Keynote technicals daily report for 280213


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Keynote technicals daily report for 280213

  1. 1. Daily Technical Outlook 28th February 2013 Indices * Close % Chg. All eyes on FM BSE SENSEX 19152.41 0.72 S&P CNX NIFTY 5796.90 0.62 Mirroring the inconclusive global market cues the domestic markets witnessed a flat opening. Selling pressure continued NIFTY FEB 13 FUT. 5797.90 0.54 as markets traded lower. However, the markets managed to India VIX 16.23 -6.50 bounce back from lower levels on back of short covering and S&P CNX NIFTY Technical Levels selective buying support. The markets came off the lows for Level 1 Level 2 Level 3 the day and showed no signs of weakness. Stock specificSupport 5747 5571 5538 action was also witnessed. The markets ended the day with modest gains to close near the highs for the day. The topResistance 5816 5885 5966 gainers for the day were JP Associates, M&M, DLF, Bharti Simple Moving Averages S&P CNX NIFTY Airtel, L&T, IDFC, ONGC, Bajaj Auto, BHEL and Axis Bank.50 Day SMA 5956.98 ◄Negative Technically, the market breadth remained positive100 Day SMA 5843.45 ◄Negative amidst higher volumes, which augurs well for the200 Day SMA 5542.56 markets. The prevailing positive technical conditions Market Breadth * BSE NSE helped the markets witness short covering and selective buying support. These continue to hold good. TheAdvances 1441 627 Stochastic has moved above it s average. More so theDeclines 1359 474 Stochastic and RSI are placed in the over sold zone. TheSame 130 37 Nifty remains placed above its 200-day SMA. The Nifty’sTotal 2930 1138 50-day SMA remains placed above Nifty’s 100-day SMAA/D Ratio 1.06 : 1 1.32 : 1 and 200-day SMA, the later being called the ‘Golden Cross breakout’. These positive conditions would lead to Volume (Lacs Shares) * intermediate bouts of short covering and selective 27/02/13 26/02/13 % Chg. buying support at lower levels. However, the prevailingBSE 2464 2250 9.51 negative technical conditions continue to hold good. TheNSE 7667 6355 20.65 KST, RSI and MACD all are still placed below theirTotal 10131 8605 17.74 respective averages. The Nifty remains placed below its 50-day and 100-day SMA, which does not augur well for Turnover ( ` Crores) * the markets. The negative divergence pattern formed on 27/02/13 26/02/13 % Chg. the Nifty still holds good and remains a sign of worry forBSE 2106.87 1959.90 7.50 the markets. Moreover, the KST and MACD are placed inNSE 11915.07 10469.34 13.81 the negative territory, which warns of impending sellingNSE F&O 199301.47 199541.55 -0.12 pressure. These negative technical conditions wouldTotal 213323.41 211970.79 0.64 lead to selling pressure, especially at higher levels. The –DI line is placed above the +DI line and is also placed F&O Contracts Traded (NSE) * above the 33 level but has come off its recent highs, 27/02/13 26/02/13 % Chg. indicating sellers are covering shorts at lower levels. TheIndex Fut. 443275 607790 -27.07 market sentiment remains cautious ahead of the Union Budget. We hold our view that upsides should be used toStock Fut. 1016377 886818 14.61 add to short positions until Nifty moves and closesIndex Opt. 4970709 4881773 1.82 above the 50-day SMA. In the meanwhile the marketsStock Opt. 327531 350063 -6.44 would take cues from the Union Budget, global markets,Total 6757892 6726444 0.99 Rupee and the crude prices. The support levels for Nifty areNOTE - * - Source – BSE & NSE placed at 5747, 5571 and 5538. The Nifty faces resistance at 5816, 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 (%) RemarksAurobindo Pharma Fut 173.00 Sell Below 172.00 177.50 3.20 160 6.98Cairn Fut 303.80 Sell Below 302.00 307.00 1.66 291 3.64Century Textiles Fut 336.60 Sell Below 335.00 342.75 2.31 318 5.07* 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 19152 19121 19244 19336 19551 19029 18906 18691S&P CNX NIFTY 5797 5788 5827 5857 5925 5758 5720 5651NIFTY FEB 13 FUT. 5798 5765 5782 5765 5765 5782 5765 5765 Stocks To Watch Out TodayAdani Enterprises, Crompton Greaves, FBI, GMR Infra, GSPL, Hind. Zinc, IDEA, IDFC, India Cement, Jet Airways, JPAssociates, JSW Steel, M&M, NTPC, OBC, PTC, Tata Steel, Titan, Union BankAban, Aurobindo Pharma, Bajaj Holdings, Century Textiles, Coal India, Colgate, Delta Corp; Dena Bank, Divis Labs,Educomp, FT, GAIL, Godrej Inds; Guj. Flourochem, Havells, HCC, HCL Tech; HDFC Bank, Hero Motocorp; Hindalco, HOECL,IDBI, Jindal Saw, Jubilant Food, Kotak Bank, Orchid Chemicals, Pantaloon Retail, Powergrid, Ranbaxy, Raymond, Rel.Capital, Siemens, Sun Pharma, Tata Motors, Tata Power, TVS Motors, Welcorp Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  3. 3. NOTE: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