1. Daily Technical Outlook
15th February 2012
Indices * Close % Chg. Mirroring the divergent global market cues, the domestic
BSE SENSEX 17848.57 0.43 markets witnessed a flat opening. The Nifty move above the
S&P CNX NIFTY 5416.05 0.48 5400 level on back of steady buying support. Though overall
NIFTY FEB. FUT. 5440.35 0.41 trend remained range bound and listless the markets held on
India VIX 22.71 -4.21 to the gains. Buying momentum increased in last hour of
trade as Nifty continued to sustain above the 5400 level. The
S&P CNX NIFTY Technical Levels markets ended the day with modest gains to close near the
Level 1 Level 2 Level 3 highs for the day. The top gainers for the day were Rel.
Support 5400 5327 5161 Comm., Tata Motors, L&T, Maruti, Hindalco, Hero Motocorp,
Resistance 5681 5728 5885 IDFC, SBI, JP Associates and PNB.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained positive amidst
50 Day SMA 4942.80 higher volumes, which is a positive sign for the markets.
◄Negative
100 Day SMA 4980.28 The global market set of cues are divergent. The
200 Day SMA 5174.17 ◄Positive
domestic markets are likely to witness a flat to positive
opening. The Nifty has once again closed above the
Volume (Lacs Shares) * crucial 5400 level. The RSI has once again moved above
14/02/12 13/02/12 % Chg. its average. The MACD is already placed above its
BSE 3371 2771 21.65 average and remains placed in the positive along with
NSE 9287 7527 23.38
the KST, which augurs well for the markets. The Nifty
remains placed above its 50-day, 100-day and 200-day
Total 12658 10298 22.92
SMA, which is a positive sign for the markets. More so
Turnover ( ` Crores) * Nifty remains placed above its April’2011 descending
14/02/12 13/02/12 % Chg.
trend line. The -DI line is moving lower. However, the
ADX line and +DI line are placed above the 30 level,
BSE 3556.76 3111.75 14.30
indicating buyers are gaining strength. All these positive
NSE 13285.28 12802.49 3.77
conditions would help in fueling buying support at
NSE F&O 103255.13 113571.71 -9.08 regular intervals. However, a few prevailing technical
Total 120097.17 129485.95 -7.25 negatives are likely to weigh on market sentiment. The
KST and Stochastic are placed below their respective
F&O Contracts Traded (NSE) *
averages. Both these oscillators are also placed in the
14/02/12 13/02/12 % Chg.
over bought zone along with RSI. The 50-day SMA
Index Fut. 361700 424352 -14.76 continues to remain placed below the 100-day SMA. All
Stock Fut. 616051 619884 -0.62 these conditions would lead to regular bouts of profit
Index Opt. 2562352 2900105 -11.65 taking and selling pressure. The market sentiment
Stock Opt. 204080 244946 -16.68 remains cautious as markets are placed in the over
Total 3744183 4189287 -9.04 bought zone. Now, it is important that the markets
witness follow up buying support at regular intervals for
Market Breadth (NSE) * the Nifty to sustain above the 5400 resistance level.
Advances 829 Intermediate bouts of profit taking and selling pressure
Declines 661 are likely to be witnessed. In the meanwhile the markets
Same 73 would take cues from the earnings season, the global
Total 1563
markets and the crude prices. The support levels for Nifty
are placed at 5400, 5327, 5161 and 5037. The Nifty faces
A/D Ratio 1.25 : 1
resistance at the 5681, 5728 and 5885 levels.
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
Fortis Healthcare 109.50 Buy Above 110.50 105.75 4.30 121 9.50
GSPL 86.05 Buy Above 87.00 84.75 2.59 92 5.75
HCC 29.15 Buy Above 29.50 27.40 7.12 34 15.25
Hero Motorcorp. 2081.80 Buy Above 2086.00 2012.00 3.55 2250 7.86
Adani Power 69.30 Sell Below 69.00 73.00 5.80 60 13.04
* 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 17849 17827 17912 17975 18123 17764 17679 17532
S&P CNX NIFTY 5416 5407 5437 5457 5508 5387 5357 5307
NIFTY FEB. FUT. 5440 5430 5464 5488 5547 5406 5372 5313
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