1. Daily Technical Outlook
17th February 2012
Indices * Close % Chg. Mirroring the weak global market cues; the domestic markets
BSE SENSEX 18153.99 -0.27 witnessed a negative opening. It moved lower on back of
S&P CNX NIFTY 5521.95 -0.18 profit taking and selling pressure. However, the markets
NIFTY FEB. FUT. 5537.80 1.79 managed to bounce back from the lower levels on back of
India VIX 23.33 5.56 buying support in the last hour of trade. The markets ended
the day with modest losses to close near the highs for the
S&P CNX NIFTY Technical Levels day. The top losers for the day were Coal India, Hindalco,
Level 1 Level 2 Level 3 Tata Motors, Sterlite, Tata Steel, GAIL, Reliance, Sun
Support 5400 5327 5161 Pharma, Rel. Comm; and ACC
Resistance 5681 5728 5885
Technically, the market breadth remained positive amidst
Moving Averages S&P CNX NIFTY lower volumes. The global market set of cues are largely
50 Day SMA 4963.76 positive. The domestic markets are likely to witness a
◄Negative
100 Day SMA 4990.25 firm to positive opening. The Nifty has sustained above
200 Day SMA 5172.19 ◄Positive
the 5400 level, which is a positive sign. The Stochastic,
MACD and RSI are placed above their respective
Volume (Lacs Shares) * averages, which would lead to regular bouts of buying
16/02/12 15/02/12 % Chg. support. More over the KST and MACD are placed in the
BSE 3793 4316 -12.12 positive territory, which augurs well for the markets. The
NSE 12043 13139 -8.34
Nifty remains placed above its 50-day, 100-day and 200-
day SMA, which is a positive sign for the markets. More
Total 15836 17455 -9.28
so Nifty remains placed above its April’2011 descending
Turnover ( ` Crores) * trend line. The -DI line is moving lower. However, the
16/02/12 15/02/12 % Chg.
ADX line and +DI line are placed above the 30 level,
indicating buyers have an upper hand. All these positive
BSE 3619.98 4139.38 -12.55
conditions would help in fueling buying support at
NSE 16903.89 18737.39 -9.79
regular intervals. However, a few prevailing technical
NSE F&O 133022.73 171858.87 -22.60 negatives are likely to weigh on market sentiment. The
Total 153546.60 194735.64 -21.15 MACD is placed below its averages. The RSI, KST and
Stochastic and MACD all these oscillators are placed in
F&O Contracts Traded (NSE) *
the over bought zone. The 50-day SMA continues to
16/02/12 15/02/12 % Chg.
remain placed below the 100-day SMA. All these
Index Fut. 460135 545325 -15.62 conditions would lead to regular bouts of profit taking
Stock Fut. 871622 840598 3.69 and selling pressure. The market sentiment remains
Index Opt. 3132099 4483921 -30.15 cautious as markets are placed in the over bought zone.
Stock Opt. 271745 276977 -1.89 Now, it is important that the markets witness follow up
Total 4735601 6146821 -22.08 buying support at regular intervals for the Nifty to test
the 5681 resistance level. Intermediate bouts of profit
Market Breadth (NSE) * taking and selling pressure are likely to be witnessed. In
Advances 855 the meanwhile the markets would take cues from the
Declines 648 earnings season, the global markets and the crude
Same 62 prices. The support levels for Nifty are placed at 5400, 5327,
Total 1565
5161 and 5037. The Nifty faces resistance at the 5681, 5728
and 5885 levels.
A/D Ratio 1.32 : 1
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
Ashok Leyland 30.00 Buy Above 30.50 28.50 6.56 35 13.11
TGT of 1780
Achieved
given Buy @
1709 on
Bajaj Auto 1811.60 Buy Above 1815.00 1777.00 2.09 1900 4.68 10/02/12
BGR Energy 312.40 Buy Above 315.00 302.00 4.13 344 9.21
* 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 18154 18127 18210 18266 18406 18071 17987 17848
S&P CNX NIFTY 5522 5512 5541 5560 5608 5493 5465 5417
NIFTY FEB. FUT. 5538 5529 5556 5574 5619 5511 5483 5438
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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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