- The Indian markets witnessed a gap down opening and sustained selling pressure, falling over 1.5% due to weak global cues. - Increased selling pressure in the afternoon saw the markets close near the day's lows. Top sectoral losers were metals, banks, and oil & gas. - Technically, market breadth remained weak with higher volumes, and indicators like stochastic, KST, and RSI slipped below averages, signaling more downside.

1. Daily Technical Outlook
22nd February 2013
Indices * Close % Chg. Nifty cracks on weak global cues
BSE SENSEX 19325.36 -1.62
S&P CNX NIFTY 5852.25 -1.53
Mirroring the weak global market cues the domestic markets
witnessed a gap down opening. Sustained selling pressure
NIFTY FEB 13 FUT. 5853.45 -1.85
was witnessed as markets moved lower. The markets failed
India VIX 16.94 8.58
to show any resilience as buying support remained elusive.
S&P CNX NIFTY Technical Levels Increased selling pressure was witnessed in the afternoon
Level 1 Level 2 Level 3 session. The markets ended the day with large losses to
Support 5816 5747 5571
close near the lows for the day. The top losers for the day
were Jindal Steel, Tata Steel, Rel. Infra, Sesa Goa, ICICI
Resistance 5885 5966 6158
Bank, JP Associates, Hindalco, Maruti, IDFC and PNB.
Simple Moving Averages S&P CNX NIFTY
Technically, the market breadth remained weak amidst
50 Day SMA 5961.43 ◄Negative
higher volumes, which is a negative sign for the stocks.
100 Day SMA 5840.23
The prevailing negative technical conditions weighed on
200 Day SMA 5525.13 the market sentiment. The Stochastic, KST and RSI have
Market Breadth * BSE NSE
once again slipped below their respective averages.
Moreover, the MACD is already placed below its average.
Advances 904 197
Moreover, the Nifty remains placed below its 50-day
Declines 1929 880
SMA, which does not augur well for the markets. The
Same 128 29 negative divergence pattern formed on the Nifty still
Total 2961 1106 holds good and remains a sign of worry for the markets.
A/D Ratio 0.47 : 1 0.22 : 1 Moreover, the KST and MACD are placed in the negative
territory, which warns of impending selling pressure.
Volume (Lacs Shares) * These negative technical conditions would lead to
21/02/13 20/02/13 % Chg. further selling pressure especially at higher levels.
BSE 2116 1991 6.28 However, the prevailing positive technical conditions still
NSE 6418 6678 -3.90 hold good. The Nifty remains placed above its 100-day
Total 8534 8669 -1.56 SMA and 200-day SMA. The Nifty’s 50-day SMA remains
placed above Nifty’s 100-day SMA and 200-day SMA, the
Turnover ( ` Crores) * later being called the ‘Golden Cross breakout’. These
21/02/13 20/02/13 % Chg. positive conditions would lead to intermediate bouts of
BSE 1957.61 1825.23 7.25 short covering and selective buying support at lower
NSE 13294.96 10233.77 29.91 levels. The –DI line is placed above the +DI line and is
NSE F&O 164075.86 102672.65 59.80 also placed above the 32 level, indicating sellers are
Total 179328.43 114731.65 56.30
gaining strength. The market sentiment remains cautious
ahead of the Union Budget. We hold our view that
F&O Contracts Traded (NSE) * upsides should be used to add to short positions until
21/02/13 20/02/13 % Chg. Nifty moves and closes above the 50-day SMA. However,
Index Fut. 373558 176032 112.21
stock specific action will be witnessed. In the meanwhile
the markets would take cues from the news flow on
Stock Fut. 554394 463683 19.56
Union Budget, global markets, Rupee and the crude
Index Opt. 4189780 2467376 69.81
prices. The support levels for Nifty are placed at 5816, 5747
Stock Opt. 340305 289151 17.69 and 5571. The Nifty faces resistance at 5885, 5966, 6158
Total 5458037 3396242 52.22 and 6313 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
Stock Close Action Price Loss * (%) Target Target (%) Remarks
Allahabad Bank Fut 146.30 Sell Below 145.50 148.25 1.89 140 3.78
Arvind Fut 85.10 Sell Below 84.25 86.25 2.37 80 5.04
Bata Fut 749.70 Sell Below 749.00 760.00 1.47 725 3.20
* 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 19325 19390 19490 19655 19920 19225 19125 18860
S&P CNX NIFTY 5852 5873 5901 5949 6026 5824 5796 5719
NIFTY FEB 13 FUT. 5853 5849 5851 5849 5849 5851 5849 5849
Stocks To Watch Out Today
HCL Tech; Hexaware, Mphasis, Tata Power, TCS
Aban, ABB, Allahabad Bank, Arvind, Aurobindo Pharma, Axis Bank, Bank of Baroda, Bank of India, Bata, Bharti Airtel,
Colgate, Crompton Greaves, Dish TV, Exide, Godrej Inds; Havells, HDFC Bank, Hindalco, HOECL, ICICI Bank, IDBI, IDFC,
India Infoline, Indusind Bank, IOB, ITC, IVRCL, Jet Airways, Jinal Saw, Jindal Steel, JSW Steel, Kotak Bank, Karnataka Bank,
LIC Hsg; L&T, M&M, NHPC, NMDC, ONGC, OBC, Pantaloon retail, PFC, Powergrid, Raymond, Rel. Comm; Rel. Infra, SAIL,
SBI, Sesa Goa, Sun TV, Tata Comm; Tata Global, Tata Motors, Tata Steel, Titan, Union Bank, Yes Bank, 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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