technical analysis (23 Nov 2015)

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DAILY TECHNICAL VIEW
23 NOV 2015
NIFTY
NIFTY HOURLY CHART
NIFTY DAILY CHARTS
NIFTY 19-NOV-15 20-NOV-15 Chg ()
Spot Price 7842.75 7856.55 0.18
Nifty future(prem/disc) 13.8
NIFTY LEVELS FOR THE DAY NIFTY LEVELS FOR THE DAY
TREND TREND SUPPORT RESISTANCE
Short term SIDE WAYS 7820-7770 7930-7990
Intermediate term SIDE WAYS 7720-7400 8030-8260
This FRIDAY, BULLS STRIDESBEARS LOOSING GRIP
BUYERS STOP 7770. Benchmark index is holding the
support of the gap (7720) after witnessing a
sharp correction from the higher slope of the
downward sloping channel. Now any sort position
created below the gap (7720) could be a best
strategy for the traders . During the last
trading session index opened slightly bearish and
remained flat during the first hour of the
trading session and bull gripped the market with
full force during the second hour of the trading
session and remained bullish afterwards but all
bullishness fizzled out during the closing hour
but nifty witnessed closing on a positive note
above the previous day high . So for the safe
short term buyers buying position should be
created taking a stoploss below 7770 and try to
make hedge positions to minimize the risk . FIIs
favors bears during the last trading session and
witnessed selling figure net of cash during the
last trading session.
Elite Wealth Advisors Ltd. - S-8,DDA Shopping
Complex, Mayur Vihar-1, New Delhi - 110091
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MARKET WATCH
23 NOV 2015 1 SEP 2015
2,JULY 2013
BANK NIFTY
ADVANCE DECLINE UNCHANGED
879 624 79
VOLUME (in crs) 19-NOVEMBER 20-NOVEMBER
Cash 15,315,55 17,019.69
FO 2,82,253.57 3,64,647.74
TOP GAINERS AND LOSERSS TOP GAINERS AND LOSERSS TOP GAINERS AND LOSERSS TOP GAINERS AND LOSERSS TOP GAINERS AND LOSERSS
Scrip Scrip Prev Close LTP Chg ()
GAIL 317.90 348.40 9.59
WIPRO 556.75 569.70 2.33
BANKBARODA 168.10 171.95 2.29
AMBUJACEM 198.05 202.40 3.40
DRREDDY 3281.10 3350.10 2.10
ITC 352.05 344.10 -2.26
SUNPHARMA 742.50 726.10 -2.21
HINDALCO 78.40 77.35 -1.34
HCL TECH 873.95 863.25 -1.22
BOSCH LTD 19,200.00 19,010.00 -0.99

TREND TREND SUPPORT RESISTANCE
Short term SIDEWAYS 16800-16600 17200-17550
Intermediate term SIDEWAYS 16300-15400 18300-19200
BANK NIFTY is oscillating in a downward sloping
channel confirming the formation of immediate
downtrend (INTERMEDIATE TREND). During the last
trading session bank nifty tried to breach 20 ema
on the daily charts but made closing above that,
if bank nifty made a closing above 20 ema
immediate buying can be witnessed till the
resistance of 100 ema. So any buying should be
created above that level only. So we advise the
traders to go for buy positions only above 17200
and try to make a hedge position, this can be a
used as a strategy for the intraday traders as
well as positional traders . Note The above
mentioned levels of nifty and bank nifty are spot
level.

Institutional Activity (Cash) FII DII
18- NOVEMBER-15 (768.46) 759.26
19- NOVEMBER-15 (343.18) 233.82
20- NOVEMBER-15 (94.09) 610.16
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TECHNICAL TRADING PICKS
18 NOV 2015
2,JULY 2013
COMPANY NAME CMP BUY ABOVE CBSL TARGET TIME FRAME
MAH MAH 1315.25 1320 1280 1370 1 WEEK
BOSCH LTD 19049 19250 18600 19900-20300 1 WEEK
RATIONALE MAHMAH
RATIONALE BOSCH LTD
FOR THE DO
STOCK HAS WITNESSED A BREAKOUT OF THE DESCENDING
TRIANGLE DURING THE LAST TRADING SESSION ON THE
DAILY CHARTS WITH A CONVINSING MOVEMENT ABOVE
ALL THE EMAS WHICH SHOWS MORE BULLISHNESS BEING
CREATED IN THE STOCK. SO BUYING POSITIONS CAN BE
CREATED ABOVE 1320 FOR THE TARGET OF 1370 TAKING
A STOPLOSS BELOW 1280.
STOCK HAS WITNESSED A SHARP CORRECTION FROM THE
HIGHER LEVEL AND NOW STOCK IS TAKING THE SUPPORT
AT THE TREND LINE ALONG WITH A FORMATION OF DOJI
PATTERN ON THE DAILY CHARTS WHICH GIVES A GOOD
OPPOURTUNITY TO CREATE A BUY POSITION IN THE
STOCK IF IT MOVES ABOVE 19250 FOR THE TARGET OF
19900-20300 WITH A STOPLOSS OF 18600.
TAMM
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