- The Indian markets opened flat but saw selling pressure and losses in early trading due to profit taking. However, markets bounced back from lower levels in the afternoon on buying support. - The markets closed with modest gains, managing to stay above the key 6000 level on the Nifty. Technical indicators were mixed but largely positive, providing support. - Going forward, the markets may face resistance at higher levels due to some persisting technical negatives. Support is seen at lower levels of 5966-5816 on the Nifty.

1. Daily Technical Outlook
9th January 2013
Indices * Close % Chg. Markets find support at lower levels
BSE SENSEX 19742.52 0.26
S&P CNX NIFTY 6001.70 0.22
Mirroring the inconclusive global market cues the domestic
markets witnessed a flat opening. Sustained selling pressure
NIFTY JAN 13 FUT. 6043.30 -0.08
and profit taking was witnessed in the morning trade as
India VIX 13.27 -4.66
markets traded with losses. However, the markets managed
S&P CNX NIFTY Technical Levels to bounce back from lower levels in the afternoon trade on
Level 1 Level 2 Level 3 back of buying support. The markets showed no signs of
Support 5966 5885 5816
weakness as follow p buying support emerged on the
bourses. The markets ended the day with modest gains to
Resistance 6158 6313 6358
close near the highs for the day. Nifty managed to close
Simple Moving Averages S&P CNX NIFTY above psychologically important 6000 level. The top gainers
50 Day SMA 5798.38 ◄Positive for the day were Rel. Infra, HDFC, ITC, BHEL, Powergrid,
100 Day SMA 5661.77
Cipla, SBI, ONGC, Bharti Airtel and Sun Pharma.
200 Day SMA 5404.30
Technically, the market breadth remained negative
Market Breadth * BSE NSE amidst lower volumes. The prevailing technical positive
Advances 1451 502
conditions helped the markets find support at lower
Declines 1478 657
levels. The RSI has moved above its average. The MACD
is already placed above its average. Moreover, the MACD
Same 142 53
and KST are also placed in the positive territory. The
Total 3071 1212
Nifty remains placed above its 50-day SMA, 100-day SMA
A/D Ratio 0.98 : 1 0.76 : 1 and 200-day SMA. The Nifty’s 50-day SMA remains
Volume (Lacs Shares) * placed above Nifty’s 100-day SMA and 200-day SMA, the
later being called the ‘Golden Cross breakout’. These
08/01/13 07/01/13 % Chg.
positive conditions are likely to help the markets witness
BSE 3160 4617 -31.56
buying support at lower levels. However, the prevailing
NSE 7709 8922 -13.59 technical negatives still hold good and are likely to
Total 10869 13539 -19.72 weigh on the market sentiment at higher levels. The KST
and Stochastic are placed below their respective
Turnover ( ` Crores) * averages. Moreover, the negative divergence pattern
08/01/13 07/01/13 % Chg. formed on the Nifty still holds good and remains a
BSE 2705.16 2648.82 2.13 concern. These negative technical conditions would lead
NSE 11899.99 12364.38 -3.76 to selling pressure and profit taking especially at higher
NSE F&O 101905.87 76061.97 33.98 levels. Though thee +DI line is placed above the –DI line
Total 116511.02 91075.17 27.93 but has slipped below the 30 level; indicating buyers are
booking profits at regular intervals. The market
F&O Contracts Traded (NSE) * sentiment remains cautious as Nifty struggles around
08/01/13 07/01/13 % Chg. the 6000 level. Now it is important that the Nifty sustains
Index Fut. 239065 154359 54.88 above the 6000 level for it to test the 6135 resistance
Stock Fut. 473882 484381 -2.17 level. In the meanwhile the markets would take cues from
Index Opt. 2302006 1489108 54.59
the forthcoming quarterly results, global markets, Rupee
and the crude prices. The support levels for Nifty are placed
Stock Opt. 255816 252693 1.24
at 5966, 5885, 5816 and 5747. The Nifty faces resistance at
Total 3270769 2380541 34.28
6158, 6313 and 6358 levels.
NOTE - * - Source – BSE & NSE
Sanjay Bhatia (AVP – Technical Research), Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

2. Jaldi 5 (Short Term Technical Ideas for 5 Trading Days)
Stop
Initiation Stop Loss
Stock Close Action Price Loss * (%) Target Target (%) Remarks
Bharti Airtel 330.30 Buy Above 331.00 326.50 1.36 341 3.02
BHEL 243.90 Buy Above 245.00 240.50 1.84 255 4.08
Cipla 429.50 Buy Above 430.00 424.00 1.40 443 3.02
* Stop Losses are to be considered strictly on closing basis.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 19743 19712 19792 19841 19971 19663 19583 19454
S&P CNX NIFTY 6002 5991 6018 6034 6076 5975 5948 5906
NIFTY JAN 13 FUT. 6043 6010 6027 6010 6010 6027 6010 6010
Stocks To Watch Out Today
Aban, AB Nuvo, Bharti Airtel, BHEL, Cipla, Dr. Reddys, Exide, GMR Infra, Godrej Inds; HDFC, IBRealestate, Idea, IRB Infra,
ITC, Jain Irrigation, JP Power, M&M, Mphasis, OFSS, ONGC, Pantaloon Retail, Petronet, Powergrid, RCom; Rel. Infra,
Renuka, SCI, Sun Pharma, Syndicate Bank, UCO Bank, Vijaya Bank, Voltas, Yes Bank
Ambuja Cement, Axis Bank, Bajaj Auto, Bata, Bharat Forge, Canara Bank, CBI, Dabur, Federal Bank, GAIL, GSPL, Hero
Motocorp, Jubilant Foods, LIC Hsg; L&T, OBC, PFC, PNB, PTC, Punj Lloyd, Ranbaxy, Raymond, REC, Rel. Capital, Reliance
Sesa Goa, Siemens, Sintex, Sterlite, Suzlon, Tata Comm; Titan, United Spirits, Ultratech Cemco
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. NOTE:
TECHNICAL ANALYSIS ABBREVATIONS
SMA – Simple Moving Average
EMA – Exponential Moving Average
WMA – Weighted Moving Average
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