Daily Technical Report
November 19, 2014
Sensex (28163) / Nifty (8426)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened slightly higher amid mixed
global cues. Subsequently, the index traded within a narrow
range throughout the session and eventually closed with
negligible losses. On the sectoral front, the Capital Goods,
Metal, Power and Auto sectors were the major gainers;
whereas the IT, Consumer Durables and Oil & Gas
counters remained slightly under pressure. The advance to
decline ratio was in favor of the advancing counters.
(A=1742 D=1370) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 26310 / 7874 and 22879 / 6843 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 27371 / 8202 and 26389 / 7890 levels, respectively.
Actionable points:
Trading strategy:
Our markets continued its lethargic movement after
View
Neutral
witnessing an interesting session on Monday. However, as
Support Levels
8320 - 8280
expected, the individual stocks did show their
Resistance Levels
8450 - 8500
outperformance throughout the session. Since, there is no
major change in the chart structure; we maintain our
positive stance on the market and we continue to expect the
Nifty to test the near term targets of 8500 - 8550, which is
the 127% ‘Price extension’ zone of the previous rally from
the recent low of 7723.85. It’s advisable to stay with the
flow and avoid initiating short positions. On the flipside,
8350 - 8290 are likely to be seen as strong supports for the
bulls.
Meanwhile, traders can continue with their stock centric
approach.
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Daily Technical Report
November 19, 2014
Bank Nifty Outlook - (17703)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, unlike the benchmark index, we witnessed
some action in the Bank Nifty, which was mainly
contributed by the PSU banking counters. As a result, the
banking index managed to close with 0.35% gains.
During the session, the Bank Nifty precisely met with the
mentioned upside level of 17750. Looking at the overall
chart structure and a strong momentum in the PSU
banking space, the possibility of testing 17850 - 17900
levels cannot be ruled out. On the flipside, 17600 -
17480 levels would now be seen as immediate supports
for the index.
Actionable points:
View
Neutral
Resistance Levels
17850 - 17900
Support Levels
17600 - 17480
Source: Falcon
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Daily Technical Report
November 19, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,026
28,095
28,189
28,257
28,352
NIFTY
8,382
8,404
8,429
8,451
8,476
BANKNIFTY
17,536
17,619
17,685
17,768
17,834
ACC
1,470
1,479
1,494
1,502
1,517
AMBUJACEM
223
225
227
229
232
ASIANPAINT
675
688
696
709
716
AXISBANK
466
470
475
479
484
BAJAJ-AUTO
2,612
2,628
2,651
2,667
2,690
BANKBARODA
1,037
1,047
1,057
1,067
1,078
BHARTIARTL
385
392
398
406
412
BHEL
248
251
253
256
259
BPCL
710
715
723
728
737
CAIRN
263
266
268
271
273
CIPLA
599
603
611
615
622
COALINDIA
345
349
354
358
363
DLF
135
137
139
140
142
DRREDDY
3,397
3,415
3,441
3,459
3,485
GAIL
475
483
492
500
509
GRASIM
3,519
3,558
3,584
3,623
3,650
HCLTECH
1,581
1,591
1,608
1,618
1,635
HDFC
1,081
1,093
1,114
1,126
1,147
HDFCBANK
903
918
926
941
949
HEROMOTOCO
2,979
2,998
3,024
3,043
3,068
HINDALCO
151
153
157
159
163
HINDUNILVR
745
748
754
757
763
ICICIBANK
1,664
1,673
1,680
1,689
1,696
IDFC
154
158
161
165
167
INDUSINDBK
715
719
724
727
732
INFY
4,138
4,160
4,194
4,216
4,250
ITC
366
368
370
372
374
JINDALSTEL
150
153
156
160
163
KOTAKBANK
1,064
1,074
1,094
1,105
1,124
LT
1,603
1,624
1,637
1,658
1,671
LUPIN
1,422
1,435
1,452
1,465
1,482
M&M
1,242
1,253
1,262
1,274
1,283
MARUTI
3,303
3,334
3,355
3,386
3,408
NMDC
149
151
152
153
155
NTPC
144
146
147
148
150
ONGC
385
388
393
396
401
PNB
957
970
983
996
1,009
POWERGRID
144
146
148
150
152
RELIANCE
978
983
991
996
1,003
SBIN
2,895
2,920
2,950
2,975
3,005
SSLT
232
239
244
252
256
SUNPHARMA
844
856
876
888
908
TATAMOTORS
534
538
544
548
554
TATAPOWER
88
88
89
90
90
TATASTEEL
472
479
484
491
497
TCS
2,551
2,568
2,597
2,615
2,644
TECHM
2,552
2,574
2,595
2,617
2,637
ULTRACEMCO
2,484
2,507
2,544
2,568
2,605
WIPRO
560
563
566
569
571
ZEEL
373
378
382
388
392
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Daily Technical Report
November 19, 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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