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Keynote technicals daily report for 050712


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Keynote technicals daily report for 050712

  1. 1. Daily Technical Outlook 5th July 2012 Indices * Close % Chg. BSE SENSEX 17462.81 0.21 Consolidation continues S&P CNX NIFTY 5302.55 0.28 Mirroring the positive global market cues the domestic NIFTY JULY FUT. 5322.65 0.32 markets witnessed a firm opening. However, the Nifty India VIX 18.27 -1.56 continued to struggle above the 5300 level as follow up S&P CNX NIFTY Technical Levels buying support remained absent. Selling pressure was witnessed which dragged the markets below the 5300 level Level 1 Level 2 Level 3 but the markets managed to come off the lows in theSupport 5250 5114 5081 afternoon trade. The markets ended the day with marginalResistance 5333 5379 5500 gains to close near the gains for the day. The top gainers for Moving Averages S&P CNX NIFTY the day were Sesa Goa, Sterlite, Jindal Steel, JP Associates,50 Day SMA 5050.55 SAIL, Maruti, PNB, Tata Steel, SBI and Bharti Airtel.100 Day SMA 5188.38 Technically, the market breadth remained positive amidst200 Day SMA 5081.16 ◄Critical higher volumes, which is a positive sign for the markets. The global market cues are cautious ahead of ECB and Market Breadth * BSE NSE Bank of England meet. The domestic markets are likelyAdvances 1771 956 to witness a flat opening. The prevailing technicalDeclines 1121 525 positives continue to hold good but follow up buyingSame 123 72 support remains elusive. The Stochastic, MACD, RSI andTotal 3015 1553 KST all are placed above their respective averages. TheA/D Ratio 1.58 : 1 1.82 : 1 MACD and KST are also placed in the positive territory, which augurs well for the markets. The Nifty remains Volume (Lacs Shares) * placed above the 50-day SMA, 100-day SMA and 200-day 04/07/12 03/07/12 % Chg. SMA. The +DI continues to move higher along with theBSE 2506 2555 -1.92 ADX line and –DI line is moving sideways indicatingNSE 7447 7509 -0.83 buyers are gaining strength. These positive conditionsTotal 9953 10064 -1.10 would lead to further buying support. However, a few technical negatives hold good and would weigh on the Turnover ( ` Crores) * market sentiment. The Stochastic has moved in the over 04/07/12 03/07/12 % Chg. bought zone on the daily charts, while the Nifty’s 50-dayBSE 2078.79 2062.65 0.78 SMA remains placed below its 100-day SMA and 200-dayNSE 10706.27 10363.91 3.30 SMA. These negative conditions would result in regular bouts of profit taking. The market sentiment remainsNSE F&O 71568.41 84622.66 -15.43 positive but tentative. It is now important that theTotal 84353.47 97049.22 -13.08 markets witness follow up buying support at higher F&O Contracts Traded (NSE) * levels, which so far remains elusive. Intermediate bouts 03/07/12 03/07/12 % Chg. of volatility would be witnessed as Nifty struggles to sustain above the 5300 level. In the meanwhile theIndex Fut. 306197 353444 -13.37 markets would take cues from the forthcoming earningsStock Fut. 452892 458963 -1.32 season, Rupee, global markets and the crude prices. TheIndex Opt. 1772934 2218173 -20.07 support levels for Nifty are placed at 5250, 5114, 5081, 4950Stock Opt. 146436 133233 9.91 and 4841. The Nifty faces resistance at the 5333, 5379 andTotal 2678459 3163813 -13.66 5500 levels.NOTE - * - Source – BSE & NSESanjay Bhatia (AVP – Technical Research), Email Yahoo Id: Keynote Capitals Ltd. th The Ruby, 9 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 Target Stock Close Action Price Loss * (%) Target (%) RemarksBajaj Auto 1583.20 Buy Above 1591.00 1564.00 1.70 1650 3.71Bajaj Holdings 825.75 Buy Above 829.50 810.00 2.35 863 4.04JSW Steel 726.20 Buy Above 730.00 711.50 2.53 771 5.62* 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 17463 17453 17534 17604 17756 17382 17302 17150S&P CNX NIFTY 5303 5298 5322 5342 5387 5278 5253 5209NIFTY JULY FUT. 5323 5314 5341 5358 5403 5296 5269 5225 Keynote Capitals Ltd. th The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  3. 3. Stocks to watch out todayAPIL, Arvind, Bajaj Auto, Bajaj Holdings, Bharti Airtel, Bhushan Steel, Dish TV, DLF, Hindalco, Hind. Zinc, Idea, Indian Bank,Indusind Bank, JSW Energy, JSW Ispat, JSW Steel, Maruti, Mcleod Russel, Petronet, PNB, Praj, Punj Lloyd, Rel. Capital, Rel.Infra, SAIL, Sintex, Sobha, Sterlite, Tata Comm; TTK Prestige, Videocon, VoltasApollo Tyre, Hexaware, HUL, India Cement, ITC, Wipro 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. th The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322