The domestic stock markets ended the day with losses amid range-bound trading and lack of buying support. Key indices like the BSE Sensex and NSE Nifty closed over half a percent lower. Technically, most indicators are below their averages, signaling further downside pressure. The markets will take cues from ongoing earnings and global cues in the near term. Support levels are at 5966, 5885 and 5816 for the Nifty, while resistance is at 6158, 6313 and 6358.

1. Daily Technical Outlook
1st February 2013
Indices * Close % Chg. Nifty poised decisively
BSE SENSEX 19894.98 -0.55
S&P CNX NIFTY 6034.75 -0.35
Mirroring the inconclusive global market cues the domestic
markets witnessed a flat opening. The overall trend remained
NIFTY FEB 13 FUT. 6067.20 0.11
range bound in the morning session with markets struggling
India VIX 14.13 -1.73
to find a secular direction on the derivative segment expiry
S&P CNX NIFTY Technical Levels day. However, selling pressure increased in the afternoon
Level 1 Level 2 Level 3 session with markets extending losses. The markets showed
Support 5966 5885 5816
no signs of resilience as buying support remained elusive.
However, stock specific action was witnessed. The markets
Resistance 6158 6313 6358
ended the day with losses to close near the lows for the day.
Simple Moving Averages S&P CNX NIFTY The top losers for the day were Tata Power, HDFC Bank,
50 Day SMA 5925.76 ◄Positive Bharti Airtel, ICICI Bank, HUL, Jindal Steel. Reliance, HDFC,
100 Day SMA 5781.18
L&T and Grasim.
200 Day SMA 5470.62
Technically, the market breadth remained neutral amidst
Market Breadth * BSE NSE higher volumes, which is a negative sign for the markets.
Advances 1093 523
The prevailing negative technical conditions continued
Declines 1066 582
to weigh on the market sentiment and continue to hold
good. The Stochastic, RSI, KST and MACD all are placed
Same 791 43
below their respective averages. The negative
Total 2950 1148
divergence pattern formed on the Nifty still holds good
A/D Ratio 1.03 : 1 0.90 : 1 and remains a sign of worry for the markets. These
Volume (Lacs Shares) * negative technical conditions would lead to further
selling pressure. However, the prevailing positive
31/01/13 30/01/13 % Chg.
technical conditions also continue to hold good. The
BSE 2433 2153 13.01
Nifty remains placed above its 50-day SMA, 100-day SMA
NSE 9999 7065 41.53 and 200-day SMA. The Nifty’s 50-day SMA remains
Total 12432 9218 34.87 placed above Nifty’s 100-day SMA and 200-day SMA, the
later being called the ‘Golden Cross breakout’. These
Turnover ( ` Crores) * positive conditions would lead to buying support at
31/01/13 30/01/13 % Chg. lower levels. The +DI line, -DI line and ADX line are
BSE 2377.98 2074.56 14.63 moving sideways, indicating a range bound trend. The
NSE 16028.43 12065.40 32.85 market sentiment remains tentative especially at higher
NSE F&O 227597.79 168054.06 35.43 levels. Now, it is important that the markets witness
Total 246004.20 182194.02 35.02 buying support at regular intervals and the Nifty
continues to sustain above the psychologically
F&O Contracts Traded (NSE) * important 6000 level, other wise increased selling
31/01/13 30/01/13 % Chg. pressure is likely to be witnessed and markets could test
Index Fut. 504179 330591 52.51 the 5816 support level. In the meanwhile the markets
Stock Fut. 1315076 1010585 30.13 would take cues from the ongoing earnings season,
Index Opt. 4963179 3668228 35.30
global markets, Rupee and the crude prices. The support
levels for Nifty are placed at 5966, 5885, 5816 and 5747. The
Stock Opt. 538534 409525 31.50
Nifty faces resistance at 6158, 6313 and 6358 levels.
Total 7320968 5418929 26.28
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 Target
Stock Close Action Price Loss * (%) Target (%) Remarks
AB Nuvo Fut 1135.65 Sell Below 1134 1149.50 1.37 1100 3.00
CESC Fut 314.00 Sell Below 313 319.00 2.08 300 4.00
Coal India 353.35 Buy Above 355 346.00 2.54 375.00 5.63
* 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 19895 19923 19981 20066 20209 19838 19780 19637
S&P CNX NIFTY 6035 6039 6053 6072 6105 6021 6006 5974
NIFTY FEB 13 FUT. 6067 6063 6065 6063 6063 6065 6063 6063
Stocks To Watch Out Today
Ambuja Cement, Apollo Tyre, Asian Paints, Coal India, DLF, Essar Oil, Hero Motocorp; IRB, ITC, JSW Steel, Kotak Bank, L&T
McLeod Russel, NHPC, PFC, PNB, Punj Lloyd, Siemens, Shriram Transport, Suzlon, Tata Global, Titan, Ultratech Cemco,
Welcorp; ZEEL
Aban, ABB, AB Nuvo, Allahabad Bank, Andhra Bank, CESC, Colgate, DCB, Delta Corp, FBI, FT, HDFC, HDFC Bank,
Hexaware, HPCL, Infosys Tech; Infosys Tech; Jindal Steel, LIC hsg; NCC, NMDC, Powergrid, PTC, Ranbaxy, SAIL, Tata
Chem; Tata Power, Uniphos
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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