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Keynote technicals daily report 220811

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  • 1. Daily Technical Outlook 22nd August 2011 Indices Close % Chg. Mirroring the negative set of global market cues, the domestic BSE SENSEX 16141.67 -1.99 markets witnessed a gap down opening. Sustained selling S&P CNX NIFTY 4845.65 -1.99 pressure was witnessed as markets drifted lower. Buying NIFTY AUG. FUT. 4850.85 -1.80 support remained elusive as market sentiment remained India VIX 29.19 6.33 negative. The markets failed to show any resilience against sustained selling pressure as Nifty traded below the 4900 S&P CNX NIFTY Technical Levels level. The markets ended the day with moderate losses to Level 1 Level 2 Level 3 close near the lows for the day. The top gainers for the day were Infosys Tech., Tata Motors, L&T, BHEL, Axis Bank,Support 4806 4757 4481 ICICI Bank, Sterlite, Dr. Reddys, TCS and Cairn India.Resistance 4987 5195 5262 Technically, the market breadth remained negative Volume (Lacs Shares) amidst higher volumes, which is a negative sign for the 19/08/11 18/08/11 % Chg. markets. The global market set of cues are mix. TheBSE 2561 2299 11.40 domestic markets are likely to witness a flat opening. TheNSE 6993 6332 10.45 Stochastic, MACD, RSI and KST are placed below theirTotal 9554 8631 10.70 respective averages. The Nifty continues to trade belowSource – BSE & NSE its 200-day SMA. Further the 50-day SMA remains placed below the 100-day SMA. The Nifty remains placed below Turnover ( ` Crores) the February’11 ascending trendline. The -DI line and the 19/08/11 18/08/11 % Chg. ADX line remains placed above the 34 level, indicatingBSE 2763.78 2241.65 23.29 sellers have an upper hand. The +DI line continues toNSE 12649.86 10510.20 20.36 move lower. Moreso, the KST and MACD are placed inNSE F&O 190679.86 151029.94 26.25 the negative territory. These conditions would result inTotal 206093.50 163781.79 25.83 selling pressure at regular intervals. However, theSource – BSE & NSE MACD, RSI, KST and Stochastic are placed in the over Market Breadth (NSE) sold territory on the daily charts. This condition would lead to regular bouts of short covering and buyingAdvances 353 support leading to relief rally. The market sentimentDeclines 1127 remains negative. The markets will display intermediateSame 44 bouts of volatility and choppiness. In the meanwhile theTotal 1524 markets would take cues from the newsflow on AnnaA/D Ratio 0.31 : 1 Hazare’s campaign, global markets and news flow on theSource – NSE progress of monsoon. The support levels for Nifty are Moving Averages S&P CNX NIFTY placed at 4806, 4757 and 4481. The Nifty faces resistance at50 Day SMA 5429.96 the 4987, 5195, 5262, 5364 and 5500 levels. ◄Negative100 Day SMA 5535.83200 Day SMA 5640.18 ◄Negative Intra-day Resistance Intra-day Support Indices Close Pivot Point R1 R2 R3 S1 S2 S3BSE SENSEX 16142 16139 16290 16439 16739 15990 15839 15539S&P CNX NIFTY 4846 4845 4894 4943 5040 4797 4748 4650NIFTY AUG. FUT. 4851 4852 4902 4954 5056 4800 4750 4647Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  • 2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days) Stop Initiation Stop Loss Target Stock Close Action Price Loss * (%) Target (%) RemarksApollo Tyre 52.90 Sell Below 52.00 55.25 6.25 45.00 13.46Areva 210.85 Sell Below 208.00 212.50 2.16 198.00 4.81Bharti Airtel 383.65 Sell Below 380.00 389.00 2.37 360.00 5.26NHPC 23.20 Sell Below 23.00 23.75 3.26 21.50 6.52Renuka Sugar 52.55 Sell Below 51.00 53.75 5.39 45.00 11.76Voltas 116.85 Sell Below 115.00 119.50 3.91 105.00 8.70* Stop Losses are to be considered on Closing basis only. Disclaimer Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  • 3. This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced orredistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This reportis not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer orsolicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personalrecommendation or take into account the particular investment objectives, financial situations, or needs of individual clients.We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though itsaccuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liabilityarising from the use of this document. The recipients of this material should rely on their own investigations and take their ownprofessional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guidefor future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investmentgrade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studyingcharts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may notmatch with a report on a company’s fundamentals.Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on areasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent usfrom doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may besubject to change without notice. Our proprietary trading and investment businesses may make investment decisions that areinconsistent with the recommendations expressed herein.We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buyor sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securitiesand earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed hereinor act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to anyrecommendation and related information and opinions.The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about thesubject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectlyrelated to specific recommendations or views expressed in this report.No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com