1. Daily Technical Outlook
13th October 2011
Indices Close % Chg. Better then expected Infosys quarterly results helped the
BSE SENSEX 16958.39 2.55 domestic markets open higher. The markets drifted lower on
S&P CNX NIFTY 5099.40 2.51 back of lower then expected IIP numbers and weak European
NIFTY OCT. FUT. 5112.85 2.62 market cues. However, the markets managed a smart pull
India VIX 28.41 -6.23
back in the afternoon session. The markets showed no signs
of weakness and managed to hold on to the gains. The
S&P CNX NIFTY Technical Levels markets ended the day with handsome gains to close near
Level 1 Level 2 Level 3
the highs for the day. The top gainers for the day were
Infosys Tech., SBI, Jindal Steel, HCL Tech., TCS, Rel.
Support 4987 4757 4563
Comm., TCS, Kotak Bank, ICICI Bank and Sterlite.
Resistance 5161 5211 5325
Technically, the market breadth remained robust amidst
Volume (Lacs Shares) lower volumes. The global market set of cues are largely
12/10/11 11/10/11 % Chg. positive. The domestic markets are likely to witness a flat
BSE 1995 2259 -11.69 opening. The Nifty finally managed to close above the
NSE 5741 6351 -9.60 4987 level, which is a positive sign for the markets. The
Total 7736 8610 -10.15 KST, RSI, MACD and Stochastic are placed above their
Source – BSE & NSE respective averages, which would lead to regular bouts
of buying support. Moreover, the Nifty has moved above
Turnover ( ` Crores)
its 50-day SMA, which augurs well for the markets and is
12/10/11 11/10/11 % Chg.
a short-term positive for the markets. However, the
BSE 2716.64 2710.42 0.23 prevailing negatives continue to still hold good. The
NSE 12144.58 11459.63 5.98 Stochastic is placed in the over bought territory and is
NSE F&O 139168.12 103839.19 34.02 likely to lead to profit taking and selling pressure. The
Total 154029.34 118009.24 30.52 MACD continues to be placed in the negative territory,
Source – BSE & NSE which warns of impending selling pressure. The Nifty
Market Breadth (NSE)
continues to trade below its 200-day SMA. Moreso, the
50-day SMA remains placed below the 100-day SMA. All
Advances 1032
these conditions would lead to increased selling
Declines 409
pressure especially at higher levels. The ADX, +DI line
Same 75 and –DI line are moving sideways, indicating a range
Total 1516 bound trend. The market sentiment remains cautious.
A/D Ratio 2.52 : 1 Now, it is important that the Nifty above the 4987
Source – NSE resistance level for the markets to test the 5161-5211
Moving Averages S&P CNX NIFTY resistance zone. In the meanwhile the markets would
50 Day SMA 5034.70
take cues from the global markets and the earnings
◄Negative season. The support levels for Nifty are placed at 4987,
100 Day SMA 5277.18
4757, 4563, 4387 and 4291. The Nifty faces resistance at the
200 Day SMA 5459.65 ◄Negative
5161 and 5211 and 5325 levels.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16958 16851 17094 17230 17608 16716 16473 16094
S&P CNX NIFTY 5099 5069 5140 5181 5293 5028 4957 4845
NIFTY OCT. FUT. 5113 5078 5154 5196 5314 5036 4960 4842
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 401
Achieved
given @ 369
Aban Offshore 407.25 Buy Above 410 403.00 1.71 425 3.66 on 11/10/11
Crompton Greaves 165.50 Buy Above 166 157.00 5.42 186 12.05
McDowell 861.40 Buy Above 863 848.50 1.68 895 3.71
* 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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