1. Daily Technical Outlook
14th February 2012
Indices * Close % Chg. Mirroring the divergent global market cues, the domestic
BSE SENSEX 17772.84 0.14 markets witnessed a flat opening. The overall trend remained
S&P CNX NIFTY 5390.20 0.16 range bound as markets struggled to sustain above the 5400
NIFTY FEB. FUT. 5418.00 0.38 resistance level. Selling pressure was being witnessed at
India VIX 23.71 -0.50 higher levels, which led to a sharp fall. However, the markets
managed a smart recovery in the afternoon trade and moved
S&P CNX NIFTY Technical Levels above the crucial 5400 resistance level. The markets ended
Level 1 Level 2 Level 3 the day with marginal gains to close near the highs for the
Support 5327 5161 5037 day. The top gainers for the day were Rel. Infra, Sesa Goa,
Resistance 5400 5681 5728 Kotak Bank, Powergrid, Tata Steel, Hero Motocorp, Sun
Pharma, Rel. Power, M&M and Hindalco.
Moving Averages S&P CNX NIFTY
50 Day SMA 4935.27 Technically, the market breadth remained neutral amidst
◄Negative
100 Day SMA 4977.52 lower volumes. The global market set of cues are
200 Day SMA 5176.02 ◄Positive
divergent. The domestic markets are likely to witness a
flat opening. The Nifty continued to flirt with the 5400 as
Volume (Lacs Shares) * it struggled to sustain above it. A few prevailing technical
13/02/12 10/02/12 % Chg. negatives continue to weigh on market sentiment. The
BSE 2771 3458 -19.87 KST, Stochastic and RSI are placed below their
NSE 7527 9686 -22.29
respective averages and are also placed in the over
bought zone. The 50-day SMA continues to remain
Total 10298 13144 -21.66
placed below the 100-day SMA. All these conditions
Turnover ( ` Crores) * would lead to regular bouts of profit taking and selling
13/02/12 10/02/12 % Chg.
pressure, especially at higher levels. However, buying
support is expected to be witnessed at lower levels as
BSE 3111.75 3632.95 -14.35
the Nifty remains placed above its 50-day, 100-day and
NSE 12802.49 14908.24 -14.12
200-day SMA, which is a positive sign for the markets.
NSE F&O 113571.71 137068.99 -17.14 The MACD remains placed above its averages, which
Total 129485.95 155610.18 -16.79 would help in fueling buying support. The KST and
MACD are placed in the positive territory. Nifty remains
F&O Contracts Traded (NSE) *
placed above its April’2011 descending trend line, which
13/02/12 10/02/12 % Chg.
augurs well for the markets. The -DI line is moving lower.
Index Fut. 424352 596964 -28.91 However, the ADX line and +DI line are placed above the
Stock Fut. 619884 652701 -5.03 30 level, indicating buyers are gaining strength. The
Index Opt. 2900105 3580474 -19.00 market sentiment remains cautious as markets are
Stock Opt. 244946 217585 12.57 placed in the over bought zone. Now, it is important that
Total 4189287 5047724 -12.94 the markets witness follow up buying support at regular
intervals for the Nifty to move and sustain above the
Market Breadth (NSE) * 5400 resistance level. Intermediate bouts of profit taking
Advances 776 and selling pressure are likely to be witnessed. In the
Declines 724 meanwhile the markets would take cues from the
Same 60 earnings season, the global markets and the crude
Total 1560
prices. The support levels for Nifty are placed at 5327, 5161,
5037 and 4987. The Nifty faces resistance at the 5400, 5681,
A/D Ratio 1.07 : 1
5728 and 5885 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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2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Financial Tech. 832.80 Buy Above 836.00 807.00 3.47 900 7.66
IFCI 40.85 Buy Above 41.25 39.10 5.21 46 11.52
McLeod Russel 211.75 Buy Above 214.00 205.90 3.79 232 8.41
* 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 17773 17763 17860 17947 18130 17676 17579 17395
S&P CNX NIFTY 5390 5388 5424 5457 5527 5354 5318 5248
NIFTY FEB. FUT. 5418 5410 5452 5486 5562 5376 5335 5259
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