1. Daily Technical Outlook
27th January 2012
Indices * Close % Chg. Mirroring the positive set of Asian market cues, the domestic
BSE SENSEX 17077.18 0.48 markets witnessed a firm opening. Steady buying support
S&P CNX NIFTY 5158.30 0.60 was witnessed as markets moved higher. The markets
NIFTY FEB. FUT. 5181.55 0.65 showed no signs of weakness though occasional bouts of
India VIX 21.02 -1.86 profit taking and selling pressure were witnessed due to
derivative segment expiry. The markets ended the day with
S&P CNX NIFTY Technical Levels moderate gains to close near the highs for the day. The top
Level 1 Level 2 Level 3 gainers for the day were Rel. Infra, JP Associates, Tata
Support 5161 5037 4987 Motors, Sesa Goa, BPCL, SAIL, Coal India, Axis Bank, Tata
Resistance 5225 5361 5400 Steel and Sterlite.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained positive amidst
50 Day SMA 4825.42 higher volumes. The global market set of cues are
◄Negative
100 Day SMA 4947.32 divergent. The domestic markets are likely to witness a
200 Day SMA 5208.32 ◄Negative
flat opening. The Nifty remains placed above its 50-day
SMA and 100-day SMA, which are short term positives.
Volume (Lacs Shares) * Moreover, the MACD, RSI, and KST are placed above
25/01/12 24/01/12 % Chg. their respective averages, which would help triggering
BSE 3021 3705 -18.46 buying support. The KST and MACD are also placed in
NSE 9452 8749 8.04
the positive territory. The Nifty remains placed above its
November 2010 descending trend line, which is a
Total 12473 12454 0.15
positive sign for the markets. However, a few technical
Turnover ( ` Crores) * negatives continue to prevail and are likely to cap the
25/01/12 24/01/12 % Chg.
upside gains. The Stochastic is placed below its average
and is still placed in the over bought zone. Moreover, the
BSE 2794.96 4673.08 -40.19
RSI is placed in the over bought zone. Both these
NSE 15294.61 14225.83 7.51
conditions would lead to intermediate bouts of profit
NSE F&O 191776.53 205305.78 -6.59 taking and selling pressure. The Nifty continues to trade
Total 209866.10 224204.69 -6.40 below its 200-day SMA. The 50-day SMA is also placed
below the 100-day SMA. All these conditions would lead
F&O Contracts Traded (NSE) *
to selling pressure especially at higher levels. The ADX
25/01/12 24/01/12 % Chg.
line, -DI line are moving sideways. However, the +DI line
Index Fut. 720412 858104 -16.05 is placed at 39.32 level indicating buyers are gaining
Stock Fut. 1226773 1327062 -7.56 strength. The markets are poised decisively. The Nifty is
Index Opt. 5257220 5622602 -6.50 on the threshold of testing its 200-day SMA. Now, it is
Stock Opt. 241010 295903 -18.55 important that the markets witness follow up buying
Total 7445415 8103671 -5.19 support for the Nifty to move further and successfully
test this resistance level. Intermediate bouts of profit
Market Breadth (NSE) * taking and selling pressure are likely to be witnessed. In
Advances 983 the meanwhile the markets would take cues from the
Declines 502 earnings season, the global markets and the crude
Same 74 prices. The support levels for Nifty are placed at 5161, 5037,
Total 1559
4987, 4747 and 4563. The Nifty faces resistance at the 5225,
5361 and 5400 levels.
A/D Ratio 1.96 : 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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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
TGT of 800
Achieved
given Buy @
760 on
ABB 799.60 Buy Above 805.00 100.00 850 5.59 24/01/12
TGT of 1055
Achieved
given Buy @
1015 on
Axis Bank 1063.45 Buy Above 1066.00 100.00 1130 6.00 23/01/12
Guj. Flourochem. 494.55 Buy Above 498.00 100.00 575 15.46
* 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 17077 17075 17133 17188 17302 17019 16961 16848
S&P CNX NIFTY 5158 5154 5178 5198 5242 5134 5110 5066
NIFTY FEB. FUT. 5182 5176 5204 5226 5276 5154 5126 5076
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