1. Daily Technical Outlook
9th February 2012
Indices * Close % Chg. Mirroring the positive global market cues, the domestic
BSE SENSEX 17707.32 0.48 markets witnessed a positive opening. The over all trend
S&P CNX NIFTY 5368.15 0.62 remained sluggish and range bound as Nifty continued to flirt
NIFTY FEB. FUT. 5388.50 0.62 with the 5400 resistance level. Increased pressure was
India VIX 24.27 -2.56 witnessed in the afternoon session, which resulted in a sharp
fall. However, the markets managed a bounce back towards
S&P CNX NIFTY Technical Levels the last hour of trade and managed to hold on to the gains.
Level 1 Level 2 Level 3 The markets ended the day with modest gains to close near
Support 5327 5161 5037 the highs for the day. The top gainers for the day were Rel.
Resistance 5400 5681 5728 Infra, Hindalco, JP Associates, GAIL, DLF, Rel. Power, Hero
Motocorp, Sesa Goa, ACC and Rel. Comm.
Moving Averages S&P CNX NIFTY
50 Day SMA 4907.96 Technically, the market breadth remained positive amidst
◄Negative
100 Day SMA 4967.60 higher volumes, which is a positive sign for the markets.
200 Day SMA 5182.98 ◄Positive
The global market set of cues are negative. The domestic
markets are likely to witness a subdue opening. The 5400
Volume (Lacs Shares) * level continues to remain a big barrier for the markets.
08/02/12 07/02/12 % Chg. The Nifty once again struggled to sustain above it.
BSE 3127 3366 -7.10 However, the Nifty remains placed above its 50-day, 100-
NSE 9366 9008 3.97
day and 200-day SMA, which is a positive sign for the
markets. The MACD, RSI and KST are also placed above
Total 12493 12374 0.96
their respective averages, which would help in fueling
Turnover ( ` Crores) * buying support. The KST and MACD are also placed in
08/02/12 07/02/12 % Chg.
the positive territory. Nifty remains placed above its
April’2011 descending trend line, which augurs well for
BSE 3630.37 3452.77 5.14
the markets. The -DI line is moving lower. However, the
NSE 17128.15 14216.99 20.48
ADX line and +DI line are placed above the 30 level,
NSE F&O 122040.93 119562.86 2.07 indicating buyers are gaining strength. However, a few
Total 142799.45 137232.62 4.06 technical negatives continue to prevail. The Stochastic
remains placed below its average. More so the
F&O Contracts Traded (NSE) *
Stochastic and RSI are also placed in the over bought
08/02/12 07/02/12 % Chg.
zone. The 50-day SMA continues to remain placed below
Index Fut. 569388 507643 12.16 the 100-day SMA. All these conditions would lead to
Stock Fut. 633042 626773 1.00 regular bouts of profit taking and selling pressure,
Index Opt. 3131803 3120783 0.35 especially at higher levels. The market sentiment remains
Stock Opt. 192079 167959 14.36 cautious as markets remains placed in the over bought
Total 4526312 4423158 0.79 zone. Now, it is important that the markets witness follow
up buying support at regular intervals for the Nifty to
Market Breadth (NSE) * move and sustain above the 5400 resistance level.
Advances 952 Intermediate bouts of profit taking and selling pressure
Declines 542 are likely to be witnessed. In the meanwhile the markets
Same 70 would take cues from the earnings season, the global
Total 1564
markets and the crude prices. The support levels for Nifty
are placed at 5327, 5161, 5037 and 4987. The Nifty faces
A/D Ratio 1.76 : 1
resistance at the 5400, 5681 and 5728 levels.
NOTE - *- Source – BSE & NSE
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
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4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
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2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Bajaj Holdings 738.65 Buy Above 742.00 724.90 2.30 780 5.12
Cairn 372.75 Buy Above 377.00 366.50 2.79 400 6.10
Yes Bank 333.45 Sell Below 330.00 339.00 2.73 310 6.06
* 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 S3
BSE SENSEX 17707 17699 17818 17928 18158 17588 17469 17239
S&P CNX NIFTY 5368 5363 5402 5435 5507 5330 5292 5220
NIFTY FEB. FUT. 5389 5386 5428 5467 5548 5346 5304 5223
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