Daily Technical Report
November 28, 2014
Sensex (28439) / Nifty (8494)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a subdued opening on the back of
quiet global cues. Baring last hour of the trade, the Nifty
remained within a narrow trading range of merely
35
points. As mentioned, due to last hour up move, the Index
managed to close with nominal gains. On the sectoral
front, the IT, Healthcare and Power sectors ended in the
positive territory; whereas the Consumer Durables, Capital
Goods and Realty closed marginally in the negative
territory. The advance to decline ratio was in favor of the
advancing counters. (A=1579 D=1364) (Source-
www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 26310 / 7933 and 22879 / 6880 levels, respectively.
Source: Falcon
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27371 / 8290 and 26389 / 7946 levels, respectively.
Actionable points:
View
Neutral
Trading strategy:
Support Level
8429
Despite being a derivative expiry session, we witnessed a
Resistance Levels
8535 - 8550
lethargic and range bound movement for the most part of
the session. Due to modest up move in the late trade, the
benchmark index managed to close almost at the highest
point of the day. However, we maintain our view that the
Nifty has an important resistance zone around 8535 -
8550. It’s advisable not to trade aggressively in the market
and focus on individual stock with a proper exit strategy. On
the flipside, Tuesday’s low of
8429 would act as an
important support level for the index.
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Daily Technical Report
November 28, 2014
Bank Nifty Outlook - (18023)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too had a quiet session until the
concluding hour of the session. The index managed to
trade with a positive bias in the latter part, leading to a
close tad above the 18000 mark. We expect the index to
maintain its trading range of 18250 to 17900 in coming
trading session. It's advisable to wait for further
developments on the chart to confirm a near term
direction.
Actionable points:
View
Neutral
Resistance Levels
18100 - 18250
Support Levels
17900 - 17800
Source: Falcon
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Daily Technical Report
November 28, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,224
28,332
28,415
28,522
28,606
NIFTY
8,435
8,465
8,486
8,515
8,536
BANKNIFTY
17,836
17,929
17,992
18,085
18,148
ACC
1,409
1,423
1,441
1,455
1,473
AMBUJACEM
221
223
227
229
233
ASIANPAINT
694
700
709
715
724
AXISBANK
458
464
468
474
478
BAJAJ-AUTO
2,567
2,608
2,631
2,672
2,695
BANKBARODA
1,002
1,009
1,019
1,025
1,035
BHARTIARTL
377
381
388
392
398
BHEL
261
273
280
292
299
BPCL
699
710
721
732
743
CAIRN
269
271
273
274
276
CIPLA
620
629
635
644
651
COALINDIA
344
346
349
352
354
DLF
143
146
149
152
156
DRREDDY
3,487
3,549
3,594
3,656
3,701
GAIL
481
485
491
495
500
GRASIM
3,441
3,477
3,536
3,572
3,631
HCLTECH
1,602
1,633
1,654
1,685
1,706
HDFC
1,131
1,142
1,153
1,164
1,175
HDFCBANK
938
943
948
954
959
HEROMOTOCO
3,046
3,075
3,105
3,135
3,165
HINDALCO
165
169
173
177
180
HINDUNILVR
757
774
783
800
809
ICICIBANK
1,691
1,707
1,721
1,737
1,751
IDFC
152
153
154
156
157
INDUSINDBK
706
713
719
727
733
INFY
4,287
4,326
4,351
4,391
4,416
ITC
352
356
360
364
368
JINDALSTEL
136
139
142
145
148
KOTAKBANK
1,136
1,147
1,157
1,168
1,178
LT
1,594
1,606
1,624
1,636
1,654
LUPIN
1,420
1,434
1,445
1,460
1,471
M&M
1,264
1,279
1,289
1,304
1,314
MARUTI
3,227
3,245
3,275
3,294
3,324
NMDC
138
139
141
141
143
NTPC
140
140
142
142
144
ONGC
376
379
383
387
391
PNB
944
971
988
1,015
1,032
POWERGRID
138
139
141
142
144
RELIANCE
978
983
988
993
998
SBIN
301
304
306
308
311
SSLT
234
236
239
242
245
SUNPHARMA
833
837
845
849
857
TATAMOTORS
507
513
518
525
529
TATAPOWER
89
91
92
93
94
TATASTEEL
453
457
463
466
473
TCS
2,606
2,630
2,649
2,672
2,692
TECHM
2,609
2,628
2,644
2,663
2,679
ULTRACEMCO
2,442
2,459
2,478
2,495
2,514
WIPRO
576
579
582
585
588
ZEEL
360
366
372
378
384
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Daily Technical Report
November 28, 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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