1. Daily Technical Outlook
10th February 2012
Indices * Close % Chg. Mirroring the negative global market cues, the domestic
BSE SENSEX 17830.75 0.70 markets witnessed a subdue opening. The over all trend
S&P CNX NIFTY 5412.35 0.82 remained sluggish and range bound as Nifty traded below the
NIFTY FEB. FUT. 5437.05 0.90 5400 resistance level. However, buying momentum picked up
India VIX 23.30 -3.99 in the afternoon session and Nifty witnessed a sharp rise
crossing the 5400 resistance level. The Nifty managed to
S&P CNX NIFTY Technical Levels sustain above the 5400 level and the markets ended the day
Level 1 Level 2 Level 3 with moderate gains to close near the highs for the day. The
Support 5400 5327 5161 top gainers for the day were Rel. Power, BPCL, Tata Power,
Resistance 5681 5728 5885 Sterlite, Jindal Steel, SAIL, Bajaj Auto, Kotak Bank, HDFC
Bank and Wipro.
Moving Averages S&P CNX NIFTY
50 Day SMA 4919.57 Technically, the Nifty has finally managed to close above
◄Negative
100 Day SMA 4970.97 the 5400 level on back of robust market breadth amidst
200 Day SMA 5180.67 ◄Positive
higher volumes, which is a positive sign for the markets.
The global market set of cues are divergent. The
Volume (Lacs Shares) * domestic markets are likely to witness a flat to negative
09/02/12 08/02/12 % Chg. opening. Moreover, the Nifty remains placed above its
BSE 3313 3127 5.95 50-day, 100-day and 200-day SMA, which is a positive
NSE 9886 9366 5.55
sign for the markets. The MACD, RSI and KST are also
placed above their respective averages, which would
Total 13199 12493 5.65
help in fueling further buying support. The KST and
Turnover ( ` Crores) * MACD are placed in the positive territory. Nifty remains
09/02/12 08/02/12 % Chg.
placed above its April’2011 descending trend line, which
augurs well for the markets. The -DI line is moving lower.
BSE 3326.44 3630.37 -8.37
However, the ADX line and +DI line are placed above the
NSE 15683.77 17128.15 -8.43
30 level, indicating buyers are gaining strength. However,
NSE F&O 112219.47 122040.93 -8.05 a few technical negatives continue to prevail. The
Total 131229.68 142799.45 -8.10 Stochastic remains placed below its average. More so
the Stochastic and RSI are also placed in the over bought
F&O Contracts Traded (NSE) *
zone. The 50-day SMA continues to remain placed below
09/02/12 08/02/12 % Chg.
the 100-day SMA. All these conditions would lead to
Index Fut. 480034 569388 -15.69 regular bouts of profit taking and selling pressure,
Stock Fut. 621380 633042 -1.84 especially at higher levels. The market sentiment remains
Index Opt. 2842171 3131803 -9.25 cautious as markets are placed in the over bought zone.
Stock Opt. 194393 192079 1.20 Now, it is important that the markets witness follow up
Total 4137978 4526312 -6.35 buying support at higher levels for the Nifty to sustain
above the 5400 level. Intermediate bouts of profit taking
Market Breadth (NSE) * and selling pressure are likely to be witnessed. In the
Advances 1014 meanwhile the markets would take cues from the
Declines 490 earnings season, the global markets and the crude
Same 60 prices. The support levels for Nifty are placed at 5400, 5327,
Total 1564
5161, 5037 and 4987. The Nifty faces resistance at the 5681,
5728 and 5885 levels.
A/D Ratio 2.07 : 1
NOTE - *- Source – BSE & NSE
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

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 1707
Achieved
given Buy @
1647 on
Bajaj Auto 1701.70 Buy Above 1709.00 1677.00 1.87 1780 4.15 08/02/12
TGT of 1576
Achieved
given Buy @
1486 on
BEL 1544.75 Buy Above 1550.00 1512.00 2.45 1635 5.48 08/02/12
TGT of 375
Achieved
given Buy @
362 on
Bhushan Steel 397.05 Buy Above 402.00 385.00 4.23 440 9.45 02/02/12
TGT of 380
Achieved
given Buy @
360 on
Cairn 382.35 Buy Above 385.00 373.75 2.92 410 6.49 07/02/12
* 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 17831 17773 17937 18043 18313 17667 17503 17233
S&P CNX NIFTY 5412 5392 5444 5476 5561 5360 5307 5223
NIFTY FEB. FUT. 5437 5398 5491 5545 5692 5344 5251 5104
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. Disclaimer
This document is not for public distribution and has been furnished to you solely for your information and must not be
reproduced or redistributed to any other person. Persons into whose possession this document may come are
required to observe these restrictions.
This material is for the personal information of the authorized recipient, and we are not soliciting any action based
upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Keynote
Capitals Ltd. It does not constitute a personal recommendation or take into account the particular investment
objectives, financial situations, or needs of individual clients.
We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable
though its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected
with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their
own investigations and take their own professional advice. Price and value of the investments referred to in this
material may go up or down. Past performance is not a guide for future performance. Certain transactions -including
those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial
risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s
price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not
match with a report on a company’s fundamentals.
Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to
update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or
other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking
statements are not predictions and may be subject to change without notice. Our proprietary trading and investment
businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short
positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other
transaction involving such securities and earn brokerage or other compensation or act as a market maker in the
financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company
(ies) or have other potential conflict of interest with respect to any recommendation and related information and
opinions.
The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal
views about the subject company or companies and its or their securities, and no part of his or her compensation
was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.
No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior
written consent.
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com