The document provides a technical analysis of the Nifty, Bank Nifty, and CESC stock indexes and recommendations for trading. It finds that Nifty needs a break above 8450 for an up move while support is at 8393. Bank Nifty may continue rallying if it sustains above 17750 toward 18000. CESC is predicted to rally to 728 if it remains above 708 due to breaking a downtrend line and positive momentum indicators.

1. 13th Nov’14 Equity Bazaar
Nifty
Nifty Technical View:
 In yesterday’s trading session we have seen Nifty have given gap up opening and made life time high but not able to sustain higher levels and drifted lower.
 Candlesticks Pattern: On daily chart, Nifty prices have formed Gravestone candlesticks, which suggest indecision in prices.
 RSI: RSI also remains in the 60-40 range which itself suggest no clear direction of the trend.
 Conclusion: Below chart shows that, Nifty prices have traded in range bound area, Nifty needs to give breakout above 8450 for the fresh up move.
Resistance: R1 8438 R2 8465 R3 8510
Pivot : PL 8420
Support : S1 8393 S2 8375 S3 8330
Our Recommendation
Buy Nifty above 8450 Stop Loss 8400 Target 8600.
Sell Nifty below 8300 Stop Loss 8350 Target 8100.

2. 13th Nov’14 Equity Bazaar
Bank Nifty
Bank Nifty Technical View:
 Bank Nifty has given almost 200 points upward rally from 15528 levels and has close near higher levels.
 Price Pattern: We have seen Bank Nifty prices are in consolidation formation and traded in broad range were as upper levels is 17728 and lower levels is 17293.
 MACD: The MACD on the hourly charts has given cross over signal and sustain above central line which gives positive confirmation for prices.
 RSI: The momentum indicator, RSI is above 60 levels and forming negative divergence.
 Conclusion: If Bank Nifty will sustain above 17750 levels then we expect rally could continue towards 18000
Resistance: R1 17760 R2 17843 R3 18040
Pivot : PL 17643
Support : S1 17560 S2 17440 S3 17230
Our Recommendation
Buy BNF above 17700 Stop Loss 17600 Target: 18000.
Sell BNF below 17400 Stop Loss 17500 Target: 17100.

3. 13th Nov’14 Equity Bazaar
Stock of the Day
CESC View:
 We have seen CESC has given down trend line breakout and sustain above the crucial resistance of 687 levels.
 Candlesticks Pattern: On daily chart, we have seen CESC has formed large real bodies of green candlesticks which is positive confirmation for price.
 Moving Average: Moving averages are also given cross over signal below the trend line breakout level which is confirmation for uptrend.
 MACD: The MACD on the hourly charts has traded near its previous high with positive sign for price.
 RSI: Momentum indicator RSI is in overbought zone which show the momentum is strong for stock.
 Conclusion: If CESC trade above 708 levels then prices could rally towards 728 levels.
Resistance: R1 716 R2 724 R3 747
Pivot : PL 701
Support : S1 693 S2 678 S3 655
Our Recommendation
Buy CESC above 708 Stop Loss 696 Target: 728/755

4. 13th Nov’14 Equity Bazaar
Derivative Analysis  FIIS Data: FII’s are net Rs 459.47 Cr Buyers on 12th November 2014 and Dll’s are the net Rs 559.44 Cr Sellers on 12th November 2014.  Option Data: 8500 CE has the highest OI with 56 lakhs and 8400 CE has the second highest OI with 51 lakhs and 8000 PE has the highest OI with 56 lakhs and 8200 PE has the second highest OI with 53 lakhs.  Open Interest: The above options data shows that nifty has strong support at 8000 and has resistance at 8500. The change in level will take place once when NIFTY prices breaks 8200 mark.  Intraday Option Strategy: (A) Buy Nifty 8400 calls and Sell Nifty 8500 puts if buy level is breached. (B) Sell Nifty 8300 calls and Buy Nifty 8400 puts if sell level is breached.

