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Keynote technicals daily report for 020512

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Keynote technicals daily report for 020512

  1. 1. Daily Technical Outlook 2nd May 2012 Indices * Close % Chg. Mirroring the positive global market cues, the domestic BSE SENSEX 17318.81 0.76 markets opened on a firm note. Steady buying support was S&P CNX NIFTY 5248.15 0.75 witnessed as markets moved higher to trade closer to the NIFTY May FUT. 5267.85 0.68 5300 level. However, the markets failed to capitalize on India VIX 17.82 1.19 morning gains as follow up buying support did not materialize. Profit taking and selling pressure was witnessed at higher S&P CNX NIFTY Technical Levels levels. The markets ended the day with modest gains to close Level 1 Level 2 Level 3 near the highs for the day. The top gainers for the day wereSupport 5161 5037 4955 TCS, Jindal Steel, Powergrid, Hero Motocorp, Infosys Tech,Resistance 5400 5681 5728 DLF, ASCC, Rel. Infra, JP Associates and ONGC. Moving Averages S&P CNX NIFTY Technically, the market breadth remained positive. The50 Day SMA 5305.75 global market cues are largely positive. The domestic100 Day SMA 5134.75 markets are likely to witness a firm opening. The200 Day SMA 5123.29 ◄ Crucial prevailing technical positives have helped the markets to move higher. The KST, Stochastic and RSI have moved Volume (Lacs Shares) * above their respective averages. More so the KST has 30/04/12 28/04/12 % Chg. moved in the positive territory. This would lead to buyingBSE 1638 398 311.56 support. The Nifty continues to sustain above its long-NSE 5394 779 592.05 term moving average the 200-day SMA. Moreover, theTotal 7032 1177 497.23 Nifty’s 50-day SMA remains placed above Nifty’s 100-day SMA and 200-day SMA, the later being called the “Golden Turnover ( ` Crores) * Cross” breakout. Moreso, the Nifty’s 100-day SMA has 30/04/12 28/04/12 % Chg. crossed above the Nifty’s 200-day SMA. These positiveBSE 1678.89 282.22 494.89 technical conditions would prompt buying support atNSE 8860.99 908.73 875.10 regular intervals. However, the negative technical conditions still hold good and would lead to profit takingNSE F&O 66255.80 7195.67 820.77 and selling pressure at higher levels. The MACD hasTotal 76795.68 8386.62 815.69 slipped below its average. The Nifty remains placed F&O Contracts Traded (NSE) * below its 50-day SMA, which is a short term negative. The ADX line, +DI line and –DI line continue to move 30/04/12 28/04/12 % Chg. sideways, indicating that markets would continue toIndex Fut. 328587 32850 900.26 remain range bound. The market sentiment remainsStock Fut. 379160 46715 711.65 cautious. Now, it is important that the markets witnessIndex Opt. 1705141 184433 824.53 buying support at regular intervals for the Nifty to moveStock Opt. 122172 13278 820.11 higher. The 200-day SMA remains a crucial support levelTotal 2535060 277276 587.72 for the markets. In the meanwhile the markets would take cues from the forthcoming Q4 results along with global Market Breadth (NSE) * markets and the crude prices. The support levels for NiftyAdvances 852 are placed at 5161, 5037 and 4955. The Nifty facesDeclines 622 resistance at the 5400, 5681, 5728 and 5885 levels.Same 70Total 1544A/D Ratio 1.37 : 1NOTE - *- Source – BSE & NSESanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in Keynote Capitals Ltd. th The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  2. 2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days) Stop Initiation Stop Loss Target Stock Close Action Price Loss * (%) Target (%) RemarksACC 1237.15 Buy Above 1240.00 1222.00 1.45 1280 3.23Arvind 86.90 Buy Above 87.25 85.50 2.01 91 4.30DCHL 39.95 Buy Above 41.00 37.40 8.78 49 19.51* 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 17319 17291 17387 17455 17619 17223 17127 16964S&P CNX NIFTY 5248 5237 5273 5298 5359 5212 5177 5116NIFTY MAY FUT. 5268 5261 5295 5323 5384 5233 5199 5137 Keynote Capitals Ltd. th The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  3. 3. Stocks to watch out todayAban, Bajaj Hind; BoB, BoI, Bharat Forge, Cairn, DCHL, Dena Bank, Divis Labs, DLF, HIndalco, HPCL, Hind.Zinc, IB Realestate, ICICI Bank, Infosys Tech; Jinal Steel, Pantaloon Retail, Powergrid, Reliance, Rel. Infra, Rel.Power, Ruchi Soya, Sesa Goa, Sintex, Suzlon, Syndicate Bank, Tata Chemicals, Tata Motors, Tata Motors DVR,TCS, Union Bank, Uniphos, Vijaya Bank, GMR Infra, Idea, ITC, Shriram Transport 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. th The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com