Daily Technical Report

November 11, 2013

Sensex (20666) / Nifty (6141)

On Friday, our benchmark index opened marginally lower inline with other Asian bourses. The index then faced significant selling pressure and as a result, the Nifty shed nearly a percent by noon. However, some recovery towards the end led the index to close with half a percent loss. On the sectoral front, the Realty and Capital goods sectors closed in positive territory; whereas the Consumer Durables, Banking and Oil & Gas counters continued to be laggards. The advance to decline ratio was in favor of the declining counters. (A=1096 D=1350)(Sourcewww.bseindia.com) Formation The 89-day EMA and the 89-week EMA are placed at 19945 / 5934 and 18954 / 5697 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 20733 / 6160 and 19973 / 5945 levels, respectively. The monthly momentum oscillators are now positively poised; whereas the daily and weekly momentum oscillators are contradictory. On the monthly chart, we are observing a breakout from the Multiple Resistance Zone (on line chart).

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Support Levels Neutral 6120 6079 6185 6208

Trading strategy: All the four trading sessions during the week ended in the negative territory, indicating skepticism among market participants near historical highs. The higher degree chart remains bullish, but the price movement seen during the week has created doubts in the minds of the bulls. On the daily chart, we observed that the Nifty broke down from the Upward Sloping Trend Line (please refer to the exhibit) a couple of trading session ago and has now closed marginally above another Upward Sloping Trend Line (please refer to the exhibit). This price development adds another point to the perplexity. Going forward, we would advise traders to stick to their bullish stance as long as the Nifty doesnt close below the important swing low of 6079. A fall and close below this level would distort the daily higher top - higher bottom structure and may result in a further decline in the Nifty towards 5950 5900 levels. On the other hand, so long as the Nifty manages to hold above 6079, then the possibility of re-testing 6289 and even 6357 cannot be ruled out. We continue to advise traders to adopt a stock specific approach and trade with strict stop losses.

Resistance Level

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Daily Technical Report

November 11, 2013

Bank Nifty Outlook - (10913)

Yesterday, the Bank Nifty opened marginally lower in-line with the broader market and remained under selling pressure for most part of the session. On the daily chart, the Bank Nifty has closed tad below an important trend line support. Also, momentum oscillators on the weekly chart are negatively poised and indicate high probability of further weakness in the near term. (Please refer exhibit).Hence, going forward, if Bank Nifty sustains below Friday's low of 10841, then we may see further downside up to 10660 - 10500 levels. On the flip side, 11067 is an immediate resistance for the bank nifty. Only a sustainable move beyond this level would open up the possibilities for further up move towards 11228 11400 levels and also will negate the trend line breakdown.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Support Levels Resistance Level

Neutral 10841 10660 11400 Source: Falcon

Technical Calls
Date 11/11/2013 Stock Tata Global Segment Future Action Sell Price Range Below 158.5 CMP 161.45 SL 162.7 Target 152

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Daily Technical Report

November 11, 2013

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 20,476 6,085 10,715 1,065 172 540 1,081 2,024 581 337 129 346 307 417 286 143 2,369 328 2,634 1,083 785 632 2,058 113 577 1,033 103 418 3,327 314 236 45 709 932 868 858 1,530 134 149 265 496 93 392 862 427 1,709 193 581 362 81 341 2,037 1,886 S1 20,571 6,113 10,814 1,077 174 548 1,100 2,045 591 340 132 349 309 420 289 148 2,385 334 2,656 1,099 797 642 2,075 115 581 1,041 104 423 3,344 317 238 46 718 954 876 868 1,555 135 151 271 509 94 407 869 440 1,727 196 591 373 82 349 2,064 1,906 PIVOT 20,696 6,149 10,941 1,097 178 555 1,132 2,077 603 347 135 354 311 423 292 151 2,410 338 2,675 1,116 818 655 2,095 116 587 1,050 107 428 3,366 320 240 47 726 966 885 883 1,583 137 152 278 530 95 416 878 447 1,747 199 600 382 82 353 2,098 1,923 R1 20,791 6,177 11,040 1,109 181 563 1,151 2,098 613 350 138 357 313 426 295 156 2,427 344 2,697 1,131 830 665 2,112 118 592 1,058 108 433 3,383 323 243 48 735 988 893 894 1,608 139 154 284 543 97 430 886 459 1,765 203 610 393 83 360 2,125 1,943 R2 20,916 6,213 11,166 1,129 184 570 1,183 2,130 625 357 140 362 316 430 299 158 2,452 348 2,716 1,148 851 678 2,132 120 598 1,066 110 438 3,406 327 245 49 743 1,000 902 908 1,635 140 156 290 563 98 439 895 466 1,785 206 619 402 84 364 2,158 1,960

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Daily Technical Report

November 11, 2013
Research Team Tel: 022 - 30940000 E-mail: [email protected] Website: www.angelbroking.com

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Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Head Technicals Technical Analyst Technical Analyst

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