1. Daily Technical Outlook
28th October 2011
Indices Close % Chg. Mirroring the positive set of global market cues, the domestic
BSE SENSEX 17288.83 0.20 markets witnessed a flat but positive opening. The overall
S&P CNX NIFTY 5201.80 0.20 trend remained range bound due to truncated trading
NIFTY NOV. FUT. 5232.05 0.06 session. Selling pressure was witnessed at higher levels as
India VIX 22.69 1.70
markets came off the highs for the day. The markets
managed to close above the 5200 level to end the day with
S&P CNX NIFTY Technical Levels marginal gains. It closed near the lows for the day. The top
Level 1 Level 2 Level 3
gainers for the day were Hindalco, Coal India, Cipla, SBI,
PNB, Bharti Airtel, Grasim, Ranbaxy, Sterlite and L&T.
Support 5161 4987 4757
Resistance 5230 5325 5416 Technically, the market breadth remained robust amidst
lower volumes. The global market set of cues are
* Volume (Lacs Shares) positive. The domestic markets are likely to witness a
26/10/11 25/10/11 % Chg. gap up opening. The Nifty remains placed above its 50-
BSE 857 1740 -50.75 day SMA, which is a short term positive and triggering
NSE 1372 6666 -79.41 the current phase of uptrend. Moreso, the Stochastic,
Total 2229 8406 -73.48
RSI, KST and MACD are placed above their respective
Source – BSE & NSE averages and in the positive territory. All these
conditions would lead to buying support at regular
* Turnover ( ` Crores) intervals. However, the prevailing technical negatives
26/10/11 25/10/11 % Chg. continue are likely to cap the upside gains. The
BSE 748.08 2438.04 -69.32 Stochastic is placed in the over bought zone on the daily
NSE 2185.33 14791.92 -85.23 charts and would lead to profit taking and selling
NSE F&O 20737.23 248830.95 -91.67 pressure at regular intervals. The Nifty continues to trade
Total 23670.64 266060.91 -91.10 below its 200-day SMA. Further the 50-day SMA remains
Source – BSE & NSE placed below the 100-day SMA. All these conditions
would lead to selling pressure and profit taking
Market Breadth (NSE)
especially at higher levels. The ADX, +DI line and –DI
Advances 1200 line are moving sideways, indicating a range bound
Declines 237 trend. The market sentiment remains cautious as Nifty
Same 54 index has managed to sustain above the 5161 level. Now,
Total 1491 it is important that the Nifty continues to sustain above
A/D Ratio 5.06 : 1 the 5161 level for it to move higher and test the 5230 level
Source – NSE followed by the 5325 level. In the meanwhile the markets
Moving Averages S&P CNX NIFTY
would take cues from the global markets and the
earnings season. The support levels for Nifty are placed at
50 Day SMA 4999.59
◄Negative 5161, 4987, 4757, 4563 and 4387. The Nifty faces resistance
100 Day SMA 5241.76
at the 5230, 5325 and 5416.
200 Day SMA 5411.67 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 17289 17304 17335 17381 17458 17258 17227 17150
S&P CNX NIFTY 5202 5206 5215 5229 5252 5192 5183 5160
NIFTY NOV. FUT. 5232 5239 5251 5269 5299 5220 5209 5178
* Figures not strictly comparable as 26/10/11 was a truncated trading session.
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
APIL 530.90 Buy Above 535.00 523.00 2.24 560.00 4.67
Fortis 123.30 Buy Above 124.00 121.00 2.42 130.00 4.84
Sun Pharma 503.75 Buy Above 506.00 490.00 3.16 540.00 6.72
* 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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