1. Daily Technical Outlook
28th November 2011
Indices Close % Chg. Mirroring the subdue set of global market cues; the domestic
BSE SENSEX 15695.43 -1.03 markets witnessed a negative opening. However, the
S&P CNX NIFTY 4710.05 -0.98 markets managed to move higher on back of short covering
NIFTY DEC. FUT. 4710.95 -1.48 and selective buying support. But the overall trend remained
India VIX 29.12 4.18
range bound and lackluster. Increased selling pressure in the
afternoon trade saw the markets drift lower sharply. The
S&P CNX NIFTY Technical Levels markets once again failed to show any resilience. The
Level 1 Level 2 Level 3
markets ended the day with moderate losses to close near
the lows for the day. The top losers for the day were
Support 4563 4481 4387
Hindalco, Rel. Power, Maruti, Sterlite, Sesa Goa, SAIL, Hero
Resistance 4747 4987 5037
Motors, Tata Steel, Jindal Steel and HUL.
Volume (Lacs Shares) Technically, the market breadth remained positive amidst
25/11/11 24/11/11 % Chg. lower volumes, indicating selling in frontline stocks. The
BSE 2067 2169 -4.70 global market set of cues are mix. The domestic markets
NSE 6292 8391 -25.02 are likely to witness a positive opening. The prevailing
Total 8359 10560 -20.84 technical negatives continued to weigh on the market
Source – BSE & NSE sentiment as Nifty once again slipped below the crucial
4747 level. The Nifty continues to trade below its 50-day
Turnover ( ` Crores)
SMA, which is a short term negative. The KST and MACD
25/11/11 24/11/11 % Chg.
are placed in the negative and also below their respective
BSE 2161.33 2012.91 7.37 averages warn of impending selling pressure. The Nifty
NSE 9939.56 12222.05 -18.68 continues to trade below its 200-day SMA. Further the 50-
NSE F&O 85523.22 259284.55 -67.02 day SMA remains placed below the 100-day SMA. All
Total 97624.11 273519.51 -64.31 these conditions would lead to further selling pressure
Source – BSE & NSE especially at higher levels. However, the markets will
Market Breadth (NSE)
witness occasional bouts of short covering and selective
buying support as the Stochastic and RSI are placed
Advances 824
near the over sold zone and also placed above their
Declines 630
respective averages. The ADX and +DI line are moving
Same 73 sideways, but –DI line is placed at 36.45 level. The
Total 1527 markets are poised crucially. If Nifty continues to trade
A/D Ratio 1.31 : 1 below the 4747 level, then it could test the 4563 level. In
Source – NSE the meanwhile the markets would take cues from the
Moving Averages S&P CNX NIFTY global markets and crude prices as Rupee trades above
50 Day SMA 5033.17
the 52.50 level against the dollar. The support levels for
◄Negative Nifty are placed at 4563, 4481 and 4387. The Nifty faces
100 Day SMA 5168.52
resistance at the 4747, 4987, 5037 and 5161.
200 Day SMA 5355.11 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 15695 15744 15842 15989 16235 15597 15499 15254
S&P CNX NIFTY 4710 4723 4754 4798 4872 4680 4649 4575
NIFTY DEC. FUT. 4711 4726 4763 4816 4906 4674 4636 4546
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
Century Textiles 269.65 Sell Below 267.00 277.00 3.75 245.00 8.24
GSPL 84.45 Sell Below 84.00 85.80 2.14 80.00 4.76
Hindalco 113.50 Sell Below 112.50 115.00 2.22 107.00 4.89
* 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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