Daily Technical Report
November 27, 2014
Sensex (28386) / Nifty (8476)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened tad lower amid mixed global
cues. The index then remained slightly under pressure
throughout the first half; but, a modest recovery towards the
latter part led to a closing with very minor gains. The Realty
sector soared during the session along with the FMCG,
Metal and Power sector; whereas the Banking, Healthcare
and IT closed marginally in the negative territory. The
advance to decline ratio was in favor of the advancing
counters. (A=1661 D=1239) (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:
Yesterday’s session can be termed as a ‘Range Bound’
View
Neutral
session as the index managed to oscillate within the narrow
Support Levels
8429 - 8390
range of merely 60 points. The market had a quiet session
Resistance Levels
8500 - 8535
one day ahead of the November month derivative expiry.
Since, there is no major change in the chart structure; we
maintain our view that the Nifty has an important resistance
zone around 8500 - 8550. It’s advisable not to trade
aggressively in the market and focus on individual stock
with a proper exit strategy. Going forward, a sustainable
move below Tuesday’s low of 8429 may result into an
extension of the correction towards 8390 - 8360 levels.
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Daily Technical Report
November 27, 2014
Bank Nifty Outlook - (17976)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too had quiet session in-line
with our benchmark index. However, unlike the Nifty, the
banking index managed to close slightly inside the
negative territory. Since, the overall chart structure
remains intact; we maintain our view that if the Bank Nifty
manages to sustain below 17900 then we may expect an
immediate correction towards 17800 - 17700 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
17900 - 17800
Source: Falcon
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Daily Technical Report
November 27, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,164
28,275
28,373
28,484
28,581
NIFTY
8,410
8,443
8,472
8,504
8,533
BANKNIFTY
17,761
17,868
17,998
18,106
18,236
ACC
1,394
1,416
1,438
1,460
1,482
AMBUJACEM
223
226
228
231
233
ASIANPAINT
685
695
702
712
720
AXISBANK
460
465
469
475
479
BAJAJ-AUTO
2,548
2,581
2,603
2,636
2,658
BANKBARODA
990
1,001
1,012
1,023
1,034
BHARTIARTL
384
389
396
401
408
BHEL
259
265
269
275
279
BPCL
696
702
711
717
726
CAIRN
263
268
271
276
280
CIPLA
616
623
630
637
644
COALINDIA
345
347
349
352
354
DLF
129
141
148
159
166
DRREDDY
3,475
3,525
3,557
3,607
3,639
GAIL
472
481
488
497
503
GRASIM
3,424
3,495
3,535
3,606
3,646
HCLTECH
1,598
1,616
1,633
1,651
1,668
HDFC
1,113
1,136
1,149
1,172
1,186
HDFCBANK
922
936
948
963
975
HEROMOTOCO
2,977
3,038
3,074
3,135
3,171
HINDALCO
159
164
167
172
175
HINDUNILVR
759
764
768
774
777
ICICIBANK
1,689
1,700
1,717
1,728
1,745
IDFC
151
152
154
155
157
INDUSINDBK
695
706
715
726
735
INFY
4,250
4,275
4,297
4,322
4,343
ITC
354
359
363
367
371
JINDALSTEL
139
141
144
147
150
KOTAKBANK
1,135
1,148
1,160
1,173
1,185
LT
1,611
1,621
1,634
1,644
1,657
LUPIN
1,417
1,429
1,448
1,459
1,478
M&M
1,251
1,262
1,270
1,282
1,289
MARUTI
3,222
3,253
3,280
3,311
3,338
NMDC
138
139
141
142
143
NTPC
139
140
141
143
144
ONGC
378
382
386
390
395
PNB
944
956
966
979
988
POWERGRID
137
138
139
140
142
RELIANCE
977
982
988
993
998
SBIN
301
304
306
309
311
SSLT
232
237
240
244
247
SUNPHARMA
829
834
840
845
850
TATAMOTORS
510
515
520
525
530
TATAPOWER
88
90
91
92
93
TATASTEEL
457
462
465
470
474
TCS
2,592
2,609
2,633
2,651
2,674
TECHM
2,581
2,614
2,634
2,667
2,687
ULTRACEMCO
2,415
2,446
2,483
2,513
2,550
WIPRO
569
574
579
585
590
ZEEL
365
370
378
384
392
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Daily Technical Report
November 27, 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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