1. Daily Technical Outlook
6th February 2012
Indices * Close % Chg. Mirroring the lackluster global market cues, the domestic
BSE SENSEX 17604.96 0.99 markets witnessed a flat opening. The markets moved in a
S&P CNX NIFTY 5325.85 1.06 range bound trend for the better part of the day. Buying
NIFTY FEB. FUT. 5345.55 1.35 momentum gained in the afternoon trade as markets moved
India VIX 24.09 1.68 higher. The markets ended the day with moderate gains to
close near the highs for the day. Nifty closed just below its
S&P CNX NIFTY Technical Levels resistance level of 5327. The top gainers for the day were
Level 1 Level 2 Level 3 IDFC, Axis Bank, Grasim, HUL, Dr. Reddys, Maruti, BHEL,
Support 5161 5037 4987 Siemens, DLF and Sun Pharma.
Resistance 5327 5361 5400
Technically, the market breadth remained positive amidst
Moving Averages S&P CNX NIFTY lower volumes. The global market set of cues are
50 Day SMA 4873.99 positive. The domestic markets are likely to witness a
◄Negative
100 Day SMA 4955.95 firm opening. The Nifty has sustained above its 200-day
200 Day SMA 5190.04 ◄Positive
SMA for four consecutive trading days, which is a
positive sign for the markets. More over, the Nifty
Volume (Lacs Shares) * remains placed above its 50-day SMA and 100-day SMA.
03/02/12 02/02/12 % Chg. The MACD, RSI, KST and Stochastic are placed above
BSE 2835 3346 -15.27 their respective averages, which would help in triggering
NSE 8141 11366 -28.37
further buying support. The KST and MACD are also
placed in the positive territory. Nifty has moved above its
Total 10976 14712 -25.39
April’2011 descending trend line, which augurs well for
Turnover ( ` Crores) * the markets. The ADX line, -DI line are moving sideways.
03/02/12 02/02/12 % Chg.
However, the +DI line is moving higher and is placed at
38.37 indicating buyers are gaining strength. However, a
BSE 2930.76 4845.51 -39.52
few technical negatives continue to prevail and are likely
NSE 13650.35 16815.16 -18.82
to weigh on the market sentiment. The Stochastic and
NSE F&O 95491.94 96831.61 -1.38 RSI are placed in the over bought zone. The 50-day SMA
Total 112073.05 118492.28 -5.42 is also placed below the 100-day SMA. All these
conditions would lead to profit taking and selling
F&O Contracts Traded (NSE) *
pressure, especially at higher levels. The market
03/02/12 02/02/12 % Chg.
sentiment remains cautious as markets remain poised
Index Fut. 434880 575372 -24.42 crucially. Now, it is important that the markets witness
Stock Fut. 520450 771931 -32.58 follow up buying support at regular intervals for the Nifty
Index Opt. 2469359 2983223 -17.23 to move higher and test the 5400 resistance level.
Stock Opt. 147226 216416 -31.97 Intermediate bouts of profit taking and selling pressure
Total 3571915 4546942 -12.82 are likely to be witnessed. In the meanwhile the markets
would take cues from the earnings season, the global
Market Breadth (NSE) * markets and the crude prices. The support levels for Nifty
Advances 900 are placed at 5161, 5037, 4987, 4747 and 4563. The Nifty
Declines 579 faces resistance at the 5327, 5361 and 5400 levels.
Same 86
Total 1565
A/D Ratio 1.55 : 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
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
TGT of 175
Achieved
given Buy @
168 on
Allahabad Bank 173.45 Buy Above 175.00 171.40 2.06 183 4.57 03/02/12
HDFC Bank 506.25 Buy Above 508.00 489.00 3.74 550 8.27
M&M 710.80 Buy Above 713.00 690.50 3.16 763 7.01
* 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 17605 17539 17696 17787 18035 17448 17292 17044
S&P CNX NIFTY 5326 5305 5355 5385 5464 5276 5226 5147
NIFTY FEB. FUT. 5346 5322 5381 5416 5509 5287 5229 5135
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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