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Money Trend 24 November 2011 Aditya Birla Money
S&P CNX Nifty CMP 4706
R
Weekly Chart Synopsis
NIFTY weakened to as low as 4641 during the session
however pared its losses and settled at 4706, lower by 106
points yesterday.
Momentum in the daily RSI (14) and MACD (12/26/9) is weak
while prices have closed below the August low of 4720. Hence
the index could continue to trade weak in the near-term and
re-test supports at 4670 and 4611.
On the higher side, immediate resistance is seen at 4741 and
then at yesterday’s high of 4780.
Note that RSI (14) has moved into the oversold zone on daily
chart and is consolidating building up positive divergence on
hourly charts. This indicates the possibility of notable upside
recovery in coming days however confirmation from price
action is awaited.
Close R1 R2 R3 S1 S2 S3
4706 4741 4780 4854 4670 4611 4540
Momentum Moving Average Outlook and Strategy
14 Days RSI 29 21 EMA 5025 As long as the index stays below the resistance zone of 4741/4780 trend
is considered to be down and prices could test supports at 4670 and
MACD 12, 26, 9 -72 55 EMA 5084 4611.
Stochastic (5,3,3) 12 200 EMA 5300
Bank Nifty Futures CMP 8406
Daily Chart Synopsis
11500 11500
Bank Nifty breached the crucial support at 8500 and fell
11000 11000
sharply lower towards 8230; however the index was able to
10500 10500 recover and close off the day lows at 8400 zone.
With this the index has formed a Bullish Hammer pattern;
10000 10000
9500 9500 however a breach of the hammer high at 8545 and a close
above it is crucial for the up move to continue towards
9000 9000
8650/8800.
8500 8500
On the lower side support is place at 8300 and then at 8200
levels.
80 90
70
60
80
70 With daily momentum oversold dips, if any is likely to find
60
50 50 support at the mentioned supports.
40 40
30 30
20 20
10 10
0
11 18 25 1 8 16 22 29 12 19 26 3 10 17 24 31 8 21 28
ly Augus t Septem ber October Novem ber D
Close R1 R2 R3 S1 S2 S3
8406 8500 8550 8700 8300 8200 8100
Momentum Moving Average Outlook and Strategy
14 Days RSI 27 21 EMA 9200 A breach above 8550 would be needed to confirm further up move towards
8650/8800.
MACD 12, 26, 9 (256) 55 EMA 9522
Stoch (5,3,3) 12 200 EMA 10243
Aditya Birla Money Limited
2nd Floor, Sheil Estate, Dani Corporate Park, 158 CST Road, Kalina, Santacruz (East), Mumbai 400 098 | Tel: +91 22 42333400
Page No: 1
Money Trend 24 November 2011 Aditya Birla Money
PIVOT POINTS – Cash levels
Scrip Name Close RB2 RB1 PP SB1 SB2 Scrip Name Close RB2 RB1 PP SB1 SB2
NIFTY 4706 4900 4795 4709 4623 4517 BRFL 274 323 292 268 243 213
BANKNIFTY 8399 8835 8594 8399 8203 7962 CAIRN 295 308 301 295 289 282
CNXIT 5843 6065 5944 5845 5747 5625 CANBK 419 488 456 431 406 374
ABAN 354 371 361 354 346 337 CENTURYTEX 270 280 274 269 265 259
ABB 585 631 609 591 574 552 CESC 240 275 259 246 233 217
ABGSHIP 384 425 400 381 361 337 CHAMBLFERT 84 88 85 84 82 79
ABIRLANUVO 866 948 910 880 850 812 CHENNPETRO 183 194 189 185 180 175
