1. Daily Technical Outlook
22nd November 2011
Indices Close % Chg. Mirroring the weak set of global market cues, the domestic
BSE SENSEX 15946.10 -2.60 markets witnessed a gap down opening. Sustained selling
S&P CNX NIFTY 4778.35 -2.60 pressure was witnessed as markets drifted lower breaching
NIFTY NOV. FUT. 4783.30 -2.67 the 4800 level. The markets failed to show any resilience
India VIX 28.61 7.63
against selling pressure as buying support remained absent.
The markets ended the day with large losses to close near
S&P CNX NIFTY Technical Levels the lows for the day. The top losers for the day were Sesa
Level 1 Level 2 Level 3
Goa, SAIL, Tata Motors, Sterlite, BHEL, ICICI Bank, bajaj
Auto, Jindal Steel, Hindalco and Ranbaxy.
Support 4747 4563 4387
Resistance 4987 5037 5161 Technically, the market breadth remained negative
amidst lower volumes. The global market set of cues are
Volume (Lacs Shares) mix. The domestic markets are likely to witness a flat
21/11/11 18/11/11 % Chg. opening. The Nifty has closed below the 4800 level and is
BSE 2077 2501 -16.95 on its way to test the 4747 support level. The Nifty
NSE 6032 7092 -14.95 continues to trade below its 50-day SMA, which is a short
Total 8109 9593 -15.47 term negative. The RSI, KST and MACD are placed below
Source – BSE & NSE their respective averages. Moreso, the KST and MACD
are placed in the negative and warns of impending
Turnover ( ` Crores)
selling pressure. The Stochastic has once again slipped
21/11/11 18/11/11 % Chg.
below its average. The Nifty continues to trade below its
BSE 2078.91 2348.04 -11.46 200-day SMA. Further the 50-day SMA remains placed
NSE 9096.85 10735.37 -15.26 below the 100-day SMA. All these conditions would lead
NSE F&O 172938.68 195058.74 -11.34 to selling pressure. The ADX, and +DI line are moving
Total 184114.44 208142.15 -11.54 sideways, but –DI line has witnessed a breakout and is
Source – BSE & NSE placed at the 36.69 level indicating sellers have an upper
Market Breadth (NSE)
hand. The only saving grace for the market remains the
Stochastic and RSI both being placed in the over sold
Advances 356
zone, which would lead to intermediate bouts of short
Declines 1138
covering. The market sentiment remains negative. The
Same 45 markets are likely to witness further selling pressure and
Total 1539 Nifty is likely to test the 4747 support level, amidst
A/D Ratio 0.31 : 1 intermediate bouts of volatility due to derivative segment
Source – NSE expiry. In the meanwhile the markets would take cues
Moving Averages S&P CNX NIFTY from the global markets and crude prices as Rupee
50 Day SMA 5059.15
trades above the 52 level against the dollar. The support
◄Negative levels for Nifty are placed at 4747, 4563 and 4387. The Nifty
100 Day SMA 5200.10
faces resistance at the 4987, 5037, 5161, 5230 and 5325.
200 Day SMA 5369.59 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 15946 16048 16195 16445 16841 15799 15651 15254
S&P CNX NIFTY 4778 4806 4847 4915 5024 4738 4697 4588
NIFTY NOV. FUT. 4783 4810 4852 4921 5031 4742 4700 4590
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
TGT of 380
Achieved
given Sell @
397.50 on
Aban 354.75 Sell Below 350.00 363.00 3.71 322.00 8.00 16/11/11
DLF 195.75 Sell Below 193.00 201.00 4.15 176.00 8.81
GSPL 88.75 Sell Below 87.40 89.70 2.63 82.50 5.61
TGT of 720
Achieved
given Sell @
752.50 on
M&M 719.20 Sell Below 715.00 740.00 3.50 660.00 7.69 16/11/11
* Stop Losses are to be considered strictly on Closing basis.
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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