Daily Technical Report
November 27, 2013
Sensex (20425) / Nifty (6059)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets opened marginally lower on the back
of subdued global clues. The index then remained range
bound during the first half but a correction during later half led
to a close with nearly a percent loss. The Banking, Oil & Gas
and FMCG counter influenced the weakness in our market;
whereas the Auto, Power and Capital Goods ended with minor
gains. The advance to decline ratio was strongly in favor of the
declining
counters.
(A=1034
D=1481)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20060 / 5965 and 19045 / 5719 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20561 / 6104 and 20073 / 5969 levels, respectively.
The monthly momentum oscillators are now positively
poised; whereas the weekly momentum oscillators are
contradictory.
Source: Falcon
Actionable points:
Trading strategy:
Monday's strong up move was followed by a flat opening in
View
Neutral
our market. The opening level was exactly at the hourly '89
Support Levels
6035 - 5970
EMA', which acted as a stiff resistance for the Nifty. As a result,
Resistance Level
6124 - 6213
the aggravated selling pressure during the second half pulled
the index to close at the lowest point of the day. Yesterday’s
market movement was well within the trading range for
Monday and thus can be described as an “Inside Day”
Candlestick formation. Going forward, Monday’s opening level
at 6035 would act as a key support level for the index. A fall
below this level may lead to a further correction towards 5970
- 5940 levels. On the flipside, Monday's high of 6124 remains
to be an immediate resistance level. Any sustainable close
above 6124 would open up bullish probabilities and may push
the index towards 6180 - 6213 levels.
www.angelbroking.com
1
Daily Technical Report
November 27, 2013
Bank Nifty Outlook - (10909)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, in-line with our benchmark index, the Bank
Nifty too opened on a muted note. The index then slipped
substantially higher from the day's high to close with
nearly one and half percent losses. At this juncture,
considering the daily chart, yesterday's correction can be
construed as a pull back towards the 'Downward Sloping
Trendline' as mentioned in our previous report. This
analysis would remain valid so long as the Bank Nifty
remains above the 10750 mark. In the coming trading
session, if Bank Nifty manages to sustain above 11020,
then we may expect it to re-test 11133 - 11208 levels. On
the other hand, a breach of 10750 would mean that the
downward probabilities of 10630 - 10412 have opened
up and long positions should be squared off.
Actionable points:
View
Neutral
Source: Falcon
Support Levels
10780 - 10630
Resistance Levels
11133 - 11208
Technical Calls
Date
Stock
Segment
Action
Price Range
CMP
SL
Target
27/11/2013
Hindalco ltd.
Cash
Buy
Above 122
118.45
117.50
129
www.angelbroking.com
2
Daily Technical Report
November 27, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,260
20,342
20,473
20,556
20,687
NIFTY
6,008
6,034
6,073
6,099
6,138
BANKNIFTY
10,739
10,824
10,979
11,064
11,219
ACC
1,043
1,056
1,075
1,088
1,107
AMBUJACEM
175
177
179
180
182
ASIANPAINT
498
503
509
513
520
AXISBANK
1,099
1,108
1,118
1,126
1,136
BAJAJ-AUTO
1,905
1,922
1,935
1,952
1,966
BANKBARODA
585
596
617
629
649
BHARTIARTL
315
321
331
337
346
BHEL
141
145
148
152
155
BPCL
306
315
331
341
357
CAIRN
315
320
327
331
338
CIPLA
380
383
387
390
394
COALINDIA
255
259
266
270
276
DLF
145
147
149
152
154
DRREDDY
2,362
2,387
2,418
2,443
2,474
GAIL
320
324
331
336
342
GRASIM
2,505
2,524
2,549
2,568
2,593
HCLTECH
1,033
1,046
1,057
1,071
1,082
HDFC
794
801
809
816
824
HDFCBANK
642
648
654
659
665
HEROMOTOCO
1,987
2,016
2,035
2,064
2,083
HINDALCO
115
117
119
121
124
HINDUNILVR
570
579
587
597
604
ICICIBANK
1,010
1,027
1,056
1,073
1,101
IDFC
99
100
102
104
105
INDUSINDBK
402
407
416
422
431
INFY
3,263
3,290
3,319
3,346
3,376
ITC
305
308
312
315
319
JINDALSTEL
247
248
251
253
255
JPASSOCIAT
46
47
48
48
49
KOTAKBANK
729
737
744
752
758
LT
987
996
1,006
1,015
1,025
LUPIN
840
853
861
873
882
M&M
931
938
945
953
960
MARUTI
1,635
1,649
1,669
1,683
1,702
NMDC
121
124
128
131
135
NTPC
146
147
149
150
152
ONGC
282
285
287
289
291
PNB
513
520
531
537
548
POWERGRID
93
94
94
95
95
RANBAXY
413
417
423
427
433
RELIANCE
826
834
845
853
864
RELINFRA
398
402
409
413
420
SBIN
1,757
1,771
1,795
1,810
1,834
SESAGOA
172
174
176
178
181
SUNPHARMA
555
564
578
586
600
TATAMOTORS
375
382
387
395
399
TATAPOWER
77
77
78
78
79
TATASTEEL
385
388
393
397
402
TCS
1,970
1,982
1,999
2,011
2,029
ULTRACEMCO
1,811
1,832
1,864
1,885
1,916
www.angelbroking.com
3
Daily Technical Report
November 27, 2013
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4