ACC 1131 1160 1146 1134 1122 1108 CIPLA 314 325 319 315 311 305
ADANIENT 296 338 319 303 287 267 COLPAL 985 1028 1007 990 973 952
ADANIPOWER 72 77 75 73 71 68 CONCOR 935 992 964 942 919 891
ALBK 146 175 155 138 122 101 COREEDUTEC 266 293 278 266 254 239
AMBUJACEM 147 151 149 147 144 142 CROMPGREAV 115 127 121 117 112 107
ANDHRABANK 97 105 101 98 94 90 CUMMINSIND 334 364 350 338 327 313
APIL 421 443 431 422 413 401 DABUR 98 104 101 99 97 94
APOLLOTYRE 61 65 63 61 60 58 DCHL 45 51 48 46 43 40
AREVAT&D 192 215 204 196 187 177 DENABANK 62 67 65 63 61 58
ASHOKLEY 25 26 25 25 24 24 DISHTV 60 68 64 61 58 54
ASIANPAINT 2893 3074 2974 2892 2811 2710 DIVISLAB 713 750 728 711 693 672
AUROPHARMA 90 100 93 88 83 77 DLF 196 206 201 197 193 188
AXISBANK 937 964 947 934 920 904 DRREDDY 1533 1613 1568 1531 1494 1448
BAJAJ-AUTO 1600 1656 1621 1593 1564 1529 EDUCOMP 181 193 186 180 174 166
BAJAJHIND 28 33 31 29 26 24 EKC 40 47 44 41 39 35
BALRAMCHIN 43 49 46 44 42 39 ESSAROIL 68 74 71 69 66 63
BANKBARODA 694 723 707 693 680 663 EXIDEIND 111 117 114 112 109 106
BANKINDIA 326 347 336 327 318 307 FEDERALBNK 340 364 353 343 334 323
BEL 1479 1529 1503 1481 1460 1433 FINANTECH 559 608 584 565 545 521
BEML 449 513 480 455 429 396 FORTIS 113 119 116 113 111 108
BGRENERGY 247 272 260 250 241 229 FSL 8 10 9 9 8 7
BHARATFORG 259 312 288 269 249 225 GAIL 373 392 383 375 367 357
BHARTIARTL 365 391 376 365 353 338 GESHIP 207 213 210 207 203 200
BHEL 256 272 264 257 251 242 GLAXO 1903 2043 1968 1908 1848 1773
BHUSANSTL 319 325 321 318 314 310 GMDCLTD 164 180 172 165 159 150
BIOCON 305 338 322 309 296 280 GMRINFRA 20 22 21 20 19 18
BOSCHLTD 6900 7077 6984 6909 6834 6741 GODREJIND 172 188 180 173 167 159
BPCL 500 535 517 503 489 472 GRASIM 2267 2351 2303 2265 2227 2179
PP= Pivot Point RB1= Fibonacci Resistance 1 RB2=Fibonacci resistance 2 SB1= Fibonacci support 1 SB2= Fibonacci support 2
How to trade Pivot points: If stock opens above Pivot point then go LONG, and keep SB1 as the stop loss for a possible target of RB1 / RB2.
If stock opens below Pivot point then go SHORT and keep RB1 as the stop loss for a possible target of SB1 / SB2
Aditya Birla Money Limited
2nd Floor, Sheil Estate, Dani Corporate Park, 158 CST Road, Kalina, Santacruz (East), Mumbai 400 098 | Tel: +91 22 42333400
Page No: 2
Money Trend 24 November 2011 Aditya Birla Money
Scrip Name Close RB2 RB1 PP SB1 SB2 Scrip Name Close RB2 RB1 PP SB1 SB2
GSPL 88 91 89 88 87 85 JINDALSTEL 500 533 515 501 487 469
GTL 37 41 39 38 36 34 JINDALSWHL 391 445 420 399 379 354
GTLINFRA 9 10 9 9 8 8 JISLJALEQS 124 131 127 124 121 117
GTOFFSHORE 94 106 100 96 91 86 JPASSOCIAT 60 65 63 61 59 57
GVKPIL 10 11 10 10 10 10 JPPOWER 34 36 35 34 34 33
HCC 21 23 22 21 20 18 JSWSTEEL 551 590 568 551 534 512
HCLTECH 385 404 393 385 376 366 KFA 24 26 25 25 24 23
HDFC 624 662 642 626 609 589 KOTAKBANK 441 467 454 444 434 422
HDFCBANK 426 465 444 427 410 389 KSOILS 7 7 7 7 7 6
HDIL 64 72 68 65 63 59 LICHSGFIN 218 230 223 218 213 206
