1. Daily Technical Outlook
22nd August 2011
Indices Close % Chg. Mirroring the negative set of global market cues, the domestic
BSE SENSEX 16141.67 -1.99 markets witnessed a gap down opening. Sustained selling
S&P CNX NIFTY 4845.65 -1.99 pressure was witnessed as markets drifted lower. Buying
NIFTY AUG. FUT. 4850.85 -1.80 support remained elusive as market sentiment remained
India VIX 29.19 6.33
negative. The markets failed to show any resilience against
sustained selling pressure as Nifty traded below the 4900
S&P CNX NIFTY Technical Levels level. The markets ended the day with moderate losses to
Level 1 Level 2 Level 3
close near the lows for the day. The top gainers for the day
were Infosys Tech., Tata Motors, L&T, BHEL, Axis Bank,
Support 4806 4757 4481
ICICI Bank, Sterlite, Dr. Reddys, TCS and Cairn India.
Resistance 4987 5195 5262
Technically, the market breadth remained negative
Volume (Lacs Shares) amidst higher volumes, which is a negative sign for the
19/08/11 18/08/11 % Chg. markets. The global market set of cues are mix. The
BSE 2561 2299 11.40 domestic markets are likely to witness a flat opening. The
NSE 6993 6332 10.45 Stochastic, MACD, RSI and KST are placed below their
Total 9554 8631 10.70 respective averages. The Nifty continues to trade below
Source – BSE & NSE its 200-day SMA. Further the 50-day SMA remains placed
below the 100-day SMA. The Nifty remains placed below
Turnover ( ` Crores)
the February’11 ascending trendline. The -DI line and the
19/08/11 18/08/11 % Chg.
ADX line remains placed above the 34 level, indicating
BSE 2763.78 2241.65 23.29 sellers have an upper hand. The +DI line continues to
NSE 12649.86 10510.20 20.36 move lower. Moreso, the KST and MACD are placed in
NSE F&O 190679.86 151029.94 26.25 the negative territory. These conditions would result in
Total 206093.50 163781.79 25.83 selling pressure at regular intervals. However, the
Source – BSE & NSE MACD, RSI, KST and Stochastic are placed in the over
Market Breadth (NSE)
sold territory on the daily charts. This condition would
lead to regular bouts of short covering and buying
Advances 353
support leading to relief rally. The market sentiment
Declines 1127
remains negative. The markets will display intermediate
Same 44 bouts of volatility and choppiness. In the meanwhile the
Total 1524 markets would take cues from the newsflow on Anna
A/D Ratio 0.31 : 1 Hazare’s campaign, global markets and news flow on the
Source – NSE progress of monsoon. The support levels for Nifty are
Moving Averages S&P CNX NIFTY placed at 4806, 4757 and 4481. The Nifty faces resistance at
50 Day SMA 5429.96
the 4987, 5195, 5262, 5364 and 5500 levels.
◄Negative
100 Day SMA 5535.83
200 Day SMA 5640.18 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16142 16139 16290 16439 16739 15990 15839 15539
S&P CNX NIFTY 4846 4845 4894 4943 5040 4797 4748 4650
NIFTY AUG. FUT. 4851 4852 4902 4954 5056 4800 4750 4647
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
Apollo Tyre 52.90 Sell Below 52.00 55.25 6.25 45.00 13.46
Areva 210.85 Sell Below 208.00 212.50 2.16 198.00 4.81
Bharti Airtel 383.65 Sell Below 380.00 389.00 2.37 360.00 5.26
NHPC 23.20 Sell Below 23.00 23.75 3.26 21.50 6.52
Renuka Sugar 52.55 Sell Below 51.00 53.75 5.39 45.00 11.76
Voltas 116.85 Sell Below 115.00 119.50 3.91 105.00 8.70
* Stop Losses are to be considered on Closing basis only.
Disclaimer
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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