1. Daily Technical Outlook
3rd April 2012
Indices * Close % Chg. Mirroring the positive global market cues the domestic
BSE SENSEX 17478.15 0.42 markets witnessed a positive opening. The markets
S&P CNX NIFTY 5317.90 0.42 witnessed steady buying support and short covering, which
NIFTY APRIL FUT. 5350.65 0.33 helped the markets move higher. However, the volume
India VIX 20.88 -6.70 recorded remained on the lower side. The markets showed
no signs of weakness, though occasional bouts of profit
S&P CNX NIFTY Technical Levels taking were visible. The markets ended the day with modest
Level 1 Level 2 Level 3 gains to close near the highs for the day. The top gainers for
Support 5161 5037 4955 the day were JP Associates, Rel. Infra, Rel. Power, HCL
Resistance 5400 5681 5728 Tech., NTPC, DLF, TCS, Cairn India, Siemens and Kotak
Bank.
Moving Averages S&P CNX NIFTY
50 Day SMA 5318.76 Technically, the market breadth remained robust amidst
100 Day SMA 5072.45 lower volumes. The global market cues are positive. The
200 Day SMA 5147.81 ◄ Crucial
domestic markets are likely to witness a firm opening. As
we had indicated the markets continued to witness a pull
Volume (Lacs Shares) * back rally on back. The Stochastic, RSI and KST are
02/04/12 30/03/12 % Chg. placed above their respective averages, which would
BSE 2160 3149 -31.41 lead to further buying support. More so the Nifty also
NSE 5859 7389 -20.71
remains placed above its 200-day SMA. Moreover, the
Nifty’s 50-day SMA remains placed above Nifty’s 100-day
Total 8019 10538 -23.90
SMA and 200-day SMA, the later being called the “Golden
Turnover ( ` Crores) * Cross” breakout. These conditions would help in
02/04/12 30/03/12 % Chg.
witnessing short covering and buying support at lower
levels. However, a few prevailing technical negatives
BSE 2049.98 3682.73 -44.34
continue to hold good and are likely to cap upside gains.
NSE 9253.96 12052.90 -23.22
The Nifty is placed below its 50-day SMA, which is a
NSE F&O 78984.25 88628.14 -10.88 short term negative but is on verge of a breakout. The
Total 90288.19 104363.77 -13.49 KST is placed in the negative territory but is on verge of
moving in the positive territory. The MACD is placed
F&O Contracts Traded (NSE) *
below its average but is on verge of a breakout. The ADX
02/04/12 30/03/12 % Chg.
line, +DI line and –DI line continue to move sideways
Index Fut. 415070 555320 -25.26 indicating a range bound trend. The market sentiment
Stock Fut. 358009 418011 -14.35 remains cautious. Now, it is important that the markets
Index Opt. 2058765 2253637 -8.65 witness follow up buying support at higher levels for the
Stock Opt. 98629 99970 -1.34 Nifty to move higher and test the crucial 5400 resistance
Total 2930473 3326938 -5.90 level. In the meanwhile the markets would take cues from
the global markets and the crude prices in absence of
Market Breadth (NSE) * domestic cues. The support levels for Nifty are placed at
Advances 1105 5161, 5037 and 4955. The Nifty faces resistance at the 5400,
Declines 405 5681, 5728 and 5885 levels.
Same 54
Total 1564
A/D Ratio 2.73 : 1
NOTE - *- Source – BSE & NSE
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
Bajaj Holdings 829.30 Buy Above 831.00 803.10 3.36 892.00 7.34
Cipla 309.15 Buy Above 311.00 304.50 2.09 325.00 4.50
DLF 208.00 Buy Above 210.00 198.75 5.36 235.00 11.90
McLeod Russel 280.35 Buy Above 282.00 273.90 2.87 300.00 6.38
* Stop Losses are to be considered strictly on closing basis.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 17478 17464 17545 17611 17759 17397 17316 17168
S&P CNX NIFTY 5318 5309 5340 5362 5415 5287 5257 5204
NIFTY APRIL FUT. 5351 5341 5382 5413 5485 5310 5269 5197
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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