5. 13th Nov’14 Equity Bazaar
SymbolS3S2S1PR1R2R3TrendActionACC 1478.521498.771506.431519.021526.681539.271559.52DownSellAMBUJACEM 219.88224.28226.87228.6833231.27233.08237.48UPBuyASIANPAINT 621.5634.2639.10646.9651.8659.6672.3DownSellAXISBANK 444.03460.38470.77476.7333487.12493.08509.43UPBuyBAJAJ-AUTO 2440.552515.952557.752591.352633.152666.752742.15UPBuyBANKBARODA 975.6995.61007.21015.61027.21035.61055.6UPBuyBHEL 235.4241.65244.55247.9250.8254.15260.4SidewayNo ActionBPCL 737.43752.43758.87767.4333773.87782.43797.43DownSellBHARTIARTL 375.52381.07384.18386.6167389.73392.17397.72UPBuyCAIRN 265.8269.3270.7272.8274.2276.3279.8DownSellCIPLA 572.1598.9608.6625.7635.4652.5679.3DownSellCOALINDIA 336.23341.43343.67346.6333348.87351.83357.03DownSellDLF 129.97134.52137.28139.0667141.83143.62148.17UPBuyDRREDDY 3355.073397.773418.733440.4673461.433483.173525.87DownBuyGAIL 472.37479.87482.73487.3667490.23494.87502.37DownSellGRASIM 3279.453439.053537.33598.653696.93758.253917.85UPBuyHCLTECH 1547.11575.51588.001603.91616.41632.31660.7DownSellHDFCBANK 880.43896.18903.97911.9333919.72927.68943.43SidewayNo ActionHEROMOTOCO 2858.122907.122937.232956.1172986.233005.123054.12UPBuyHINDALCO 145.87148.87150.08151.8667153.08154.87157.87DownSellHINDUNILVR 750759.4764.7768.8774.1778.2787.6UPBuyHDFC 1097.071118.571130.631140.0671152.131161.571183.07UPBuyITC 356.18362.03365.77367.8833371.62373.73379.58UPBuyICICIBANK 1661.871683.621695.781705.3671717.531727.121748.87UPBuyIDFC 147.1152.1154.55157.1159.55162.1167.1SidewayNo ActionINDUSINDBK 708.13716.88722.27725.6333731.02734.38743.13UPBuyINFY 4010.734064.334085.174117.9334138.774171.534225.13DownSellJINDALSTEL 140.6147.1150.2153.6156.7160.1166.6DownSellKOTAKBANK 1063.71092.451109.41121.21138.151149.951178.7UPBuyLT 1550.531586.231599.871621.9331635.571657.631693.33DownSellLUPIN 1385.171405.771414.331426.3671434.931446.971467.57DownSellM&M 1210.131234.131243.871258.1331267.871282.131306.13DownSellMARUTI 3224.423285.723322.733347.0173384.033408.323469.62UPBuyNMDC 148.78152.28154.17155.7833157.67159.28162.78UPBuyNTPC 134.87139.17140.68143.4667144.98147.77152.07DownSellONGC 383.08388.98391.32394.8833397.22400.78406.68DownSellPOWERGRID 133.1138.65140.8144.2146.35149.75155.3DownSellPNB 910.25933.95943.8957.65967.5981.351005.05DownSellRELIANCE 946.65960.95967.5975.25981.8989.551003.85DownSellSSLT 225.08233.98237.87242.8833246.77251.78260.68DownSellSBIN 2679.132715.082730.572751.0332766.522786.982822.93DownSellSUNPHARMA 837.5872.25889.15907923.9941.75976.5DownSellTCS 2520.582556.582574.172592.5832610.172628.582664.58SidewayNo ActionTATAMOTORS 500.22515.22523.53530.2167538.53545.22560.22UPBuyTATAPOWER 84.9888.4889.7791.9833393.2795.4898.98DownSellTATASTEEL 438.13455.18461.77472.2333478.82489.28506.33DownSellTECHM 2537.62583.5526022629.52647.952675.452721.4DownSellULTRACEMCO 2539.872588.872606.732637.8672655.732686.872735.87DownSellWIPRO 540.13548.38552.22556.6333560.47564.88573.13SidewayNo ActionZEEL 352.48362.53366.97372.5833377.02382.63392.68DownSell

6. 13th Nov’14 Equity Bazaar
Amit Pawar (Research Associate) amit.pawar@choiceindia.com
Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
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7. 13th Nov’14 Equity Bazaar
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.