1. Daily Technical Outlook
3rd May 2012
Indices * Close % Chg. Mirroring the positive global market cues, the domestic
BSE SENSEX 17301.91 -0.10 markets opened on a firm note. Steady buying support was
S&P CNX NIFTY 5239.15 -0.17 witnessed as markets moved higher to trade above the 5300
NIFTY May FUT. 5246.95 -0.40 level. However, the markets once again failed to capitalize on
India VIX 18.54 4.04 morning gains as follow up buying support did not materialize.
Profit taking and selling pressure was witnessed at higher
S&P CNX NIFTY Technical Levels levels. The markets ended the day with flat to close near the
Level 1 Level 2 Level 3 lows for the day. The top losers for the day were Tata Motors,
Support 5161 5037 4955 Maruti, Tata Power, Grasim, Bajaj Auto, BPCL, Coal India,
Resistance 5400 5681 5728 ACC, Bank of Baroda and Powergrid
Moving Averages S&P CNX NIFTY Technically, the market breadth remained negative
50 Day SMA 5299.35 amidst higher volumes. The global market cues are
100 Day SMA 5138.48 divergent. The domestic markets are likely to witness a
200 Day SMA 5121.86 ◄ Crucial flat opening. The prevailing technical positives have
helped the markets to move higher. However, lack of
Volume (Lacs Shares) * follow up buying support at higher levels is leading to
02/05/12 30/04/12 % Chg. selling pressure. The KST, Stochastic and RSI are still
BSE 1810 1638 10.50 placed above their respective averages. The Nifty
NSE 5704 5394 5.74 continues to sustain above its long-term moving average
Total 7514 7032 6.85
the 200-day SMA. Moreover, the Nifty’s 50-day SMA
remains placed above Nifty’s 100-day SMA and 200-day
Turnover ( ` Crores) * SMA, the later being called the “Golden Cross” breakout.
02/05/12 30/04/12 % Chg. Moreso, the Nifty’s 100-day SMA has crossed above the
BSE 1805.40 1678.89 7.54 Nifty’s 200-day SMA. These positive technical conditions
NSE 9575.59 8860.99 8.06
would prompt buying support at regular intervals.
However, the negative technical conditions still hold
NSE F&O 69746.75 66255.80 5.27
good and would lead to profit taking and selling pressure
Total 81127.74 76795.68 5.64
at higher levels. The MACD is placed below its average.
F&O Contracts Traded (NSE) * The KST has once again slipped in the negative territory.
The Nifty remains placed below its 50-day SMA, which is
30/04/12 30/04/12 % Chg.
a short term negative. The ADX line, +DI line and –DI line
Index Fut. 317064 328587 -3.51
continue to move sideways, indicating that markets
Stock Fut. 380083 379160 0.24 would continue to remain range bound. The market
Index Opt. 1824301 1705141 6.99 sentiment remains cautious. Now, it is important that the
Stock Opt. 118464 122172 -3.04 markets witness follow up buying support at higher
Total 2639912 2535060 4.55 levels for the Nifty to sustain above the 5300 level. The
200-day SMA remains a crucial support level for the
Market Breadth (NSE) * markets. In the meanwhile the markets would take cues
Advances 660 from the forthcoming Q4 results season along with
Declines 792 global markets and the crude prices. The support levels for
Same 91 Nifty are placed at 5161, 5037 and 4955. The Nifty faces
Total 1543 resistance at the 5400, 5681, 5728 and 5885 levels.
A/D Ratio 0.83 : 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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The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. 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 Close Action Price Loss * (%) Target (%) Remarks
Apollo Tyre 87.80 Sell Below 87 89.25 2.59 82 5.75
Century Textiles 315.55 Sell Below 313 319.00 1.92 300 4.15
Cipla 318.05 Buy Above 319 314.00 1.57 330 3.45
* 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 17302 17333 17401 17500 17667 17234 17166 17000
S&P CNX NIFTY 5239 5248 5270 5302 5355 5217 5195 5142
NIFTY MAY FUT. 5247 5262 5287 5327 5393 5221 5196 5130
Keynote Capitals Ltd.
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The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. Stocks to watch out today
3i Infotech, Allahabad Bank, Andhra Bank, Areva, Bharat Forge, Bharti Airtel, Cummins, DCHL, Dena Bank, Divis
Labs, DLF, Educomp, Federal Bank, GSPL, HOECL, Indian Hotels, Piramal Healthcare, PNB, PTC, Sun TV,
Syndicate Bank, Tata Chemicals, TCS, Titan, TTK Prestige, Uniphos
APIL, Ashok Leyland, Balrampur Chini, BHEL, BPCL, Dish TV, Exide, FT, GE Shipping, ITC, Maruti, Max India,
NCC, NTPC, PFC, Punj Lloyd, Renuka Sugar, Siemens, ShriramTransport, Tata Motors, Tata Motors DVR, VIP
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