Daily Technical Report
November 26, 2013
Sensex (20605) / Nifty (6115)
Exhibit 1: Nifty Daily Chart
The opening session of the week started on a cheerful note.
The index then maintained its optimism throughout the session
and went on to post sizable gains of two percent. Barring IT, all
other sectors contributed in yesterday's rally. The Capital
Goods, Banking and Realty counters were among the major
gainers and advance to decline ratio was strongly in favor of
the advancing counters. (A=1423 D=1027)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20064 / 5963 and 19049 / 5720 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20578 / 6108 and 20088 / 5974 levels, respectively.
The monthly momentum oscillators are now positively
poised; whereas the weekly momentum oscillators are
contradictory.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, the bulls snapped three consecutive day's losses and
View
Neutral
managed to close convincingly above 6100 mark. As stated in
Support Levels
6035 - 5970
our previous report, the support zone of daily ’89 EMA' proved
Resistance Level
6125 - 6213
out to be a major hurdle for the bears. The broad based rally
across all major sectors elevated the market from the crucial
and strong support zone. Going forward, the possibility of
testing 6213 cannot be ruled out if it sustains above 6124 level
in the coming trading sessions. On the other hand 6035 level
may act as an immediate support for the Nifty.
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Daily Technical Report
November 26, 2013
Bank Nifty Outlook - (11083)
Exhibit 2: Bank Nifty Daily Chart
On Monday, in-line with our benchmark index, the Bank
Nifty too opened with an upside gap of nearly one
percent and traded with positive bias throughout the first
half. The index then took a breather around midsession
and after a decent consolidation, once again broke out
from the intraday range to post a mammoth intraday
gain of four percent. In the process, the Bank Nifty has
now penetrated the 'Downward Sloping Trendline' (please
refer the exhibit) and is now nearing a major resistance
level of 11208. Any closing above this level may attract
strong buying interest among market participants. In this
scenario, the index may advance to immediate upside
levels of 11400 - 11510. On the flip side, 10923 -
10780 are seen as immediate support levels for the
Banking index.
Actionable points:
Source: Falcon
View
Neutral
Support Levels
10923 - 10780
Resistance Levels
11208 - 11400
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Daily Technical Report
November 26, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,220
20,412
20,519
20,712
20,819
NIFTY
6,004
6,060
6,092
6,147
6,179
BANKNIFTY
10,670
10,877
10,987
11,194
11,305
ACC
1,044
1,061
1,073
1,090
1,102
AMBUJACEM
172
176
178
182
184
ASIANPAINT
506
511
515
520
525
AXISBANK
1,075
1,095
1,110
1,130
1,145
BAJAJ-AUTO
1,884
1,912
1,929
1,957
1,975
BANKBARODA
604
619
627
641
649
BHARTIARTL
324
330
336
342
348
BHEL
135
140
143
147
150
BPCL
333
340
346
353
359
CAIRN
327
329
330
333
334
CIPLA
381
384
388
391
395
COALINDIA
267
268
270
271
273
DLF
145
147
148
150
152
DRREDDY
2,392
2,416
2,435
2,459
2,477
GAIL
326
329
332
335
338
GRASIM
2,507
2,533
2,558
2,583
2,608
HCLTECH
1,029
1,041
1,055
1,067
1,082
HDFC
788
803
813
828
837
HDFCBANK
643
651
657
665
670
HEROMOTOCO
1,970
1,998
2,017
2,045
2,064
HINDALCO
115
116
119
120
123
HINDUNILVR
566
573
579
586
591
ICICIBANK
1,015
1,045
1,062
1,092
1,109
IDFC
100
102
103
104
105
INDUSINDBK
404
412
417
425
431
INFY
3,265
3,296
3,337
3,368
3,409
ITC
309
313
315
318
321
JINDALSTEL
245
248
251
255
258
JPASSOCIAT
47
47
48
49
49
KOTAKBANK
711
728
738
756
765
LT
958
980
993
1,015
1,027
LUPIN
838
844
852
858
865
M&M
926
935
942
950
958
MARUTI
1,628
1,654
1,672
1,697
1,715
NMDC
127
129
130
132
134
NTPC
148
149
150
152
153
ONGC
277
283
286
291
295
PNB
514
524
530
539
545
POWERGRID
93
94
94
95
95
RANBAXY
417
421
424
428
431
RELIANCE
838
845
851
858
864
RELINFRA
400
405
409
414
417
SBIN
1,715
1,761
1,786
1,832
1,858
SESAGOA
169
172
175
178
182
SUNPHARMA
572
577
580
584
587
TATAMOTORS
374
380
383
390
393
TATAPOWER
76
77
78
79
80
TATASTEEL
391
395
397
400
402
TCS
1,977
1,995
2,011
2,029
2,045
ULTRACEMCO
1,781
1,835
1,870
1,924
1,960
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Daily Technical Report
November 26, 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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