1. Daily Technical Outlook
8th December 2011
Indices Close % Chg. The domestic markets witnessed a positive opening. Buying
BSE SENSEX 16877.06 0.43 support was witnessed in the morning trade, which helped the
S&P CNX NIFTY 5062.60 0.47 markets move above the 5100 level. This also led to short
NIFTY DEC. FUT. 5086.10 0.40 covering helping markets move higher further. Profit taking
India VIX 26.46 5.75 and selling pressure was witnessed at higher levels but the
markets managed to hold on to the gains. The overall trend
S&P CNX NIFTY Technical Levels remained range bound for the better part of the day. The
Level 1 Level 2 Level 3 markets ended the day with modest gains to close near the
Support 5037 4987 4747 highs for the day. The top gainers for the day were Rel.
Resistance 5161 5230 5360
Comm., Wipro, HCL Tech, JP Associates, SAIL, Rel. Infra,
SBI, Jindal Steel, Sterlite and Infosys Tech.
Volume (Lacs Shares)
Technically, the market breadth remained neutral amidst
07/12/11 05/12/11 % Chg.
higher volumes. The global market set of cues are mix.
BSE 2377 1720 38.20 The domestic markets are likely to witness a flat opening.
NSE 6140 4991 23.03 The Nifty remains placed above its 50-day SMA, which is
Total 8517 6711 26.91 a short term positive. The positive divergence pattern
Source – BSE & NSE formed by Nifty also continues to hold good and would
Turnover ( ` Crores) continue to give the necessary impetus for the current
07/12/11 05/12/11 % Chg.
rally to continue. The Stochastic, KST, MACD and RSI are
placed above their respective averages, which would
BSE 3092.83 1823.04 69.65
lead to further buying support at regular intervals.
NSE 10563.76 8149.31 29.63
However, the prevailing technical negatives continue to
NSE F&O 111622.45 88751.86 25.77 hold good. The Stochastic is placed in the over bought
Total 125279.04 98724.21 26.90 zone, which would result in intermediate bouts of profit
Source – BSE & NSE
taking. The KST and MACD are placed in the negative.
Market Breadth (NSE) Moreso, the Nifty continues to trade below its 200-day
Advances 778 SMA. Further the 50-day SMA remains placed below the
Declines 692
100-day SMA. All these conditions would lead to selling
pressure at higher levels and would cap the upside
Same 71
gains. The ADX, +DI line and -DI line are moving
Total 1541
sideways, indicating a range bound trend. Nifty is likely
A/D Ratio 1.12 : 1 to test the 5161-5230 resistance zone in the next few
Source – NSE
trading sessions if it continues to sustain above the 4987
Moving Averages S&P CNX NIFTY level. In the meanwhile the markets would take cues from
50 Day SMA 5016.34 the global markets, crude prices and Rupee. The support
◄Negative
100 Day SMA 5118.57 levels for Nifty are placed at 5037, 4987, 4747 and 4563. The
200 Day SMA 5341.24 ◄Negative
Nifty faces resistance at the 5161, 5230 and 5360 levels.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16877 16887 16993 17110 17332 16771 16665 16443
S&P CNX NIFTY 5063 5065 5097 5132 5199 5030 4998 4931
NIFTY DEC. FUT. 5086 5092 5129 5172 5251 5049 5012 4933
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 282.15 Buy Above 286.00 275.00 3.85 320.00 11.89
Infosys Tech. 2758.95 Buy Above 2776.00 2731.00 1.62 2875.00 3.57
Wipro 404.10 Buy Above 406.00 395.00 2.71 430.00 5.91
Yes Bank 296.35 Buy Above 300.00 289.25 3.58 324.00 8.00
* 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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