Keynote technical daily report for 050313


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Keynote technical daily report for 050313

  1. 1. Daily Technical Outlook 5th March 2013 Indices * Close % Chg. Downtrend continues BSE SENSEX 18877.96 -0.21 S&P CNX NIFTY 5698.50 -0.37 Mirroring the weak global market cues the domestic markets witnessed a negative opening. Sustained selling pressure NIFTY MAR 13 FUT. 5716.85 -0.23 was witnessed in the morning trade as markets traded with India VIX 13.67 -2.77 moderate losses. However, the markets managed to come S&P CNX NIFTY Technical Levels off the lows for the day to move higher on back of short Level 1 Level 2 Level 3 covering and selective buying support. The marketsSupport 5571 5447 5258 managed to hold on at higher levels. The markets ended the day with modest losses but close near the highs for the day.Resistance 5747 5816 5885 The top losers for the day were JP Associates, Hindalco, Simple Moving Averages S&P CNX NIFTY Jindal Steel, ACC, Rel. Infra, DLF, Sesa Goa, HUL, Ambuja50 Day SMA 5945.33 ◄Negative Cement and L&T.100 Day SMA 5843.29 ◄Negative Technically, the market breadth remained negative200 Day SMA 5554.76 amidst higher volumes, which is a negative sign for the Market Breadth * BSE NSE markets. The prevailing negative technical conditions continue to hold good and are weighing on the marketAdvances 860 251 sentiment. The KST, RSI and MACD all are still placedDeclines 1958 820 below their respective averages. The Nifty remainsSame 110 25 placed below its 50-day and 100-day SMA, which doesTotal 2928 1096 not augur well for the markets. The negative divergenceA/D Ratio 0.44 : 1 0.31 : 1 pattern formed on the Nifty still holds good and remains a sign of worry for the markets. Moreover, the KST and Volume (Lacs Shares) * MACD are placed in the negative territory, which warns 04/03/13 01/03/13 % Chg. of impending selling pressure. These negative technicalBSE 3052 2262 34.92 conditions would lead to further selling pressureNSE 8463 7464 13.39 especially at higher levels. However, the prevailingTotal 11515 9726 18.40 positive technical conditions continue to hold good. The Stochastic is placed above its average. Moreover, the Turnover ( ` Crores) * Stochastic and RSI are placed in the over sold zone. The 04/03/13 01/03/13 % Chg. Nifty remains placed above its 200-day SMA. The Nifty’sBSE 1796.59 2045.32 -12.16 50-day SMA remains placed above Nifty’s 100-day SMANSE 10391.67 12142.79 -14.42 and 200-day SMA, the later being called the ‘GoldenNSE F&O 86431.61 111026.85 -22.15 Cross breakout’. These positive conditions would lead toTotal 98619.87 125214.96 -21.24 short covering and buying support at regular intervals. Though the –DI line and ADX line are placed above the F&O Contracts Traded (NSE) * +DI line and is also placed above the 29 level, -DI line has 04/03/13 01/03/13 % Chg. come off its recent highs, indicating sellers are coveringIndex Fut. 236442 316896 -25.39 shorts regularly. The market sentiment remains cautious. With no immediate domestic triggers, the markets wouldStock Fut. 393566 505281 -22.11 take cues from the global markets, Rupee and the crudeIndex Opt. 2110355 2685764 -21.42 prices. We hold our view that upsides should be used toStock Opt. 229870 271467 -15.32 add to short positions until Nifty moves and closesTotal 2970233 3779408 -16.33 above the 50-day SMA. The support levels for Nifty areNOTE - * - Source – BSE & NSE placed at 5571, 5447 and 5258. The Nifty faces resistance at 5747, 5816, 5885, 5966 and 6158 levels.Sanjay Bhatia (AVP – Technical Research), Email Yahoo Id: Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  2. 2. Jaldi 5 (Short Term Technical Ideas for 5 Trading Days) Stop Initiation Stop Loss Stock Close Action Price Loss * (%) Target Target (%) RemarksAmbuja Cement Fut 186.55 Sell Below 185 187.75 1.49 179 3.24 TGT of 155 Achieved given Sell @ 162 onAurobindo Pharma Fut 157.60 Sell Below 157 162.00 3.18 146 7.01 04/03/13DLF Fut 252.20 Sell Below 251 258.25 2.89 235 6.37* 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 18878 18856 18952 19027 19197 18782 18686 18516S&P CNX NIFTY 5699 5691 5719 5740 5788 5671 5643 5595NIFTY MAR 13 FUT. 5717 5691 5704 5691 5691 5704 5691 5691 Stocks To Watch Out TodayBEL, Bharat Forge, Cipla, Colgate, Fortis, Lupin, VideoconAban, ACC, Ambuja Cement, Aurobindo Pharma, Bonbay Dying, Cairn India, Cummins, Delta Corp; DLF, Educomp, Escorts,Essar Oil, FT, Hindalco, IDFC, IFCI, IVRCL, JSW Steel, Karnataka Bank, NHPC, PFC, PNB, Praj, PTC, SAIL, Sesa Goa,Siemens, Sobha, Sterlite, Sun Pharma, Tata Chem; Tata Steel Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  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