Daily Technical Outlook                                                                                                   ...
Jaldi 5 (Short Term Technical Ideas for 5 Trading Days)                                                                   ...
NOTE:TECHNICAL ANALYSIS ABBREVATIONSSMA – Simple Moving AverageEMA – Exponential Moving AverageWMA – Weighted Moving Avera...
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Keynote technicals daily report for 220213


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Keynote technicals daily report for 220213

  1. 1. Daily Technical Outlook 22nd February 2013 Indices * Close % Chg. Nifty cracks on weak global cues BSE SENSEX 19325.36 -1.62 S&P CNX NIFTY 5852.25 -1.53 Mirroring the weak global market cues the domestic markets witnessed a gap down opening. Sustained selling pressure NIFTY FEB 13 FUT. 5853.45 -1.85 was witnessed as markets moved lower. The markets failed India VIX 16.94 8.58 to show any resilience as buying support remained elusive. S&P CNX NIFTY Technical Levels Increased selling pressure was witnessed in the afternoon Level 1 Level 2 Level 3 session. The markets ended the day with large losses toSupport 5816 5747 5571 close near the lows for the day. The top losers for the day were Jindal Steel, Tata Steel, Rel. Infra, Sesa Goa, ICICIResistance 5885 5966 6158 Bank, JP Associates, Hindalco, Maruti, IDFC and PNB. Simple Moving Averages S&P CNX NIFTY Technically, the market breadth remained weak amidst50 Day SMA 5961.43 ◄Negative higher volumes, which is a negative sign for the stocks.100 Day SMA 5840.23 The prevailing negative technical conditions weighed on200 Day SMA 5525.13 the market sentiment. The Stochastic, KST and RSI have Market Breadth * BSE NSE once again slipped below their respective averages. Moreover, the MACD is already placed below its average.Advances 904 197 Moreover, the Nifty remains placed below its 50-dayDeclines 1929 880 SMA, which does not augur well for the markets. TheSame 128 29 negative divergence pattern formed on the Nifty stillTotal 2961 1106 holds good and remains a sign of worry for the markets.A/D Ratio 0.47 : 1 0.22 : 1 Moreover, the KST and MACD are placed in the negative territory, which warns of impending selling pressure. Volume (Lacs Shares) * These negative technical conditions would lead to 21/02/13 20/02/13 % Chg. further selling pressure especially at higher levels.BSE 2116 1991 6.28 However, the prevailing positive technical conditions stillNSE 6418 6678 -3.90 hold good. The Nifty remains placed above its 100-dayTotal 8534 8669 -1.56 SMA and 200-day SMA. The Nifty’s 50-day SMA remains placed above Nifty’s 100-day SMA and 200-day SMA, the Turnover ( ` Crores) * later being called the ‘Golden Cross breakout’. These 21/02/13 20/02/13 % Chg. positive conditions would lead to intermediate bouts ofBSE 1957.61 1825.23 7.25 short covering and selective buying support at lowerNSE 13294.96 10233.77 29.91 levels. The –DI line is placed above the +DI line and isNSE F&O 164075.86 102672.65 59.80 also placed above the 32 level, indicating sellers areTotal 179328.43 114731.65 56.30 gaining strength. The market sentiment remains cautious ahead of the Union Budget. We hold our view that F&O Contracts Traded (NSE) * upsides should be used to add to short positions until 21/02/13 20/02/13 % Chg. Nifty moves and closes above the 50-day SMA. However,Index Fut. 373558 176032 112.21 stock specific action will be witnessed. In the meanwhile the markets would take cues from the news flow onStock Fut. 554394 463683 19.56 Union Budget, global markets, Rupee and the crudeIndex Opt. 4189780 2467376 69.81 prices. The support levels for Nifty are placed at 5816, 5747Stock Opt. 340305 289151 17.69 and 5571. The Nifty faces resistance at 5885, 5966, 6158Total 5458037 3396242 52.22 and 6313 levels.NOTE - * - Source – BSE & NSESanjay Bhatia (AVP – Technical Research), Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  2. 2. Jaldi 5 (Short Term Technical Ideas for 5 Trading Days) Stop Initiation Stop Loss Stock Close Action Price Loss * (%) Target Target (%) RemarksAllahabad Bank Fut 146.30 Sell Below 145.50 148.25 1.89 140 3.78Arvind Fut 85.10 Sell Below 84.25 86.25 2.37 80 5.04Bata Fut 749.70 Sell Below 749.00 760.00 1.47 725 3.20* Stop Losses are to be considered strictly on closing basis. Intra-day Resistance Intra-day Support Indices Close Pivot Point R1 R2 R3 S1 S2 S3BSE SENSEX 19325 19390 19490 19655 19920 19225 19125 18860S&P CNX NIFTY 5852 5873 5901 5949 6026 5824 5796 5719NIFTY FEB 13 FUT. 5853 5849 5851 5849 5849 5851 5849 5849 Stocks To Watch Out TodayHCL Tech; Hexaware, Mphasis, Tata Power, TCSAban, ABB, Allahabad Bank, Arvind, Aurobindo Pharma, Axis Bank, Bank of Baroda, Bank of India, Bata, Bharti Airtel,Colgate, Crompton Greaves, Dish TV, Exide, Godrej Inds; Havells, HDFC Bank, Hindalco, HOECL, ICICI Bank, IDBI, IDFC,India Infoline, Indusind Bank, IOB, ITC, IVRCL, Jet Airways, Jinal Saw, Jindal Steel, JSW Steel, Kotak Bank, Karnataka Bank,LIC Hsg; L&T, M&M, NHPC, NMDC, ONGC, OBC, Pantaloon retail, PFC, Powergrid, Raymond, Rel. Comm; Rel. Infra, SAIL,SBI, Sesa Goa, Sun TV, Tata Comm; Tata Global, Tata Motors, Tata Steel, Titan, Union Bank, Yes Bank, ZEEL Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  3. 3. NOTE:TECHNICAL ANALYSIS ABBREVATIONSSMA – Simple Moving AverageEMA – Exponential Moving AverageWMA – Weighted Moving Average Disclaimer This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed 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 report is 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 or solicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personal recommendation 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 its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match 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 a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent 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 buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation 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 the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related 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. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com