The domestic stock markets witnessed a relief rally and modest gains after falling earlier in the day. Key indices like the BSE Sensex and Nifty closed slightly higher, up around 0.5%. Technically, indicators like the Stochastic and various moving averages provide some positive signals, but overall sentiment remains negative due to factors like declining market breadth. The technical outlook suggests the markets could see further bouts of short-covering and buying but continued pressure at higher levels.

1. Daily Technical Outlook
13th February 2013
Indices * Close % Chg. Relief rally witnessed
BSE SENSEX 19561.04 0.52
S&P CNX NIFTY 5922.50 0.42
Mirroring the inconclusive global market cues the domestic
markets witnessed a flat opening. Selling pressure continued
NIFTY FEB 13 FUT. 5941.40 0.34
on the bourses as markets slipped lower. However, the over
India VIX 15.31 -2.17
all trend remained range bound and lackluster. The markets
S&P CNX NIFTY Technical Levels managed to come off the lows for the day on back of buying
Level 1 Level 2 Level 3 support and short covering helping the Nifty move above the
Support 5885 5816 5747
5900 level. The markets ended the day with modest gains to
close near the highs for the day. The top losers for the day
Resistance 5966 6158 6313
were ONGC, Sun Pharma, HCL Tech; Tata Motors, Coal
Simple Moving Averages S&P CNX NIFTY India, Bharti Airtel, BPCL, Lupin, Bajaj Auto and HDFC Bank.
50 Day SMA 5960.89 ◄Negative
100 Day SMA 5821.74
Technically, the market breadth remained negative
amidst higher volumes, indicating buying concentrated
200 Day SMA 5498.80
in index heavyweight stocks. The prevailing positive
Market Breadth * BSE NSE technical conditions helped the markets witness a relief
Advances 864 416
rally. The Stochastic remains placed above its average
Declines 1289 665
and is also place around the over sold zone. The Nifty
remains placed above its 100-day SMA and 200-day SMA.
Same 785 43
The Nifty’s 50-day SMA remains placed above Nifty’s
Total 2938 1124
100-day SMA and 200-day SMA, the later being called the
A/D Ratio 0.67 : 1 0.63 : 1 ‘Golden Cross breakout’. These positive conditions
Volume (Lacs Shares) * would lead to intermediate bouts of short covering and
buying support. However, the prevailing negative
12/02/13 11/02/13 % Chg.
technical conditions continue to hold good and are likely
BSE 2643 1937 36.45
to weigh on the market sentiment. The Nifty remains
NSE 7564 5146 46.99 placed below its 50-day SMA. The negative divergence
Total 10207 7083 44.11 pattern formed on the Nifty still holds good and remains
a sign of worry for the markets. The RSI, KST and MACD
Turnover ( ` Crores) * all are placed below their respective averages. Moreover,
12/02/13 11/02/13 % Chg. the KST and MACD are placed in the negative territory,
BSE 1971.57 2140.33 -7.88 which warns of impending selling pressure. These
NSE 10035.51 9461.20 6.07 negative technical conditions would lead to selling
NSE F&O 88154.24 76807.84 14.77 pressure at higher levels. The -DI line, the +DI line and
Total 100161.32 88409.37 13.29 the ADX line are moving sideways, indicating a range
bound trend. The market sentiment remains negative.
F&O Contracts Traded (NSE) * Now, it is important that the markets witness buying
12/02/13 11/02/13 % Chg. support for the Nifty to move above the 50-day SMA,
Index Fut. 196240 172234 13.94 other wise increased selling pressure is likely to be
Stock Fut. 428011 321068 33.31 witnessed and markets could test the 5816 support level.
Index Opt. 2002350 1834553 9.15
In the meanwhile the markets would take cues from the
ongoing earnings season, global markets, Rupee and the
Stock Opt. 256533 197449 29.92
crude prices. The support levels for Nifty are placed at 5885,
Total 2883134 2525304 8.98
5816 and 5747. The Nifty faces resistance at 5966, 6158,
NOTE - * - Source – BSE & NSE 6313 and 6358 levels.
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
TGT of
1044
Achieved
given Sell
@ 1077
on
AB Nuvo Fut 1071.70 Sell Below 1063.00 1078.00 1.41 1030.00 3.10 08/02/13
TGT of
180
Achieved
given Sell
@ 186.50
on
Auro. Pharma Fut 181.00 Sell Below 180.00 183.60 2.00 172.00 4.44 08/02/13
Bank of India Fut 341.05 Sell Below 340.00 349.00 2.65 320.00 5.88
* 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 19561 19528 19617 19673 19818 19472 19383 19238
S&P CNX NIFTY 5923 5912 5938 5953 5995 5897 5871 5830
NIFTY FEB 13 FUT. 5941 5916 5929 5916 5916 5929 5916 5916
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. Stocks To Watch Out Today
Bajaj Auto, Coal India, Colgate, DCB, Delta Corp; Divis Labs, Grasim, HDFC Bank, HUL, IDBI, Idea, Indusind Bank,
Karnataka Bank, LIC Hsg; Lupin, NHPC, Powergrid, Reliance, Rolta, Sun Pharma, Sundicate Bank, Tata Motors, Titan,
United Spirits, Yes Bank
Aban, AB Nuvo, Allahabad Bank, Ashok Leyland, Aurobindo Pharma, Bank of Baroda, Bank of India, CESC, Dena Bank, DLF,
Escorts, FT, Gail, GVK, HDIL, Hero Motocorp; IDFC, IFCI, Infosys Tech; JIndal Steel, JSW Steel, LITL, Maruti, McLeod
Russel, OnMobile, Pantaloon Retail, PFC, Ranbaxy, Rel .Comm; Renuka Sugar, Sun TV, Suzlon, Tata Steel, Unitech,
Videocon, ZEEL
NOTE:
TECHNICAL ANALYSIS ABBREVATIONS
SMA – Simple Moving Average
EMA – Exponential Moving Average
WMA – Weighted Moving Average
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