1. Daily Technical Outlook
21st July 2011
Indices Close % Chg. Mirroring the positive set of global market cues, the domestic
BSE SENSEX 18502.38 -0.81 markets witnessed a gap up opening. However, the markets
S&P CNX NIFTY 5567.05 -0.83 failed to capitalize on morning gains due to profit taking and
NIFTY JULY FUT. 5569.55 -0.98 selling pressure. This resulted in markets erasing the morning
India VIX 19.11 -0.72
gains to trade in the negative. The markets failed to show any
resilience against the sharp selling pressure and extended
S&P CNX NIFTY Technical Levels losses during the day. The markets remained volatile and
Level 1 Level 2 Level 3
choppy to close near the lows for the day with modest losses.
The top losers for the day were Wipro, Hindalco, JP
Support 5500 5364 5262
Associates, Hero Honda, Ranbaxy, Dr. Reddys, NTPC, Tata
Resistance 5600 5724 5885
Power, IDFC and HCL Tech.
Volume (Lacs Shares) Technically, the market breadth remained negative
20/07/11 19/07/11 % Chg. amidst higher volumes, which is a negative sign for the
BSE 3911 3411 14.66 markets. The global market set of cues are negative. The
NSE 6308 5215 20.96 domestic markets are likely to witness a flat opening. The
Total 10219 8626 18.47 Stochastic, RSI and KST have slipped below their
Source – BSE & NSE respective averages, which is a negative sign for the
markets. The MACD continues to remain placed below its
Turnover ( ` Crores)
average. These conditions would lead to regular bouts of
20/07/11 19/07/11 % Chg.
selling pressure. The prevailing negatives continue to
BSE 3165.65 2863.12 10.57 hold good and would lead to selling pressure at regular
NSE 11315.26 9900.08 14.29 intervals. Nifty continues to trade below its 200-day SMA.
NSE F&O 133492.86 118324.49 12.82 Moreover, the 50-day SMA remains placed below the 100-
Total 147973.77 131087.69 12.88 day SMA. The +DI line, ADX line and -DI line are moving
Source – BSE & NSE sideways indicating range bound trend. The market
Market Breadth (NSE)
sentiment remains tentative but is likely to display
occasional bouts of volatility and choppiness. Now, it is
Advances 485
important that the Nifty finds buying support at regular
Declines 979
intervals if the markets have to test its long term 200-day
Same 57 SMA, which is placed around the 5724 level. In the
Total 1521 meanwhile the markets would take cues from the
A/D Ratio 0.50 : 1 inflation data to be announced today, forthcoming
Source – NSE earnings season, news flow on the progress of monsoon,
Moving Averages S&P CNX NIFTY crude prices and the global markets. The support levels for
50 Day SMA 5506.70
Nifty are placed at 5500, 5364 and 5262. The Nifty faces
◄Negative resistance at the 5600, 5724, 5885 and 5911 levels.
100 Day SMA 5573.93
200 Day SMA 5723.37 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 18502 18581 18687 18872 19164 18396 18289 17997
S&P CNX NIFTY 5567 5589 5623 5679 5770 5533 5499 5409
NIFTY JULY FUT. 5570 5594 5634 5699 5804 5529 5489 5384
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 CMP Action Price Loss * (%) Target (%) Remarks
Hind Oil Explor. 181.35 Buy Above 183 179.50 1.91 190 3.83
Apollo Tyre 78.60 Sell Below 78 81.60 4.62 70 10.26
Ashok Leyland 48.75 Sell Below 48 50.00 4.17 43 10.42
Indian Hotels 78.35 Sell Below 77 80.00 3.90 71 7.79
* Stop Losses are to be considered on Closing basis.
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