1. Daily Technical Outlook
29th August 2011
Indices Close % Chg. The domestic markets witnessed a flat opening. The overall
BSE SENSEX 15848.83 -1.84 trend remained range bound amidst lackluster volumes in the
S&P CNX NIFTY 4747.80 -1.90 morning trade. Selling pressure gained momentum in the
NIFTY SEP. FUT. 4748.70 -2.43 afternoon trade as buying support remained elusive. The
India VIX 33.26 19.04
markets failed to show any resilience and drifted lower. The
markets ended the day with moderate losses to close near
S&P CNX NIFTY Technical Levels the lows for the day. The top losers for the day were Rel.
Level 1 Level 2 Level 3
Capital, Rel. Comm., Rel. Infra, JP Associates, Sesa Goa,
DLF, PNB, Rel. Power, Tata Steel and SAIL.
Support 4563 4481 4300
Resistance 4757 4806 4987 Technically, the market breadth remained negative
amidst lower volumes. The global market set of cues are
Volume (Lacs Shares) largely positive. The domestic markets are likely to
26/08/11 25/08/11 % Chg. witness a gap up opening, however, volumes are likely to
BSE 2584 2760 -6.38 remain lackluster due to festive holidays during this
NSE 5941 7393 -19.64 week. The Nifty has slipped below its support level of
Total 8525 10153 -16.03 4757, which is a negative sign and would lead to further
Source – BSE & NSE selling pressure. The Nifty continues to trade below its
200-day SMA. Further the 50-day SMA remains placed
Turnover ( ` Crores)
below the 100-day SMA. The Nifty remains placed below
26/08/11 25/08/11 % Chg.
the February’11 ascending trendline. The Stochastic, RSI,
BSE 2375.99 2438.34 -2.56 MACD and KST are placed below their respective
NSE 10267.59 13387.74 -23.31 averages. The -DI and the ADX lines are placed above the
NSE F&O 101375.59 225779.14 -55.10 39 level, indicating sellers still have an upper hand. The
Total 114019.17 241605.22 -52.81 +DI line is falling once again. The KST and MACD are
Source – BSE & NSE placed in the negative territory. These conditions would
Market Breadth (NSE)
result in selling pressure. However, the MACD, RSI and
KST are placed in the over sold territory on the daily
Advances 213
charts. This would lead to regular bouts of short
Declines 1273
covering and buying support leading to relief rally. With
Same 47 no over hangs of the Lok Pal Bill and Fed’s statement,
Total 1533 the markets are likely to move higher. However, it is
A/D Ratio 0.17 : 1 important that the markets move and sustain above the
Source – NSE 4757-4806 resistance level, if it has to move higher to test
Moving Averages S&P CNX NIFTY the 4987 level. The markets will display volatility as it
50 Day SMA 5370.17
tries to move above the 4806 level. In the meanwhile the
◄Negative markets would take cues from the global markets. The
100 Day SMA 5488.15
support levels for Nifty are placed at 4563, 4481 and 4300.
200 Day SMA 5605.16 ◄Negative
The Nifty faces resistance at the 4757, 4806 and 4987 levels.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 15849 15957 16148 16448 16939 15657 15466 14975
S&P CNX NIFTY 4748 4780 4840 4932 5084 4688 4628 4476
NIFTY SEP. FUT. 4749 4785 4852 4955 5125 4682 4615 4445
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
TGT of 170
Achieved
given @ 173
Allahabad Bank 167.75 Sell Below 166.50 169.50 1.80 160.00 3.90 on 26/08/11
TGT of 170
Achieved
given @ 173
Dish TV 72.30 Sell Below 71.00 73.75 3.87 65.00 8.45 on 26/08/11
Indusind Bank 226.60 Sell Below 224.00 235.00 4.91 200.00 10.71
* 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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