The domestic markets opened higher but failed to sustain gains and closed lower, reflecting weakness persisting in the market. The overall trend remained range-bound and lackluster. Key indices like the BSE Sensex and NSE Nifty ended the day with modest losses, closing near the day's lows. On the technical front, indicators like the RSI, KST and MACD remained below their averages, signaling impending selling pressure. The markets are likely to see further weakness unless buying support emerges to push the Nifty back above its 50-day simple moving average of 5,959.

1. Daily Technical Outlook
12th February 2013
Indices * Close % Chg. Weakness persists
BSE SENSEX 19460.57 -0.12
S&P CNX NIFTY 5897.85 -0.10
Mirroring the positive global market cues the domestic
markets witnessed a higher opening. However, the markets
NIFTY FEB 13 FUT. 5921.35 -0.01
failed to sustain higher on back of selling pressure and
India VIX 15.65 3.23
moved lower. The over all trend remained range bound and
S&P CNX NIFTY Technical Levels lackluster. Though, markets came off the lows for the day it
Level 1 Level 2 Level 3 failed to sustain higher due to lack of follow up buying
Support 5885 5816 5747
support and once again slipped below the 5900 level by the
end of the day. The markets ended the day with modest
Resistance 5966 6158 6313
losses to close near the lows for the day. The top losers for
Simple Moving Averages S&P CNX NIFTY the day were ACC, Jindal Steel, IDFC, Maruti, ONGC, Bharti
50 Day SMA 5959.86 ◄Negative Airtel, HCL Tech; L&T, HDFC, BHEL.
100 Day SMA 5818.62
Technically, the market breadth remained negative
200 Day SMA 5495.14
amidst lower volumes. The prevailing negative technical
Market Breadth * BSE NSE conditions continued to weigh on the market sentiment
Advances 938 428
leading to selling pressure. The Nifty remains placed
Declines 1061 642
below its 50-day SMA. The negative divergence pattern
formed on the Nifty still holds good and remains a sign
Same 978 33
of worry for the markets. The RSI, KST and MACD all are
Total 2977 1103
placed below their respective averages. Moreover, the
A/D Ratio 0.88 : 1 0.68 : 1 KST and MACD are placed in the negative territory,
Volume (Lacs Shares) * which warns of impending selling pressure. These
negative technical conditions would lead to further
11/02/13 08/02/13 % Chg.
selling pressure. However, the prevailing positive
BSE 1937 2216 -12.59
technical conditions also continue to hold good. The
NSE 5146 6987 -26.36 Stochastic is placed above its average and is also place
Total 7083 9203 -23.04 in the over sold zone. The Nifty remains placed above its
100-day SMA and 200-day SMA. The Nifty’s 50-day SMA
Turnover ( ` Crores) * remains placed above Nifty’s 100-day SMA and 200-day
11/02/13 08/02/13 % Chg. SMA, the later being called the ‘Golden Cross breakout’.
BSE 2140.33 2519.49 -15.05 These positive conditions would lead to short covering
NSE 9461.20 12476.95 -24.17 and buying support at lower levels. The -DI line, the +DI
NSE F&O 76807.84 97646.41 -21.34 line and the ADX line are moving sideways, indicating a
Total 88409.37 112642.85 -21.51 range bound trend. The market sentiment remains
negative. Now, it is important that the markets witness
F&O Contracts Traded (NSE) * buying support for the Nifty to move above the 50-day
11/02/13 08/02/13 % Chg. SMA, other wise increased selling pressure is likely to be
Index Fut. 172234 235657 -26.91 witnessed and markets could test the 5816 support level.
Stock Fut. 321068 446169 -28.04 In the meanwhile the markets would take cues from the
Index Opt. 1834553 2225934 -17.58
ongoing earnings season, global markets, Rupee and the
crude prices. The support levels for Nifty are placed at 5885,
Stock Opt. 197449 271159 -27.18
5816 and 5747. The Nifty faces resistance at 5966, 6158,
Total 2525304 3178919 -14.63
6313 and 6358 levels.
NOTE - * - Source – BSE & NSE
Sanjay Bhatia (AVP – Technical Research), Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

2. Jaldi 5 (Short Term Technical Ideas for 5 Trading Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Fin. Tech. Fut 1015.90 Sell Below 1014.00 1031.00 1.68 976.00 3.75
GMR Infra Fut 18.60 Sell Below 18.40 19.25 4.62 16.50 10.33
Cipla 395.00 Buy Above 396.25 390.50 1.45 409.00 3.22
* 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 19461 19474 19530 19600 19727 19404 19347 19221
S&P CNX NIFTY 5898 5900 5922 5945 5990 5877 5855 5810
NIFTY FEB 13 FUT. 5921 5910 5916 5910 5910 5916 5910 5910
Stocks To Watch Out Today
Axis Bank, Cipla, Havells, HDFC Bank, Hexaware, HUL, NHPC, Yes Bank
Aban, Bank of Baroda, FT, GMR Infra, HCL tech; Hero Motocorp; ICICI Bank, IO, IRb, ITC, JIndal Steel, Maruti, McLeod
Russel, ONGC, OBC, Pantaloon Retail, Petronet, SAIL, Tata Chem; Tata Steel, Voltas, ZEEL
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. NOTE:
TECHNICAL ANALYSIS ABBREVATIONS
SMA – Simple Moving Average
EMA – Exponential Moving Average
WMA – Weighted Moving Average
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