
20,658
20,763
20,956
21,062
NIFTY
6,079
6,134
6,165
6,220
6,252
BANKNIFTY
10,893
11,018
11,087
11,212
11,281
ACC
1,031
1,048
1,060
1,077
1,088
AMBUJACEM
172
176
178
181
183
ASIANPAINT
510
518
523
531
536
AXISBANK
1,107
1,123
1,133
1,149
1,159
BAJAJ-AUTO
1,997
2,013
2,037
2,053
2,077
BANKBARODA
598
609
617
628
635
BHARTIARTL
338
342
344
348
351
BHEL
135
137
139
142
144
BPCL
338
345
350
357
361
CAIRN
312
316
320
324
327
CIPLA
398
400
404
406
409
COALINDIA
265
268
273
276
280
DLF
144
147
148
150
152
DRREDDY
2,407
2,437
2,462
2,492
2,517
GAIL
316
318
321
324
326
GRASIM
2,546
2,583
2,621
2,658
2,696
HCLTECH
1,047
1,072
1,093
1,118
1,139
HDFC
789
802
809
822
830
HDFCBANK
642
655
663
676
684
HEROMOTOCO
2,029
2,042
2,056
2,069
2,082
HINDALCO
112
116
117
121
123
HINDUNILVR
574
585
592
603
610
ICICIBANK
1,045
1,059
1,074
1,088
1,102
IDFC
104
106
107
108
109
INDUSINDBK
405
412
418
426
432
INFY
3,375
3,390
3,402
3,417
3,429
ITC
312
319
323
330
334
JINDALSTEL
237
241
244
248
250
JPASSOCIAT
45
46
48
49
50
KOTAKBANK
728
735
740
748
753
LT
940
959
970
989
1,000
LUPIN
850
857
865
872
881
M&M
903
924
936
957
969
MARUTI
1,602
1,616
1,626
1,639
1,649
NMDC
128
130
133
134
137
NTPC
152
154
155
158
159
ONGC
270
275
277
282
284
PNB
512
521
528
537
544
POWERGRID
95
96
96
97
97
RANBAXY
413
421
428
435
442
RELIANCE
848
861
870
883
891
RELINFRA
412
420
424
432
436
SBIN
1,719
1,743
1,757
1,781
1,794
SESAGOA
184
186
190
192
196
SUNPHARMA
591
601
607
617
622
TATAMOTORS
377
385
389
397
401
TATAPOWER
77
78
79
80
81
TATASTEEL
375
381
384
390
394
TCS
2,018
2,031
2,045
2,059
2,073
ULTRACEMCO
1,858
1,896
1,925
1,964
1,992
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Daily Technical Report
November 19, 2013
Research Team Tel: 022 - 30940000
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Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
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Head - Technicals
Sameet Chavan
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Technical Analyst
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