Daily Technical Report
November 26, 2014
Sensex (28338) / Nifty (8463)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a flat opening in our market
considering quiet cues from the other Asian bourses.
However, the Nifty witnessed a fair amount of profit
booking throughout the session, which led the index to close
with a cut of nearly a percent. Barring Oil & Gas and
Healthcare, all other sectors closed in the negative territory.
The FMCG, Realty, Banking and Capital Goods counters
were among the major losers. The advance to decline ratio
was strongly in favor of the declining counters. (A=823
D=2173) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 26310 / 7933 and 22879 / 6880 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27371 / 8290 and 26389 / 7946 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Two day’s strong up move was followed by a weak session
View
Neutral
in our market as the index shed nearly a percent from the
Support Levels
8429 - 8390
previous close. However, this corrective move was quite
Resistance Levels
8500 - 8535
expected for us as we had clearly mentioned about the Nifty
reaching its important resistance zone of 8500 - 8550. We
maintain our view that traders are advised not to trade
aggressively in the market and focus on individual stock
with a proper exit strategy. Going forward, a sustainable
move below yesterday’s low of 8429 may result into an
extension of this correction towards 8390 - 8360 levels. On
the flipside, 8500 - 8535 would act as an important
resistance zone for the Nifty.
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Daily Technical Report
November 26, 2014
Bank Nifty Outlook - (18037)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty’s movement was quite similar to
the benchmark index. After a strong up move of more
than 3% in merely two days, the banking conglomerates
chose to take some money off the table. As a result, the
Bank Nifty trimmed by nearly one and half a percent.
Going forward, if the Bank Nifty manages to sustain
below
17990 then we may expect an immediate
correction towards 17900 - 17800 levels. On the flipside,
18100 - 18250 are seen as immediate resistance levels
for the banking index.
Actionable points:
View
Neutral
Resistance Levels
18100 - 18250
Support Levels
17990 - 17900
Source: Falcon
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Daily Technical Report
November 26, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,042
28,190
28,366
28,514
28,689
NIFTY
8,370
8,417
8,476
8,522
8,582
BANKNIFTY
17,828
17,932
18,097
18,202
18,367
ACC
1,393
1,408
1,431
1,445
1,468
AMBUJACEM
220
224
227
231
234
ASIANPAINT
677
685
690
697
702
AXISBANK
459
465
472
478
486
BAJAJ-AUTO
2,580
2,612
2,646
2,678
2,712
BANKBARODA
985
998
1,020
1,034
1,056
BHARTIARTL
394
399
403
408
413
BHEL
255
260
263
269
272
BPCL
693
701
715
724
738
CAIRN
263
267
270
274
278
CIPLA
599
612
620
633
641
COALINDIA
337
343
346
352
355
DLF
136
139
143
147
151
DRREDDY
3,408
3,490
3,543
3,625
3,678
GAIL
464
471
476
483
489
GRASIM
3,414
3,451
3,496
3,533
3,578
HCLTECH
1,581
1,619
1,658
1,696
1,735
HDFC
1,113
1,130
1,143
1,160
1,173
HDFCBANK
931
942
950
962
970
HEROMOTOCO
2,978
3,011
3,053
3,085
3,128
HINDALCO
156
161
164
168
171
HINDUNILVR
735
750
763
778
790
ICICIBANK
1,698
1,718
1,743
1,762
1,788
IDFC
149
152
157
160
165
INDUSINDBK
690
698
712
720
734
INFY
4,216
4,259
4,290
4,333
4,364
ITC
331
343
361
373
391
JINDALSTEL
140
143
146
150
152
KOTAKBANK
1,124
1,143
1,172
1,190
1,220
LT
1,595
1,616
1,644
1,664
1,692
LUPIN
1,409
1,433
1,454
1,477
1,498
M&M
1,225
1,241
1,253
1,269
1,281
MARUTI
3,213
3,251
3,320
3,357
3,426
NMDC
137
138
142
144
148
NTPC
137
138
141
143
145
ONGC
370
378
383
392
397
PNB
935
950
970
984
1,005
POWERGRID
134
136
139
141
144
RELIANCE
965
979
987
1,001
1,009
SBIN
296
300
305
309
314
SSLT
226
231
234
239
243
SUNPHARMA
826
833
839
846
852
TATAMOTORS
505
514
521
530
537
TATAPOWER
87
88
90
92
94
TATASTEEL
449
457
466
474
484
TCS
2,580
2,608
2,644
2,672
2,707
TECHM
2,557
2,589
2,639
2,671
2,721
ULTRACEMCO
2,409
2,438
2,481
2,510
2,553
WIPRO
572
577
582
587
592
ZEEL
377
385
394
402
411
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Daily Technical Report
November 26, 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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