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Keynote technicals daily report for 110412


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Keynote technicals daily report for 110412

  1. 1. Daily Technical Outlook 11th April 2012 Indices * Close % Chg. The domestic markets witnessed a flat opening. The overall BSE SENSEX 17243.84 0.13 trend remained range bound as markets moved in a narrow S&P CNX NIFTY 5243.60 0.18 range for the better part of the day. Buying support picked up NIFTY APRIL FUT. 5266.15 0.25 in the afternoon trade as Nifty managed to sustain above the India VIX 21.92 -1.83 5250 level. The overall trend remained range bound after the initial selling pressure. The markets ended the day flat but S&P CNX NIFTY Technical Levels closed near the highs for the day. The top gainers for the day Level 1 Level 2 Level 3 were Tata Power, Rel. Comm., Tata Motors, Kotak Bank,Support 5161 5037 4955 HUL, ITC, SBI, Siemens, M&M, Rel. Power, wipro and CairnResistance 5400 5681 5728 India. Moving Averages S&P CNX NIFTY Technically, the market breadth remained negative50 Day SMA 5334.34 amidst higher volumes, indicating buying concentrated100 Day SMA 5079.88 in index heavyweight stocks. The global market cues are200 Day SMA 5146.26 ◄ Crucial subdue. The domestic markets are likely to witness a negative opening. The markets are displaying a range Volume (Lacs Shares) * bound trend as the ADX line, +DI line and –DI line 10/04/12 09/04/12 % Chg. continue to move sideways. The prevailing technicalBSE 2542 2542 0.00 negatives continue to hold good and are likely to capNSE 6509 5094 27.78 upside gains. The Stochastic, RSI and KST are placed below their respective average, which would lead toTotal 9051 7636 18.53 selling pressure, especially at higher levels. Moreover, Turnover ( ` Crores) * the Nifty remains placed below its 50-day SMA, which is 10/04/12 09/04/12 % Chg. a short term negative. However, a few positives continue to hold good and would prompt short covering andBSE 2126.50 2126.50 0.00 selective buying support at lower levels. The MACD isNSE 10496.00 7673.14 36.79 placed above its average. The Nifty continues to sustainNSE F&O 82561.13 78269.85 5.48 above its long-term moving average the 200-day SMA.Total 95183.63 88069.49 8.08 Moreover, the Nifty’s 50-day SMA remains placed above Nifty’s 100-day SMA and 200-day SMA, the later being F&O Contracts Traded (NSE) * called the “Golden Cross” breakout. These conditions 10/04/12 09/04/12 % Chg. would help in witnessing buying support at lower levels.Index Fut. 373701 365925 2.13 The ADX line, +DI line and –DI line continue to moveStock Fut. 427028 329753 29.50 sideways indicating that markets would continue toIndex Opt. 2184105 2124521 2.80 remain range bound. The market sentiment howeverStock Opt. 130998 108556 20.67 remains cautious ahead of the forthcoming Q4 resultsTotal 3115832 2928755 2.80 and the impending RBI’s monetary policy meet next week. Now, it is important that the markets witness Market Breadth (NSE) * buying support at lower levels for the Nifty to moveAdvances 665 higher and test the crucial 5400 resistance level. In theDeclines 783 meanwhile the markets would take cues from theSame 94 forthcoming Q4 results, the global markets and the crudeTotal 1542 prices. The support levels for Nifty are placed at 5161, 5037 and 4955. The Nifty faces resistance at the 5400, 5681, 5728A/D Ratio 0.85 : 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 (%) RemarksACC 1300.05 Sell Below 1295 1321.00 2.01 1237 4.48Ashok Leyland 29.30 Sell Below 29 30.50 5.17 26 10.34BHEL 255.85 Sell Below 254 260.50 2.56 240 5.51GMDC 187.15 Sell Below 185 188.25 1.76 178 3.78* 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 17244 17218 17300 17357 17496 17162 17079 16940S&P CNX NIFTY 5244 5237 5262 5281 5325 5218 5193 5149NIFTY APRIL FUT. 5266 5257 5287 5308 5360 5236 5205 5154 Stocks to watch out for todayApollo Tyre, Bata, Bosch, Escorts, HUL, ITC, Lupin, Welcorp, Wipro, BEML, BPCL, Dish TV, Essar Oil, Exide,GAIL, GSPL, Guj. Flouro; HCL Tech; Hindalco, HPCL, ICICI Bank, L&T, Maruti, PFC, PNB, Praj, PNB, Rel. Infra,SAIL, Sterlite, Sun TV, Tata Chemicals, Tata Steel, TCS 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