Keynote technicals daily report for 260213


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Keynote technicals daily report for 260213

  1. 1. Daily Technical Outlook 26th February 2013 Indices * Close % Chg. Markets negative but over sold BSE SENSEX 19331.69 0.08 S&P CNX NIFTY 5854.75 0.08 Mirroring the inconclusive global market cues the domestic markets witnessed a flat opening. Selling pressure continued NIFTY FEB 13 FUT. 5857.80 0.07 as markets traded with losses. Carnage was especially India VIX 16.73 -0.35 witnessed in the mid-cap stocks which were in lot of pressure S&P CNX NIFTY Technical Levels due to margin funding. The markets managed to recover in Level 1 Level 2 Level 3 the afternoon session on back of short covering and selectiveSupport 5816 5747 5571 buying support. However, the markets failed to sustain higher and moved lower today. The markets ended the day on a flatResistance 5885 5966 6158 note to close near the lows for the day. The top losers for the Simple Moving Averages S&P CNX NIFTY day were Ranbaxy, Powergrid, Infosys Tech; Tata Motors,50 Day SMA 5960.91 ◄Negative BHEL, Hero Motocorp, HCL Tech; Lupin, TCS and SBI.100 Day SMA 5843.06 Technically, the market breadth remained weak amidst200 Day SMA 5533.95 higher volumes, which is a negative sign for the markets. Market Breadth * BSE NSE The prevailing negative technical conditions continued to weigh on the market sentiment. The Stochastic, KST,Advances 897 280 RSI and MACD all are still placed below their respectiveDeclines 1279 760 averages. The Nifty remains placed below its 50-daySame 768 34 SMA, which does not augur well for the markets. TheTotal 2944 1074 negative divergence pattern formed on the Nifty stillA/D Ratio 0.70 : 1 0.37 : 1 holds good and remains a sign of worry for the markets. Moreover, the KST and MACD are placed in the negative Volume (Lacs Shares) * territory, which warns of impending selling pressure. 25/02/13 22/02/13 % Chg. These negative technical conditions would lead toBSE 2152 1947 10.53 further selling pressure. However, the prevailing positiveNSE 6444 5646 14.12 technical conditions still hold good. The Stochastic hasTotal 8596 7593 13.20 moved in the over sold zone. The Nifty remains placed above its 100-day SMA and 200-day SMA. The Nifty’s 50- Turnover ( ` Crores) * day SMA remains placed above Nifty’s 100-day SMA and 25/02/13 22/02/13 % Chg. 200-day SMA, the later being called the ‘Golden CrossBSE 1931.33 1724.65 11.98 breakout’. These positive conditions would lead toNSE 9647.43 9919.00 -2.74 intermediate bouts of short covering and selectiveNSE F&O 153103.52 120497.09 27.06 buying support at lower levels. The –DI line is placedTotal 164682.28 132140.74 24.63 above the +DI line and is also placed above the 31 level but has come off its recent highs, indicating sellers are F&O Contracts Traded (NSE) * covering shorts regularly. The market sentiment remains 25/02/13 22/02/13 % Chg. cautious ahead of the Union Budget. We hold our viewIndex Fut. 396581 244145 62.44 that upsides should be used to add to short positions until Nifty moves and closes above the 50-day SMA.Stock Fut. 721216 532180 35.52 However, stock specific action will be witnessed. In theIndex Opt. 3719333 2933731 26.78 meanwhile the markets would take cues from the newsStock Opt. 289590 306231 -5.43 flow on Union Budget, global markets, Rupee and theTotal 5126720 4016287 19.15 crude prices. The support levels for Nifty are placed at 5816,NOTE - * - Source – BSE & NSE 5747 and 5571. The Nifty faces resistance at 5885, 5966, 6158 and 6313 levels.Sanjay Bhatia (AVP – Technical Research), Email Yahoo Id: Keynote Capitals Ltd. The Ruby, 9th 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 Stock Close Action Price Loss * (%) Target Target (%) Remarks TGT of 80 Achieved given Sell @ 84.25 onArvind Fut 80.05 Sell Below 79.50 81.55 2.58 75 5.66 22/03/13AB Nuvo 1084.25 Buy Above 1087.00 1072.00 1.38 1120 3.04Ambuja Cement 200.35 Buy Above 200.75 197.90 1.42 207 3.11* 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 19332 19327 19416 19500 19673 19243 19154 18981S&P CNX NIFTY 5855 5853 5880 5906 5960 5827 5799 5746NIFTY FEB 13 FUT. 5858 5834 5846 5834 5834 5846 5834 5834 Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  3. 3. Stocks To Watch Out TodayAB Nuvo, Ambuja Cements, Bajaja Auto, Hero Motocorp, India Cement, Infosys Tech; LIC Hsg; Lupin, Mphasis, Powergrid,Ranbaxy, Sun Pharma, TCS, WiproAban, Allahabad Bank, Andhra Bank, Aurobindo Pharma, Balrampur Chini, Century Textiles, Coal India, Colgate, CromptonGreaves, Cummins, Delta Corp, Dena Bank, Dish TV, Escorts, GMDC, Godrej Inds, GSPL, HDFC Bank, HDIL, HOECL, HUL,Indian Hotels, IOB, IOC, Jet Airways, Jindal Saw, JP Associates, JSW Enwrgy, L&T, McLeod Russel, NCC, NTPC, OBC,Pantaloon Retail, Praj, Punj Lloyd, Tata Comm; Tata Global, WelcorpNOTE:TECHNICAL ANALYSIS ABBREVATIONSSMA – Simple Moving AverageEMA – Exponential Moving AverageWMA – Weighted Moving Average 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. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322