Keynote technicals daily report for 300312


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Keynote technicals daily report for 300312

  1. 1. Daily Technical Outlook 30th March 2012 Indices * Close % Chg. Mirroring the negative global market cues the domestic BSE SENSEX 17058.61 -0.37 markets witnessed a gap down opening. However, the over S&P CNX NIFTY 5178.85 -0.31 all trend remained range bound. Short covering was NIFTY APRIL FUT. 5232.60 -0.28 witnessed at lower levels amidst selective buying support. India VIX 24.33 -2.17 The markets witnessed occasional bouts of volatility due to the derivative segment expiry. Increased selling pressure was S&P CNX NIFTY Technical Levels witnessed at higher levels as markets struggled to sustain Level 1 Level 2 Level 3 higher. The markets ended the day with modest losses toSupport 5161 5037 4955 close near the lows for the day. The top losers for the dayResistance 5400 5681 5728 Siemens, Rel. Comm; L&T, TCS, Infosys Tech; Bharti Airtel, SAIL, BHEL, Cairn India and Axis Bank. Moving Averages S&P CNX NIFTY50 Day SMA 5305.97 Technically, the market breadth remained positive amidst100 Day SMA 5071.42 lower volumes. The global market cues are divergent.200 Day SMA 5149.66 ◄ Crucial The domestic markets are likely to witness a flat opening. The Nifty has managed to hold on above the 200-day Volume (Lacs Shares) * SMA, which augurs well for the markets. The prevailing 29/03/12 28/03/12 % Chg. few technical negatives continued to weigh on theBSE 2440 4981 -51.01 market sentiment. The MACD, RSI and KST are placedNSE 8753 6968 25.63 below their respective averages. More so the KST is placed in the negative territory and warns of anTotal 11193 11949 -6.32 impending selling pressure. These conditions would lead Turnover ( ` Crores) * to intermediate bouts of selling pressure, especially at 29/03/12 28/03/12 % Chg. higher levels. The Nifty is placed below its 50-day SMA, which is a short term negative. However, the markets areBSE 2003.70 3685.71 -45.64 likely to witness intermediate bouts of pull back rally asNSE 14690.35 10906.72 34.69 the Stochastic has moved above its average and is stillNSE F&O 250218.19 189039.70 32.36 placed in the over sold territory. The Nifty also remainsTotal 266912.24 203632.13 31.08 placed above its 200-day SMA. Moreover, the Nifty’s 50- day SMA remains placed above Nifty’s 100-day SMA and F&O Contracts Traded (NSE) * 200-day SMA, the later being called the “Golden 29/03/12 28/03/12 % Chg. Crossover” breakout. These conditions would help inIndex Fut. 941201 740509 27.10 witnessing short covering and selective buying supportStock Fut. 1205629 897032 34.40 at lower levels. The ADX line, +DI line and –DI lineIndex Opt. 7259521 5374593 35.07 continue to move sideways indicating a range boundStock Opt. 169760 139334 21.84 trend. The market sentiment remains negative. Now, it isTotal 9576111 7151468 26.78 important that the markets witness buying support for the Nifty to move higher and test the crucial 5400 Market Breadth (NSE) * resistance level. The markets are likely to remain volatileAdvances 835 as Nifty struggles around the 200-day SMA. In theDeclines 643 meanwhile the markets would take cues from the globalSame 65 markets and the crude prices in absence of domesticTotal 1543 cues. The support levels for Nifty are placed at 5161, 5037 and 4955. The Nifty faces resistance at the 5400, 5681, 5728A/D Ratio 1.30 : 1 and 5885 levels.NOTE - *- Source – BSE & NSESanjay Bhatia (AVP – Technicals), Email Id Yahoo Chat Id: 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
  2. 2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days) Stop Initiation Stop Loss Target Stock Close Action Price Loss * (%) Target (%) RemarksBajaj Hind 29.30 Sell Below 29 31.25 7.76 24 17.24BHEL 248.75 Sell Below 246 253.25 2.95 230 6.50Hindalco 124.80 Sell Below 124 130.00 4.84 111 10.48ABB 853.30 Buy Above 855 829.00 3.04 912.00 6.67* 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 17059 17030 17138 17218 17407 16950 16841 16652S&P CNX NIFTY 5179 5170 5203 5228 5286 5145 5111 5053NIFTY APRIL FUT. 5233 5221 5257 5282 5342 5197 5161 5100 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
  3. 3. DisclaimerThis document is not for public distribution and has been furnished to you solely for your information and must not bereproduced or redistributed to any other person. Persons into whose possession this document may come arerequired to observe these restrictions.This material is for the personal information of the authorized recipient, and we are not soliciting any action basedupon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in anyjurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of KeynoteCapitals Ltd. It does not constitute a personal recommendation or take into account the particular investmentobjectives, 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 reliablethough its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connectedwith it, accepts any liability arising from the use of this document. The recipients of this material should rely on theirown investigations and take their own professional advice. Price and value of the investments referred to in thismaterial may go up or down. Past performance is not a guide for future performance. Certain transactions -includingthose involving futures, options and other derivatives as well as non-investment grade securities - involve substantialrisk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’sprice 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 toupdate on a reasonable basis the information discussed in this material, there may be regulatory, compliance, orother reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-lookingstatements are not predictions and may be subject to change without notice. Our proprietary trading and investmentbusinesses 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 shortpositions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any othertransaction involving such securities and earn brokerage or other compensation or act as a market maker in thefinancial 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 andopinions.The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personalviews about the subject company or companies and its or their securities, and no part of his or her compensationwas, 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., priorwritten 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