The domestic markets witnessed negative trading due to weak global cues. The indices opened lower and continued their downward trend due to sustained selling pressure. Though the markets pared some losses in the final hour, they still closed near the day's lows with marginal losses. Technically, most indicators are showing negative signals and below their averages, suggesting further downside risks. Key support and resistance levels are noted.

1. Daily Technical Outlook
18th February 2013
Indices * Close % Chg. Market undertone weak
BSE SENSEX 19468.15 -0.15
S&P CNX NIFTY 5887.40 -0.16
Mirroring the weak global market cues the domestic markets
witnessed a negative opening. Selling pressure continued as
NIFTY FEB 13 FUT. 5892.65 -0.13
markets drifted lower. The markets failed to show any
India VIX 15.24 0.99
resilience against selling pressure as buying support
S&P CNX NIFTY Technical Levels remained elusive. However, the markets managed to come
Level 1 Level 2 Level 3 off the lows for the day in the last hour of trade. Short
Support 5885 5816 5747
covering and selective buying support was witnessed ahead
of the weekend. The markets ended the day with marginal
Resistance 5966 6158 6313
losses to close near the lows for the day. The top gainers for
Simple Moving Averages S&P CNX NIFTY the day were Dr. Reddys, Cairn, Grasim, DLF, Ultratech
50 Day SMA 5960.83 ◄Negative Cemco, Bajaj Auto, Siemens, HCL Tech; Reliance and
100 Day SMA 5830.46
BPCL.
200 Day SMA 5508.91
Technically, the market breadth remained negative
Market Breadth * BSE NSE amidst lower volumes. The prevailing negative technical
Advances 896 397
conditions continued to weigh on market sentiment. The
Declines 1234 596
Stochastic has slipped below its average. The RSI, KST
and MACD all are already placed below their respective
Same 834 27
averages. The Nifty remains placed below its 50-day
Total 2964 1020
SMA. The negative divergence pattern formed on the
A/D Ratio 0.73 : 1 0.67 : 1 Nifty still holds good and remains a sign of worry for the
Volume (Lacs Shares) * markets.. Moreover, the KST and MACD are placed in the
negative territory, which warns of impending selling
15/02/13 14/02/13 % Chg.
pressure. These negative technical conditions would
BSE 2060 2266 -9.09
lead to further selling pressure. However, the prevailing
NSE 6476 8048 -19.54 positive technical conditions still hold good. The Nifty
Total 8536 10314 -17.24 remains placed above its 100-day SMA and 200-day SMA.
The Nifty’s 50-day SMA remains placed above Nifty’s
Turnover ( ` Crores) * 100-day SMA and 200-day SMA, the later being called the
15/02/13 14/02/13 % Chg. ‘Golden Cross breakout’. These positive conditions
BSE 1825.03 2165.93 -15.74 would lead to intermediate bouts of short covering and
NSE 10026.91 12746.64 -21.34 selective buying support at lower levels. The -DI line is
NSE F&O 124514.65 122634.88 1.53 placed above the 28 level and also above the +DI line,
Total 136366.59 137547.45 -0.86 indicating sellers are gaining strength. The market
sentiment remains negative. We hold our view that
F&O Contracts Traded (NSE) * upsides should be used to add to short positions until
15/02/13 14/02/13 % Chg. Nifty moves above the 50-day SMA. The Nifty is likely to
Index Fut. 273553 256287 6.74 test the 5816 support level in the near future. In the
Stock Fut. 451023 597514 -24.52 meanwhile the markets would take cues from the
Index Opt. 3077377 2580065 19.28
ongoing earnings season, global markets, Rupee and the
crude prices. The support levels for Nifty are placed at 5885,
Stock Opt. 341115 626720 -45.57
5816 and 5747. The Nifty faces resistance at 5966, 6158,
Total 4143068 4060586 5.21
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
Stock Close Action Price Loss * (%) Target Target (%) Remarks
TGT of
305
Achieved
given Sell
@ 315.30
on
Cairn Fut 306.45 Sell Below 306 312.50 2.12 292 4.58 14/02/13
Ambuja Cement 192.15 Buy Above 193 189.75 1.68 200 3.63
Bharat Forge 225.70 Buy Above 227 221.00 2.64 240 5.73
* 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 19468 19454 19527 19585 19716 19396 19323 19192
S&P CNX NIFTY 5887 5880 5907 5926 5973 5861 5834 5788
NIFTY FEB 13 FUT. 5893 5870 5881 5870 5870 5881 5870 5870
Stocks To Watch Out Today
Ambuja Cement, Apollo Tyre, Bharat Forge, GAIL, GSPL, Havells, IBRealestate, ITC, Karnataka Bank, Sun Pharma, Tata
Power
Ashok Leyland, Bajaj Auto, Biocon, BPCL, Cairn India, Dish TV, Divis Labs, Dr. Reddys, GMR Infra, HDIL, HPCL, Hind. Zinc,
Indian Hotels, IOC, IRB Infra, IVRCL, JSW Energy, LIC Hsg; Maruti, PTC, Ranbaxy Raymond, Reliance, Rel. Power, Siemens
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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