1. Daily Technical Outlook
16th February 2012
Indices * Close % Chg. Mirroring the positive Asian market cues, the domestic
BSE SENSEX 18202.41 1.98 markets witnessed a firm opening. Steady buying support
S&P CNX NIFTY 5531.95 2.14 was witnessed as markets traded above the 5400 level. The
NIFTY FEB. FUT. 5552.55 2.06 markets showed no signs of weakness though occasional
India VIX 22.10 -2.68 bouts of profit taking and selling pressure were witnessed.
The markets ended the day with handsome gains to close
S&P CNX NIFTY Technical Levels near the highs for the day. The top gainers for the day were
Level 1 Level 2 Level 3 Rel. Power, JP Associates, Tata Motors, Axis Bank, DLF,
Support 5400 5327 5161 Tata Power, Rel. Comm., L&T, BHEL and Sterlite.
Resistance 5681 5728 5885
Technically, the market breadth remained robust amidst
Moving Averages S&P CNX NIFTY higher volumes, which is a positive sign for the markets.
50 Day SMA 4952.19 The Nifty has managed to sustain above the crucial 5400
◄Negative
100 Day SMA 4984.27 level. The KST and Stochastic have once again moved
200 Day SMA 5173.08 ◄Positive
above their respective averages. The RSI and MACD are
already placed above their respective averages. More so
Volume (Lacs Shares) * KST and MACD are placed in the positive, which augurs
15/02/12 14/02/12 % Chg. well for the markets. The Nifty remains placed above its
BSE 4316 3371 28.03 50-day, 100-day and 200-day SMA, which is a positive
NSE 13139 9287 41.48
sign for the markets. The Nifty remains placed above its
April’2011 descending trend line. The -DI line is moving
Total 17455 12658 37.90
lower. However, the ADX line and +DI line are placed
Turnover ( ` Crores) * above the 30 level and moving higher, indicating buyers
15/02/12 14/02/12 % Chg.
have an upper hand. All these positive conditions would
help in fueling buying support at regular intervals.
BSE 4139.38 3556.76 16.38
However, a few prevailing technical negatives are likely
NSE 18737.39 13285.28 41.04
to weigh on market sentiment. The KST, RSI, MACD and
NSE F&O 171858.87 103255.13 66.44 Stochastic are all placed in the over bought zone. The 50-
Total 194735.64 120097.17 62.15 day SMA continues to remain placed below the 100-day
SMA. All these conditions would lead to regular bouts of
F&O Contracts Traded (NSE) *
profit taking and selling pressure. The market sentiment
15/02/12 14/02/12 % Chg.
remains cautious as markets are placed in the over
Index Fut. 545325 361700 50.77 bought zone. Now, it is important that the markets
Stock Fut. 840598 616051 36.45 witness follow up buying support at regular intervals for
Index Opt. 4483921 2562352 74.99 the Nifty to sustain above the 5400 level and to test the
Stock Opt. 276977 204080 35.72 5681 resistance level. Intermediate bouts of profit taking
Total 6146821 3744183 53.27 and selling pressure are likely to be witnessed amidst
volatile and choppy trade. In the meanwhile the markets
Market Breadth (NSE) * would take cues from the earnings season, the global
Advances 1064 markets and the crude prices. The support levels for Nifty
Declines 427 are placed at 5400, 5327, 5161 and 5037. The Nifty faces
Same 66 resistance at the 5681, 5728 and 5885 levels.
Total 1557
A/D Ratio 2.49 : 1
NOTE - *- Source – BSE & NSE
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
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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
Allahabad Bank 195.50 Buy Above 197.00 193.00 2.03 206 4.57
BGR Energy 295.00 Buy Above 301.00 281.50 6.48 344 14.29
BHEL 277.10 Buy Above 280.00 271.00 3.21 300 7.14
DLF 248.85 Buy Above 252.00 241.50 4.17 275 9.13
* 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 18202 18145 18289 18376 18607 18058 17914 17683
S&P CNX NIFTY 5532 5512 5563 5593 5675 5481 5430 5349
NIFTY FEB. FUT. 5553 5531 5586 5620 5710 5497 5441 5352
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