1. Daily Technical Outlook
25th October 2011
Indices Close % Chg. Mirroring the positive set of global market cues, the domestic
BSE SENSEX 16939.28 0.92 markets witnessed a gap up opening. Buying support was
S&P CNX NIFTY 5098.35 0.96 witnessed which led to short covering ahead of the derivative
NIFTY NOV. FUT. 5128.65 1.08 segment expiry. However the markets failed to sustain at
India VIX 25.22 -4.10
higher levels due to lack of follow up buying support and were
seen drifting lower in the afternoon session. The markets
S&P CNX NIFTY Technical Levels failed to show any resilience against the sustained selling
Level 1 Level 2 Level 3
pressure and profit taking. The markets ended the day with
modest gains to close near the lows for the day. The top
Support 4987 4757 4563
gainers for the day were Tata Motors, ONGC, Rel. Power,
Resistance 5161 5230 5325
Axis Bank, Bajaj Auto, HUL, TCS, HCL Tech., and Grasim.
Volume (Lacs Shares) Technically, the market breadth remained negative
24/10/11 21/10/11 % Chg. amidst higher volumes. The global market set of cues are
BSE 1903 2035 -6.49 positive. The domestic markets are likely to witness a flat
NSE 5060 4629 9.31 opening. The RSI has moved above its average a. The
Total 6963 6664 4.49 Nifty remains placed above its 50-day SMA. Moreso, the
Source – BSE & NSE KST and MACD are placed above their respective
averages and in the positive territory. All these
Turnover ( ` Crores)
conditions would lead to buying support at regular
2410/11 21/10/11 % Chg.
intervals. However, the prevailing technical negatives
BSE 2026.13 2342.96 -13.52 continue are likely to cap the upside gains. The
NSE 9140.42 8909.17 2.60 Stochastic is placed below its average. The Nifty
NSE F&O 150469.14 149566.61 0.60 continues to trade below its 200-day SMA. Further the 50-
Total 161635.69 160818.74 0.51 day SMA remains placed below the 100-day SMA. All
Source – BSE & NSE these conditions would lead to selling pressure and
Market Breadth (NSE)
profit taking especially at higher levels. The ADX, +DI
line and –DI line are moving sideways, indicating a range
Advances 639
bound trend. The market sentiment remains cautious as
Declines 823
Nifty index failed to test the 5161 level. Now, it is
Same 78 important that the Nifty moves and sustains above the
Total 1540 5161 level for it to move higher to test the 5230 level. The
A/D Ratio 0.78 : 1 4987 remains an important support level. The markets
Source – NSE will witness intermediate bouts of volatility ahead of the
Moving Averages S&P CNX NIFTY derivative segment expiry and RBI’s policy meet today. In
50 Day SMA 4997.71
the meanwhile the markets would take cues from the
◄Negative global markets and the earnings season. The support
100 Day SMA 5249.25
levels for Nifty are placed at 4987, 4757, 4563 and 4387. The
200 Day SMA 5420.35 ◄Negative
Nifty faces resistance at the 5161, 5230 and 5325.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16939 16981 17063 17187 17393 16857 16775 16568
S&P CNX NIFTY 5098 5110 5134 5170 5231 5074 5049 4988
NIFTY NOV. FUT. 5129 5140 5165 5201 5262 5104 5079 5018
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
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4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
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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
CESC 257.35 Sell Below 252.00 262.50 4.17 229 9.13
Dish TV 73.45 Sell Below 72.50 75.50 4.14 66 8.97
TGT of 62
Achieved
given @ 67
EKC 62.15 Sell Below 61.50 64.50 4.88 55 10.57 on 19/10/11
LIC Hsg. Fin. 211.65 Sell Below 209.00 209.00 0.00 195 6.70
* Stop Losses are to be considered on Closing basis only.
Keynote Capitals Ltd.
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4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

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