1. Daily Technical Outlook
18th July 2011
Indices Close % Chg. Mirroring the mix set of global market cues, the domestic
BSE SENSEX 18561.92 -0.30 markets witnessed a flat opening. Selective buying support
S&P CNX NIFTY 5581.10 -0.33 helped the markets move higher, which also led to short
NIFTY JULY FUT. 5586.95 -0.24 covering. However, lack of follow up buying support and
India VIX 19.95 -0.10
sustained profit taking at higher levels saw the markets move
in the negative. The volumes recorded remained tepid. as
S&P CNX NIFTY Technical Levels markets remained range bound for the rest of the day with
Level 1 Level 2 Level 3
markets struggling to find a direction. The markets ended the
day flat with modest losses. The top losers for the day were
Support 5500 5364 5262
Tata Motors, GAIL, Rel. Power, Sesa Goa, Kotak Bank,
Resistance 5600 5734 5885
ONGC, HDFC, Hero Honda, Cipla and Rel. Infra.
Volume (Lacs Shares) Technically, the market breadth remained weak amidst
15/07/11 14/07/11 % Chg. lower volumes. The global market set of cues are mix.
BSE 2141 2592 -17.40 The domestic markets are likely to witness a flat opening.
NSE 4720 6303 -25.11 The prevalent negatives and lack of confidence at higher
Total 6861 8895 -22.86 levels is affecting the markets. The Nifty continues to
Source – BSE & NSE trade below its 200-day SMA. Moreover, the 50-day SMA
remains placed below the 100-day SMA. The RSI and the
Turnover ( ` Crores)
KST are placed below their respective averages on the
15/07/11 14/07/11 % Chg.
daily charts. These conditions would lead to increased
BSE 2098.74 2782.36 -24.57 selling pressure especially at higher levels. The
NSE 8815.95 11735.25 -24.88 Stochastic and MACD remain placed above their
NSE F&O 103757.51 152426.17 -31.93 respective averages, which would lead to regular bouts
Total 114672.20 166943.78 -31.31 of buying support. The +DI line, the ADX line and -DI line
Source – BSE & NSE are moving sideways indicating markets are likely to
Market Breadth (NSE)
remain range bound. The volumes would continue to
remain tepid but occasional bouts of volatility and
Advances 622
choppiness would be witnessed. The market sentiment
Declines 816
continues to remain tentative. Now, it is important that
Same 69 the Nifty finds buying support at regular intervals if the
Total 1507 markets have to test its long term 200-day SMA, which is
A/D Ratio 0.76 : 1 placed around the 5731 level. In the meanwhile the
Source – NSE markets would take cues from the forthcoming earnings
Moving Averages S&P CNX NIFTY season, news flow on monsoon, crude prices and the
50 Day SMA 5504.89
global markets. The support levels for Nifty are placed at
◄Negative 5500, 5364, 5262 and 5175. The Nifty faces resistance at the
100 Day SMA 5568.14
5600, 5734, 5885 and 5911 levels.
200 Day SMA 5731.30 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 18562 18671 18828 19094 19517 18405 18247 17824
S&P CNX NIFTY 5581 5592 5621 5661 5730 5552 5523 5454
NIFTY JULY FUT. 5587 5597 5630 5673 5750 5554 5520 5444
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 CMP Action Price Loss * (%) Target (%) Remarks
APIL 574.35 Buy Above 579.00 564.00 2.59 612.00 5.70
Aurobindo
Pharma 173.85 Buy Above 176.00 168.00 4.55 193.00 9.66
Chennai Petro 228.70 Buy Above 233.00 225.00 3.43 250.00 7.30
Exide 168.75 Buy Above 171.00 166.00 2.92 180.00 5.26
* Stop Losses are to be considered 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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