Daily Technical Report
November 21, 2014
Sensex (28068) / Nifty (8402)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened slightly higher as
indicated by the SGX Nifty. However, once again, the index
failed to sustain above the 8400 mark and as a result, the
Nifty corrected a bit during the first half. A decent recovery
towards the latter part of the session led to a closing in the
positive territory. On the sectoral front, the IT, Healthcare,
FMCG and Banking were among the major gainers;
whereas the Consumer Durables, Realty, Capital Goods
and Metal remained under pressure throughout the session.
The advance to decline ratio was in favor of the declining
counters. (A=1336 D=1682) (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
at 27371 / 8202 and 26389 / 7890 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Wednesday's weak session was followed by a positive
View
Neutral
opening in the market. However, the bulls could not hold
Support Levels
8350 - 8290
the Nifty above 8400 for too long. Similar to the previous
Resistance Levels
8410 - 8450
session, we witnessed a modest profit booking across the
broader market. However, as mentioned in the earlier
report, the 8350 mark played a sheet anchor role as the
index made a strong recovery after posting a low of 8353.
Going forward, the 8350 would remain to be a key support
level for the Nifty. A sustainable move below this level may
drag the index lower to test the important support of 8290.
On the flipside, if the index manages to give an hourly
closing above 8410 then we may see a continuation of the
uptrend towards 8450 or above.
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Daily Technical Report
November 21, 2014
Bank Nifty Outlook - (17645)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened slightly higher and
then witnessed a small intraday correction. However, the
overall movement can be termed as range bound. Going
forward, purely with an intraday perspective, if the index
manages to stay below the 17550 mark then we may see
further correction towards 17400. On the flipside, 17690
- 17750 would now act as immediate resistance levels for
the banking index.
Actionable points:
View
Neutral
Resistance Levels
17690 - 17750
Support Levels
17550 - 17400
Source: Falcon
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Daily Technical Report
November 21, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,819
27,926
28,022
28,129
28,225
NIFTY
8,331
8,366
8,389
8,424
8,446
BANKNIFTY
17,489
17,567
17,625
17,702
17,760
ACC
1,422
1,434
1,450
1,462
1,478
AMBUJACEM
215
218
221
224
227
ASIANPAINT
675
683
688
696
702
AXISBANK
458
462
467
471
476
BAJAJ-AUTO
2,619
2,637
2,661
2,679
2,703
BANKBARODA
996
1,011
1,027
1,042
1,059
BHARTIARTL
387
392
399
404
410
BHEL
236
241
245
250
255
BPCL
707
714
721
728
735
CAIRN
256
261
264
269
272
CIPLA
584
601
613
630
641
COALINDIA
339
343
348
352
357
DLF
133
136
139
141
144
DRREDDY
3,481
3,505
3,537
3,561
3,593
GAIL
465
470
475
480
486
GRASIM
3,460
3,495
3,545
3,579
3,629
HCLTECH
1,611
1,630
1,641
1,660
1,671
HDFC
1,094
1,108
1,118
1,132
1,142
HDFCBANK
904
911
919
927
935
HEROMOTOCO
2,927
2,961
2,985
3,020
3,044
HINDALCO
152
154
156
158
159
HINDUNILVR
751
756
760
766
770
ICICIBANK
1,666
1,677
1,685
1,696
1,705
IDFC
154
156
157
159
161
INDUSINDBK
699
703
709
713
718
INFY
4,165
4,195
4,214
4,244
4,263
ITC
367
368
370
372
373
JINDALSTEL
139
143
148
151
156
KOTAKBANK
1,063
1,110
1,137
1,183
1,210
LT
1,610
1,628
1,647
1,665
1,684
LUPIN
1,443
1,456
1,464
1,477
1,485
M&M
1,205
1,216
1,235
1,246
1,264
MARUTI
3,285
3,310
3,337
3,363
3,390
NMDC
140
143
146
149
152
NTPC
140
141
143
144
146
ONGC
378
382
386
390
394
PNB
934
943
955
964
976
POWERGRID
143
145
146
147
149
RELIANCE
965
973
978
986
992
SBIN
288
293
296
300
303
SSLT
228
231
236
240
245
SUNPHARMA
833
842
851
860
870
TATAMOTORS
513
519
526
532
540
TATAPOWER
86
88
89
90
91
TATASTEEL
456
462
467
472
478
TCS
2,542
2,574
2,592
2,624
2,642
TECHM
2,585
2,646
2,682
2,742
2,778
ULTRACEMCO
2,420
2,443
2,481
2,504
2,542
WIPRO
558
565
570
577
582
ZEEL
362
369
379
386
397
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Daily Technical Report
November 21, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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