HEROMOTOCO 2127 2312 2222 2150 2078 1988 LITL 12 13 12 12 12 11
HEXAWARE 83 90 86 84 81 77 LT 1189 1266 1230 1201 1171 1135
HINDALCO 119 124 121 119 117 114 LUPIN 457 482 466 453 440 424
HINDPETRO 289 304 296 291 285 277 M&M 697 731 711 695 679 659
HINDUNILVR 384 396 389 383 378 371 MARUTI 954 994 973 956 939 919
HINDZINC 110 116 113 111 109 106 MCDOWELL-N 736 780 757 739 720 697
HOTELEELA 32 35 33 32 30 29 MCLEODRUSS 213 228 219 213 206 197
IBREALEST 60 66 63 61 59 56 MLL 21 23 22 21 20 19
ICICIBANK 727 767 744 726 707 684 MOSERBAER 21 22 21 21 20 19
ICSA 42 44 43 42 41 40 MPHASIS 299 318 307 298 290 279
IDBI 91 97 94 92 89 86 MRPL 60 63 61 60 58 56
IDEA 94 106 99 94 88 81 MTNL 25 27 26 25 24 23
IDFC 103 113 108 104 100 95 MUNDRAPORT 124 141 133 126 119 110
IFCI 21 23 22 22 21 20 NCC 37 41 39 38 36 34
INDHOTEL 58 61 59 58 57 55 NATIONALUM 51 56 54 52 50 48
INDIACEM 69 72 70 68 67 65 NEYVELILIG 68 77 73 70 67 63
INDIAINFO 57 66 61 57 53 47 NHPC 22 23 23 22 22 21
INDIANB 188 203 194 187 180 171 NOIDATOLL 22 23 23 22 22 21
INFY 2653 2753 2698 2653 2609 2553 NTPC 157 163 159 155 152 148
IOB 90 94 92 90 89 87 OFSS 1971 2017 1991 1970 1949 1924
IOC 263 280 272 265 258 249 ONGC 247 261 253 247 240 233
JSWISPAT 10 11 11 10 10 9 ONMOBILE 61 71 66 62 58 53
ITC 193 202 197 193 189 183 OPTOCIRCUI 199 227 214 203 193 180
IVRCLINFRA 32 34 33 32 31 30 ORBITCORP 26 28 27 26 26 25
JINDALSAW 113 123 118 113 109 103
PP= Pivot Point RB1= Fibonacci Resistance 1 RB2=Fibonacci resistance 2 SB1= Fibonacci support 1 SB2= Fibonacci support 2
How to trade Pivot points: If stock opens above Pivot point then go LONG, and keep SB1 as the stop loss for a possible target of RB1 / RB2.
If stock opens below Pivot point then go SHORT and keep RB1 as the stop loss for a possible target of SB1 / SB2
Aditya Birla Money Limited
2nd Floor, Sheil Estate, Dani Corporate Park, 158 CST Road, Kalina, Santacruz (East), Mumbai 400 098 | Tel: +91 22 42333400
Page No: 3
Money Trend 24 November 2011 Aditya Birla Money
Scrip Name Close RB2 RB1 PP SB1 SB2 Scrip Name Close RB2 RB1 PP SB1 SB2
ORCHIDCHEM 150 166 158 152 145 137 SRTRANSFIN 501 521 509 499 489 477
ORIENTBANK 266 284 274 266 258 248 STER 104 109 106 104 101 98
PANTALOONR 179 209 195 183 172 157 STERLINBIO 67 71 69 68 66 65
PATELENG 81 90 86 83 80 76 SUNPHARMA 498 519 508 500 491 481
PATNI 428 455 439 427 414 398 SUNTV 249 281 264 250 236 219
PETRONET 155 159 157 155 153 151 SUZLON 22 24 23 22 21 20
PFC 161 169 165 162 158 154 SYNDIBANK 96 102 99 97 94 91
PIRHEALTH 352 362 357 354 350 345 TATACHEM 330 340 334 330 326 321
PNB 883 932 902 878 854 824 TATACOMM 181 196 189 183 177 170
POLARIS 120 132 126 122 117 112 TATAGLOBAL 81 85 83 81 80 78
POWERGRID 95 101 98 96 93 91 TATAMOTORS 168 176 172 168 165 161
PRAJIND 69 74 71 69 67 64 TATAPOWER 91 97 94 92 89 86
PTC 47 51 49 47 46 43 TATASTEEL 383 398 390 383 376 368
PUNJLLOYD 46 50 48 46 45 43 TCS 1062 1118 1087 1062 1036 1005
RANBAXY 428 456 443 432 421 407 TECHM 573 610 592 578 564 546
