1. Daily Technical Outlook
2nd November 2011
Indices Close % Chg. Mirroring the weak set of global market cues, the domestic
BSE SENSEX 17480.83 -1.27 markets witnessed a negative opening. Selling pressure was
S&P CNX NIFTY 5257.95 -1.29 witnessed in early morning deals as markets traded with a
NIFTY NOV. FUT. 5291.40 -1.04 negative bias. The markets showed no resilience against
India VIX 24.02 6.00
selling pressure as markets lacked buying support. The
markets ended the day with moderate losses to close near
S&P CNX NIFTY Technical Levels the lows for the day. The top losers for the day were ICICI
Level 1 Level 2 Level 3
Bank, Dr. Reddys, Rel. Infra, M&M, Sterlite, HCL Tech., Rel.
Comm., Tata Motors, ITC, Tata Steel.
Support 5230 5161 4987
Resistance 5325 5405 5517 Technically, the market breadth remained negative
amidst lower volumes. The global market set of cues are
Volume (Lacs Shares) negative. The domestic markets are likely to witness a
01/11/11 31/10/11 % Chg. gap down opening. The Nifty remains placed above its
BSE 2031 2069 -1.84 50-day SMA, which is a short term positive and triggering
NSE 5525 6093 -9.32 the current phase of uptrend. The, RSI, KST and MACD
Total 7556 8162 -7.42 are placed above their respective averages and in the
Source – BSE & NSE positive territory. All these conditions would lead to
buying support at lower levels. However, the prevailing
Turnover ( ` Crores)
technical negatives are likely to weigh on the bourses.
01/11/11 31/10/11 % Chg.
The Stochastic is placed below its average and is also
BSE 2238.26 2190.68 2.17 placed near the over bought zone on the daily charts.
NSE 9772.01 10712.71 -8.78 The Nifty continues to trade below its 200-day SMA.
NSE F&O 93324.75 73233.00 27.44 Further the 50-day SMA remains placed below the 100-
Total 86136.39 day SMA. All these conditions would lead to selling
Source – BSE & NSE pressure and profit taking especially at higher levels.
Market Breadth (NSE)
The ADX and –DI line are moving sideways, but +DI line
is placed at 34.21 but has started moving lower. The
Advances 501
market sentiment remains cautious as Nifty poised
Declines 963
crucially. Now, it is important that the Nifty moves and
Same 72 sustains above the 5325 level for it to move higher and
Total 1536 test the 200-day SMA. In the meanwhile the markets
A/D Ratio 0.52 : 1 would take cues from the global markets and the
Source – NSE earnings season. The support levels for Nifty are placed at
Moving Averages S&P CNX NIFTY 5230, 5161 and 4987. The Nifty faces resistance at the 5325,
50 Day SMA 5015.19
5405, 5517, 5634 and 5681.
◄Negative
100 Day SMA 5235.16
200 Day SMA 5404.29 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 17481 17522 17621 17761 18000 17382 17282 17043
S&P CNX NIFTY 5258 5269 5300 5342 5414 5227 5196 5124
NIFTY NOV. FUT. 5291 5296 5331 5370 5444 5257 5222 5148
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
ABB 687.85 Sell Below 684.00 700.00 2.34 650.00 4.97
Cipla 289.00 Sell Below 286.00 292.50 2.27 272.00 4.90
HCC 27.75 Sell Below 27.00 28.35 5.00 24.00 11.11
* Stop Losses are to be considered on Closing basis only.
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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