1. Daily Technical Outlook
9th January 2012
Indices * Close % Chg.
The domestic markets witnessed a negative opening. The
BSE SENSEX 15848.80 -0.12
markets remained listless and lackluster trading was
S&P CNX NIFTY 4746.90 -0.15
witnessed in Saturday’s special truncated trading session.
NIFTY JAN. FUT. 4760.00 -0.25
The markets ended the day flat to close near the lows for the
India VIX 25.65 0.74 day. The top losers for the day were JP Assocaites, Kotak
S&P CNX NIFTY Technical Levels Bank, Ambuja Cements, ICICI Bank, Bajaj Auto, Hindalco,
Rel. Infra, Cipla, HDFC Bank and HCL Tech.
Level 1 Level 2 Level 3
Support 4563 4481 4353
The global market set of cues are largely negative. The
Resistance 4747 4987 5037 domestic markets are likely to witness a subdue opening.
Moving Averages S&P CNX NIFTY
The Nifty has closed just below the crucial 4747 level.
The MACD, RSI, and KST are placed above their
50 Day SMA 4896.13
◄Negative respective averages, which would help in fueling buying
100 Day SMA 4947.23
support at lower levels. However, the prevailing technical
200 Day SMA 5256.67 ◄Negative negatives continue to hold good and are likely to weigh
Volume (Lacs Shares) * on market sentiment. The Stochastic ha slipped below its
average and is placed near the over bought zone, which
07/01/12 06/01/12 % Chg.
would lead to profit taking and selling pressure. The KST
BSE 464 1776 -73.87
and MACD are still placed in the negative territory and
NSE 905 5441 -83.38 warn of impending selling pressure. The Nifty continues
Total 1369 7217 -81.04 to trade below its 50-day SMA and 200-day SMA. The 50-
day SMA also remains placed below the 100-day SMA. All
Turnover ( ` Crores) *
these conditions would lead to selling pressure
07/01/12 06/01/12 % Chg. especially at higher levels. The ADX, -DI line and +DI line
BSE 366.36 1968.27 -81.39 are moving sideways, indicating a range bound trend.
NSE 1094.91 8937.78 -87.75 The market sentiment remains cautious. The Nifty
NSE F&O 8883.41 108708.77 -91.83 continues to struggle around the 4747 level. It is now
Total 10344.68 119614.82 -91.35 important that the Nifty moves and close above this
crucial level decisively for the markets to witnesses any
F&O Contracts Traded (NSE) * kind of follow up buying support. In case it fails then
07/01/12 06/01/12 % Chg. increased selling pressure is likely to be witnessed and
Index Fut. 49528 647878 -92.36 the Nifty could test the 4563 support level. In the
Stock Fut. 53044 512150 -89.64 meanwhile the markets would take cues from the
Index Opt. 252890 3318402 -92.38
forthcoming earnings season, which would kick start
from this week, the global markets and the crude prices.
Stock Opt. 19557 145958 -86.60
The support levels for Nifty are placed at 4563, 4481, 4353
Total 375019 4624388 -69.02
and 4003. The Nifty faces resistance at the 4747, 4987, 5037
Market Breadth (NSE) * and 5161 levels.
Advances 930
Declines 380
Same 52
Total 1362
NOTE: THE DATA PERTAINING TO Volumes, Turnover and F&O
A/D Ratio 2.45 : 1 Contracts Traded are not strictly comparable due to Saturday session
NOTE - *- Source – BSE & NSE being only 90 minutes session.
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
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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
Bharti Airtel 330.90 Sell Below 328 336.00 2.44 310 5.49
IRB 125.15 Sell Below 124 125.80 1.62 120 3.07
JP Associates 51.85 Sell Below 51 52.80 3.53 47 7.84
* 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 15849 15861 15888 15926 15991 15823 15796 15731
S&P CNX NIFTY 4747 4750 4757 4766 4782 4740 4733 4717
NIFTY JAN. FUT. 4760 4763 4772 4783 4803 4752 4743 4723
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