Technical Report 9th November 2011
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Transcript of Technical Report 9th November 2011
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Technical Research | November 09, 2011
Markets opened quietly and corrected marginally during the
first half of the session. However, buying attracted at lower
levels during the second half which pushed indices higher to
close slightly below 17600 / 5300 mark. On the sectoral
front, the Realty and Health Care counters were among the
major losers Consumer Durables sector ended on a gaining
side. The advance decline ratio was in favor of advancing
counters (A= 1434 D= 1399). (Source –www.bseindia.com)
Formation
• On the Weekly chart, the “Downward Sloping Trend
Line” is now placed around the 18100 / 5450 level.
• The Daily “200 SMA” is placed at 18000 / 5400 level.
• The “20 EMA” on the Daily and Weekly chart is placed
at 17165 / 5165 and 17300 / 5200, respectively.
• The positive crossover in the Weekly ADX (9) indicator is
still intact.
(Note: All technical evidences mentioned in earlier report
are almost unchanged; therefore, we continue to mention
them)
Trading strategy:
After flat opening indices corrected towards the intraday
support level of 17450 / 5250 and bounced from these
levels during second half of the session. As mentioned in
our earlier reports, the support remains to be at 17300 –
17165 / 5200 – 5160 levels. On the upside, yesterday’s
high of 17632 / 5304 level would act as an immediate
resistance. If indices manage to sustain above this level then
they are likely to move towards 17700 – 17820 / 5326 –
5365 levels.
Daily Technical Report
Sensex 17570 / NIFTY 5289
Exhibit 1: Ni fty Daily Chart
Source: Falcon
Actionable points:
View NeutralResistance Levels 5326 – 5365Support Levels 5200 – 5160
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Bank nifty opened on a flat note and drifted lower during
initial part of the session. However, during the second half
buying emerged near day’s low, which led Bank Nifty to
close near the initial opening level. We are witnessing a
“Doji” candle formation, which is a sign of indecisiveness at
current levels. Only a sustainable move above 9914 level
will lead the index to test the next resistance level of 10080.
On the downside, 9733 – 9647 levels may act as support
levels for the day.
Actionable poin ts:
View Neutral Resistance Levels 9914 – 10080Support Levels 9733 – 9647
Bank N ifty Outlook - (9853)
Exhibit 2: Bank Ni fty Daily Chart
Source: Falcon
Stock Recommendations: Stock – Jet Airways (NSE Cash)
Action – Buy
Last close - ` 267.45
Buying Range - ` 267 - ` 262
Stop Loss - ` 255.45
Target - ` 288
Justification – On the Daly chart, the stock has given a
downward sloping trend line breakout at ` 264 with
significant rise in volumes. Moreover, we are observing a
positive crossover in Weekly “RSI – Smoothened” oscillator.
Combining above technical evidences, it seems that the
stock has a potential to rally in coming days. Hence, we
advise traders to buy this stock from current level to a
decline up to ` 262 for a target of ` 288 in coming 2 – 3
Weeks.
Exhibit 3:Jet Airways (NSE Cash) Daily chart
Source: Falcon
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Positive Bia :
Stock Name 5 Day EMA 20 Day EMA Expected Target Remark
Titan Inds 218.2 217 230 View will change below 216
Apollo Tyre 57.4 56.4 63.50 View will change below 54.7Jain Irrigation 118.3 127.1 129.50 View will change below 107
Negative Bias:
Stock Name 5 Day EMA 20 Day EMA Expected Target Remark
Yesbank 310.3 297 298 View will change above 318.5
Century Textile 328.7 316 317 View will change above 335
Ranbaxy 504.6 505.8 485 View will change above 520
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SCRIPS S2 S1 PIVOT R1 R2
SENSEX 17,375 17,472 17,552 17,649 17,729
NIFTY 5,230 5,259 5,282 5,312 5,334
BANKNIFTY 9,665 9,759 9,826 9,920 9,988
ACC 1,202 1,210 1,220 1,228 1,238
AMBUJACEM 158 160 162 165 167
AXISBANK 1,117 1,128 1,141 1,153 1,166
BAJAJ-AUTO 1,695 1,709 1,732 1,746 1,768
BHARTIARTL 391 394 398 401 405
BHEL 332 333 336 337 340
BPCL 585 594 610 619 635
CAIRN 301 311 317 327 333
CIPLA 286 289 291 294 296
DLF 232 238 244 249 255
DRREDDY 1,588 1,605 1,619 1,636 1,650
GAIL 416 419 423 426 430
HCLTECH 420 424 431 436 443
HDFC 666 673 682 688 697
HDFCBANK 475 479 483 488 492
HEROMOTOCO 2,087 2,103 2,127 2,144 2,168
HINDALCO 136 138 140 142 144
HINDUNILVR 373 377 382 386 390
ICICIBANK 863 872 880 889 896
IDFC 122 124 127 129 132
INFY 2,770 2,806 2,827 2,863 2,884
ITC 207 209 210 212 214
JINDALSTEL 562 568 575 581 588
JPASSOCIAT 76 77 79 80 82
KOTAKBANK 485 492 499 506 512
LT 1,366 1,379 1,392 1,406 1,419
M&M 821 828 837 845 854
MARUTI 1,109 1,117 1,125 1,133 1,141
NTPC 175 176 178 180 182
ONGC 270 274 281 285 292
PNB 955 967 977 989 999
POWERGRID 103 104 104 104 104
RANBAXY 487 492 500 504 512
RCOM 82 84 86 88 90
RELCAPITAL 359 367 372 381 386RELIANCE 863 873 879 890 896
RELINFRA 453 464 471 483 490
RPOWER 98 100 102 105 106
SAIL 107 109 110 112 114
SBIN 1,943 1,970 1,987 2,014 2,031
SESAGOA 205 209 212 215 218
SIEMENS 833 842 853 862 874
STER 121 122 124 125 126
SUNPHARMA 483 491 503 511 523
SUZLON 36 37 37 38 38
TATAMOTORS 183 186 189 192 194
TATAPOWER 101 102 103 104 106TATASTEEL 460 464 468 472 476
TCS 1,087 1,096 1,105 1,115 1,124
WIPRO 364 367 370 373 376
Technical Research Team
Daily Pivot Levels for Nifty 50 Stocks
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Technical Report
RESEARCH TEAM
Shardul Kulkarni Head - Technicals
Sameet Chavan Technical Analyst
Sacchitanand Uttekar Technical Analyst
Mehul Kothari Technical Analyst
Ankur Lakhotia Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3952 6600 Website: www.angelbroking.com
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