1. Daily Technical Outlook
9th April 2012
Indices * Close % Chg. Mirroring subdue global market cues the domestic markets
BSE SENSEX 17486.02 -0.63 witnessed a negative opening. Profit taking and selling
S&P CNX NIFTY 5322.90 -0.66 pressure was witnessed during the day ahead of the long
NIFTY APRIL FUT. 5344.55 0.37 weekend. The volumes recorded remained tepid. Though,
India VIX 20.63 3.09 occasional bouts of short covering and selective buying
support were witnessed at lower levels, the markets failed to
S&P CNX NIFTY Technical Levels capitalize on it. Follow up buying support remained absent
Level 1 Level 2 Level 3 due to last trading day for this week. The markets ended the
Support 5161 5037 4955 day with moderate losses but closed near the highs for the
Resistance 5400 5681 5728 day. The top losers for the day were Jindal Steel, GAIL, JP
Associates, Bharti Airtel, Cipla, Sterlite, Rel. Infra, Sesa Goa
Moving Averages S&P CNX NIFTY and Rel. Comm.
50 Day SMA 5330.49
100 Day SMA 5076.09 Technically, the market breadth remained negative
200 Day SMA 5147.00 ◄ Crucial
amidst lower volumes. The global market cues are
negative. The domestic markets are likely to witness a
Volume (Lacs Shares) * subdue opening. As we had indicated the markets
04/04/12 03/04/12 % Chg. continued to witness a pull back rally on back. The
BSE 2542 2973 -14.50 MACD has moved above its average. More so the
NSE 6118 7080 -13.59
Stochastic, RSI and KST are already placed above their
respective averages. The KST has also moved in the
Total 8660 10053 -13.86
positive territory, which augurs well for the markets. All
Turnover ( ` Crores) * these conditions would lead to further buying support.
04/04/12 03/04/12 % Chg.
The Nifty continues to sustain above its long-term
moving average the 200-day SMA. Moreover, the Nifty’s
BSE 2126.50 2238.97 -5.02
50-day SMA remains placed above Nifty’s 100-day SMA
NSE 8796.81 10573.57 -16.80
and 200-day SMA, the later being called the “Golden
NSE F&O 69804.8 72685.66 -3.96 Cross” breakout. These conditions would help in
Total 80728.11 85498.20 -5.58 witnessing short covering and buying support at lower
levels. However, a few prevailing technical negatives
F&O Contracts Traded (NSE) *
continue to hold good and are likely to cap upside gains.
04/04/12 03/04/12 % Chg.
The Stochastic has moved in the over bought zone and
Index Fut. 318642 357593 -10.89 would lead to intermediate bouts of profit taking. The
Stock Fut. 345437 388776 -11.15 Nifty is placed below its 50-day SMA. The ADX line, +DI
Index Opt. 1833311 1834567 -0.07 line and –DI line continue to move sideways indicating a
Stock Opt. 99560 110073 -9.55 range bound trend. The market sentiment remains
Total 2596950 2691009 -0.44 cautious. Now, it is important that the markets witness
follow up buying support at higher levels for the Nifty to
Market Breadth (NSE) * move and sustain above the crucial 5400 resistance
Advances 702 level. In the meanwhile the markets would take cues from
Declines 771 the global markets and the crude prices in absence of
Same 82 domestic cues. The support levels for Nifty are placed at
Total 1555
5161, 5037 and 4955. The Nifty faces resistance at the 5400,
5681, 5728 and 5885 levels.
A/D Ratio 0.91 : 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
Fortis 102.35 Buy Above 103.50 99 4.35 113.00 9.18
Hexaware 122.95 Buy Above 124.50 122 2.01 130.00 4.42
REC 227.90 Buy Above 229.00 220 4.15 250.00 9.17
* Stop Losses are to be considered strictly on closing basis.
Stocks to watch out for today –
Stocks to watch out for today – AB Nuvo, Chambal Fert., GMDC, HCL tech., McDowell, NALCO, Pantaloon
Retail, Powergrid, Ranbaxy, REC, Sriram Transport, Ambuja Cements, Areva, Bajaj Auto, Bharti Airtel, HUL, Opto
Circuit, Sobha
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 17486 17492 17547 17609 17725 17431 17375 17259
S&P CNX NIFTY 5323 5322 5339 5355 5388 5306 5289 5256
NIFTY APRIL FUT. 5345 5343 5362 5380 5416 5326 5307 5271
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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