1. Daily Technical Outlook
5th October 2011
Indices Close % Chg. Mirroring the negative set of global market cues, the domestic
BSE SENSEX 15864.86 -1.77 markets witnessed a negative opening. The markets
S&P CNX NIFTY 4772.15 -1.60 remained range bound amidst listless trading. The volume
NIFTY OCT. FUT. 4775.00 -1.70 recorded remained tepid. The domestic markets collapsed in
India VIX 37.19 6.04
the afternoon session on back of weak European opening
and downgrade of SBI by Moody’s. The markets managed to
S&P CNX NIFTY Technical Levels come off the lows for the day but ended the day with
Level 1 Level 2 Level 3
moderate losses. The top losers for the day were ICICI Bank,
SBI, Tata Motors, Jindal Steel, M&M, Axis Bank, Sterlite,
Support 4757 4563 4387
HUL, Bharti Airtel and PNB.
Resistance 4987 5161 5211
Technically, the market breadth remained negative
Volume (Lacs Shares) amidst higher volumes, which is a negative sign for the
04/10/11 03/10/11 % Chg. markets. The Asian market set of cues are negative. The
BSE 2016 2083 -3.22 domestic markets are likely to witness a flat opening. The
NSE 5811 4583 26.78 Nifty has tested our target of 4757 level and bounced
Total 7827 6666 17.41 back. However, the prevailing technical negatives and
Source – BSE & NSE weak global market cues would continue to weigh on the
market sentiment. Nifty remains placed below the crucial
Turnover ( ` Crores)
4987 level, which would lead to further selling pressure.
04/10/11 03/10/11 % Chg.
The KST and MACD continue to remain placed in the
BSE 2613.94 2150.24 21.57 negative territory. Moreover, the Stochastic, RSI, MACD
NSE 11415.40 8677.89 31.55 and KST are placed below their respective averages. All
NSE F&O 111863.83 81146.33 37.85 these conditions would lead to further selling pressure.
Total 125893.17 91974.46 36.88 The Nifty continues to trade below its 200-day SMA.
Source – BSE & NSE Moreso, the 50-day SMA remains placed below the 100-
Market Breadth (NSE)
day SMA. The –DI line is placed above the 35 level
indicating sellers have an upper hand, while the ADX, +DI
Advances 444
line are moving sideways. The market sentiment remains
Declines 1017
negative. The markets are likely to drift lower and the
Same 63 Nifty is likely to test the 4757 level once again even
Total 1524 breach it to test the 4563 support level. In the meanwhile
A/D Ratio 0.44 : 1 the markets would take cues from the global markets and
Source – NSE forthcoming earnings quarter. The support levels for Nifty
Moving Averages S&P CNX NIFTY are placed at 4757, 4563 and 4387. The Nifty faces
50 Day SMA 5099.32
resistance at the 4987, 5161, 5211 and 5325 levels.
◄Negative
100 Day SMA 5303.56
200 Day SMA 5485.50 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 15865 15938 16130 16395 16851 15673 15481 15024
S&P CNX NIFTY 4772 4790 4852 4932 5073 4710 4649 4507
NIFTY OCT. FUT. 4775 4795 4865 4954 5114 4705 4636 4477
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 965
Achieved
given @ 1035
Axis Bank 963.90 Sell Below 955 973.00 1.88 916 4.08 on 03/10/11
Bajaja Auto 1490.00 Sell Below 1477 1512.00 2.37 1400 5.21
HUL 326.60 Sell Below 322 331.00 2.80 304 5.59
* 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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