RCOM 70 81 75 71 66 61 TITAN 191 202 194 188 181 173
RECLTD 183 192 187 183 179 174 TRIVENI 14 17 16 15 14 12
RELCAPITAL 291 309 300 293 286 277 TTML 14 15 15 14 14 14
RELIANCE 773 820 794 773 752 726 TULIP 122 145 133 123 114 102
RELINFRA 393 424 409 398 386 371 UCOBANK 59 65 62 60 57 54
RELMEDIA 83 88 85 83 81 78 ULTRACEMCO 1108 1151 1130 1113 1096 1074
RENUKA 31 38 35 32 29 26 UNIONBANK 205 214 209 204 200 195
ROLTA 57 61 59 57 56 53 UNIPHOS 125 142 134 128 122 114
RPOWER 90 96 93 91 88 86 UNITECH 23 27 25 23 22 20
RUCHISOYA 98 108 103 99 95 90 VIDEOIND 168 177 173 169 165 161
SAIL 88 93 90 88 86 84 VIJAYABANK 50 52 51 50 49 48
SIMPLEX 81 97 89 82 75 66 VOLTAS 84 89 86 84 82 79
SBIN 1655 1717 1681 1652 1623 1588 WELCORP 72 80 76 73 70 67
SCI 59 63 61 59 57 55 WIPRO 366 386 376 367 359 349
SESAGOA 172 183 176 170 165 158 YESBANK 265 273 268 264 260 255
SIEMENS 683 731 704 681 659 632 ZEEL 114 123 118 115 111 107
SINTEX 90 97 94 91 88 84
SOBHA 215 247 232 220 208 193
PP= Pivot Point RB1= Fibonacci Resistance 1 RB2=Fibonacci resistance 2 SB1= Fibonacci support 1 SB2= Fibonacci support 2
How to trade Pivot points: If stock opens above Pivot point then go LONG, and keep SB1 as the stop loss for a possible target of RB1 / RB2.
If stock opens below Pivot point then go SHORT and keep RB1 as the stop loss for a possible target of SB1 / SB2
Aditya Birla Money Limited
2nd Floor, Sheil Estate, Dani Corporate Park, 158 CST Road, Kalina, Santacruz (East), Mumbai 400 098 | Tel: +91 22 42333400
Page No: 4
Money Trend 24 November 2011 Aditya Birla Money
Research Team
Vivek Mahajan
Head of Research
022-42333522
vivek.mahajan@adityabirla.com
Fundamental Team
Avinash Nahata Head of Fundamental Desk 022-42333459 avinash.nahata@adityabirla.com
Akhil Jain Metals & Mining 022-42333540 akhil.jain@adityabirla.com
Sunny Agrawal FMCG/Cement 022-42333458 sunny.agrawal@adityabirla.com
Sumit Jatia Banking & Finance 022-42333460 sumit.jatia@adityabirla.com
Shreyans Mehta Construction/Real Estate 022-42333544 shreyans.m@adityabirla.com
Dinesh Kumar Information Technology/Auto 022-42333531 dinesh.kumar.k@adityabirla.com
Pradeep Parkar Database/Production 022-42333597 pradeep.parkar@adityabirla.com
Quantitative Team
Rizwan Khan, CMT Technical and Derivative Strategist 022-42333454 rizwan.khan@adityabirla.com
Jyoti Nangrani, CMT Sr. Technical Analyst 022-42333454 jyoti.nangrani@adityabirla.com
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Rahul Tendolkar Derivatives Analyst 022-42333532 rahul.tendolkar@adityabirla.com
Amit Somani Derivative Analyst 022-42333532 Amit.somani@adityabirla.com
Advisory Support
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ABML research is also accessible in Bloomberg at ABMR
Aditya Birla Money Limited
2nd Floor, Sheil Estate, Dani Corporate Park, 158 CST Road, Kalina, Santacruz (East), Mumbai 400 098 | Tel: +91 22 42333400
Page No: 5
Money Trend 24 November 2011 Aditya Birla Money
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