1. Daily Technical Outlook
10th August 2011
Indices Close % Chg. Mirroring the weak set of global market cues, the domestic
BSE SENSEX 16857.91 -0.78 markets witnessed a gap down opening. However, short
S&P CNX NIFTY 5072.85 -0.89 covering and selective buying support helped the markets
NIFTY AUG. FUT. 5083.40 -0.84 come off the lows of the day to move higher. However, the
India VIX 34.88 21.19
markets faltered close to 5195 resistance level on back of
profit taking and weak European market cues. The markets
S&P CNX NIFTY Technical Levels remained volatile during the day. The markets ended the day
Level 1 Level 2 Level 3
with moderate losses to close near the lows for the day. The
top losers for the day were Rel. Infra, Rel. Power, tata Steel,
Support 4987 4806 4757
Rel. Comm, Tata Motors, Ranbaxy, Infosys Tech., TCS,
Resistance 5195 5262 5364
Wipro and Rel. Capital.
Volume (Lacs Shares) Technically, the market breadth remained subdue amidst
09/08/11 08/08/11 % Chg. higher volumes, which is a negative sign for the markets.
BSE 2875 3212 -10.49 The global market set of cues are positive. The domestic
NSE 8476 7428 14.11 markets are likely to witness a gap up opening. The Nifty
Total 11351 10640 6.69 continues to trade below its 200-day SMA. Further the 50-
Source – BSE & NSE day SMA remains placed below the 100-day SMA. The
Nifty is trading below the February’11 ascending
Turnover ( ` Crores)
trendline. The MACD, RSI and KST are placed below their
09/08/11 08/08/11 % Chg.
respective averages. Moreso, the KST and MACD are
BSE 3398.30 2990.96 13.62 placed in the negative territory. These conditions would
NSE 15645.43 13420.86 16.58 result in selling pressure at regular intervals. The -DI line
NSE F&O 197832.06 168902.00 17.13 remains placed above the 43 level, indicating sellers
Total 216875.79 185313.82 17.03 have an upper hand. The ADX line is moving higher,
Source – BSE & NSE while the +DI line is moving down. The only silver lining
Market Breadth (NSE)
for the markets remains the Stochastic, RSI and KST are
placed in the over sold territory on the daily charts. The
Advances 344
Stochastic is also place above its average. These
Declines 1134
conditions would lead to regular bouts of short covering
Same 38 leading to relief rally. The market sentiment remains
Total 1516 negative. Further selling pressure is likely to be
A/D Ratio 0.30 : 1 witnessed amidst occasional bouts of relief rally and
Source – NSE volatility. In the meanwhile the markets would take cues
Moving Averages S&P CNX NIFTY from the news flow on the progress of monsoon, crude
50 Day SMA 5500.77
prices and the global markets. The support levels for Nifty
◄Negative are placed at 4987, 4806 and 4757. The Nifty faces
100 Day SMA 5568.25
resistance at the 5195, 5262, 5364 and 5500 levels.
200 Day SMA 5676.12 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16858 16808 17185 17511 18214 16482 16105 15402
S&P CNX NIFTY 5073 5062 5178 5283 5503 4957 4842 4621
NIFTY AUG. FUT. 5083 5069 5187 5290 5511 4966 4848 4627
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
ONGC 285.40 Buy Above 292 277 5.14 324 10.96
Hero Honda 1853.40 Buy Above 1860 1819 2.20 1950 4.84
Kotak Bank 448.05 Buy Above 451 440 2.44 475 5.32
PNB 1114.05 Buy Above 1120 1106 1.25 1150 2.68
* 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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