The domestic stock markets opened lower, mirroring weak global cues. Though the markets recovered from the lows in morning trading due to some buying support, increased selling pressure resulted in modest losses as the markets closed near the day's highs. Key support and resistance levels for the Nifty are noted. The technical indicators are mostly positive but prevailing negatives may limit upside. Global cues are mixed and the markets are expected to have a flat to negative opening.

1. Daily Technical Outlook
25th June 2012
Indices * Close % Chg.
BSE SENSEX 16972.51 -0.35
Dollar causes ripples on bourses
S&P CNX NIFTY 5146.05 -0.37
Mirroring the weak global market cues; the domestic markets
NIFTY JUNE FUT. 5151.15 -0.44
witnessed a gap down opening. Though, the markets
India VIX 20.58 3.20 managed to come off the lows for the day in the morning
S&P CNX NIFTY Technical Levels session it failed to sustain higher due to lack of follow up
buying support. Increased selling pressure was witnessed.
Level 1 Level 2 Level 3
However, the markets managed a smart recovery in the
Support 5114 5073 4950
afternoon trade on back of selective buying support and short
Resistance 5250 5333 5379 covering, amidst volatile and choppy trend. The markets
Moving Averages S&P CNX NIFTY ended the day with modest losses to close near the highs for
50 Day SMA 5058.34
the day. The top losers for the day were JP Associates,
Hindalco, ACC, Ambuja Cements, Tata Steel, HCL Tech;
100 Day SMA 5198.54
SAIL, HDFC, Axis Bank and Jindal Steel.
200 Day SMA 5074.77 ◄Critical
Technically, the market breadth remained negative
Market Breadth * BSE NSE
amidst higher volumes, which is a negative sign for the
Advances 1363 681
markets. The global market cues are divergent. The
Declines 1392 778 domestic markets are likely to witness a flat to negative
Same 129 84 opening. The prevailing technical positives continue to
Total 2884 1543 hold good and would lead to buying support at regular
A/D Ratio 0.98 : 1 0.88 : 1 intervals. The Stochastic, the RSI, the MACD and the KST
all are placed above their respective averages. The
Volume (Lacs Shares) * MACD and KST are also placed in the positive territory,
22/06/12 21/06/12 % Chg. which augurs well for the markets. The Nifty is placed
BSE 2049 1823 12.40 above the 50-day SMA and 200-day SMA. The Nifty basis
NSE 6364 5668 12.28 remains positive as Nifty futures trades at a premium to
Total 8413 7491 12.31 Nifty spot index. However, the prevailing technical
negatives continue to hold good and are likely to cap
Turnover ( ` Crores) * upside gains. The Nifty remains placed below its 100-day
22/06/12 21/06/12 % Chg. SMA. Moreover, the 50-day SMA is placed below its 100-
BSE 2086.61 1960.73 6.42 day SMA and 200-day SMA. These negative conditions
NSE 10048.11 9754.02 3.02
would result in regular bouts of profit taking and selling
pressure especially at higher levels. The ADX line, +DI
NSE F&O 163869.46 140575.43 16.57
line and the –DI line are moving sideways indicating a
Total 176004.18 152290.18 15.57
range bound trend. The market sentiment remains
F&O Contracts Traded (NSE) * tentative. Now it is important that the markets witness
22/06/12 21/06/12 % Chg.
follow up buying support at regular intervals for Nifty to
move above the 5200 level. Intermediate bouts of
Index Fut. 599635 519356 15.46
volatility and choppiness would be witnessed due to
Stock Fut. 742587 666605 11.40
impending derivative segment expiry. In the meanwhile
Index Opt. 4857257 4123458 17.80 the markets would take cues from Rupee which
Stock Opt. 253488 252988 0.20 incidentally touched new historic low, global markets
Total 6452967 5562407 13.20 and the crude prices. The support levels for Nifty are placed
NOTE - *- Source – BSE & NSE
at 5114, 5073, 4950, 4841 and 4777. The Nifty faces
resistance at the 5250, 5333, 5379 and 5500 levels.
Sanjay Bhatia (AVP – Technical Research), Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
th
The Ruby, 9 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 Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Andhra Bank 119.70 Buy Above 120.30 117 2.54 127 5.57
Bank of Baroda 708.65 Buy Above 711.00 697 2.04 743 4.50
Hero Motorcorp 2086.10 Buy Above 2091.00 2053 1.82 2175 4.02
* 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 16973 16932 17056 17140 17349 16848 16724 16516
S&P CNX NIFTY 5146 5133 5173 5199 5265 5107 5067 5002
NIFTY JUNE FUT. 5151 5136 5182 5213 5289 5105 5060 4983
Keynote Capitals Ltd.
th
The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. Stocks to watch out today
Bharat Forge, Hindalco, NHPC, Allahabad Bank, BoB, Bata, Biocon, DLF, FT, Havells, HDIL, HOECL, Indian Hotels, Kotak
Bank, NTPC, Oil India, Petronet, PNB, Powergrid, Raymond, Rel. Infra, Renuka, Rel. Power, Tata Comm; Welcorp
Disclaimer
This document is not for public distribution and has been furnished to you solely for your information and must not be
reproduced or redistributed to any other person. Persons into whose possession this document may come are
required to observe these restrictions.
This material is for the personal information of the authorized recipient, and we are not soliciting any action based
upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Keynote
Capitals Ltd. It does not constitute a personal recommendation or take into account the particular investment
objectives, financial situations, or needs of individual clients.
We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable
though its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected
with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their
own investigations and take their own professional advice. Price and value of the investments referred to in this
material may go up or down. Past performance is not a guide for future performance. Certain transactions -including
those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial
risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s
price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not
match with a report on a company’s fundamentals.
Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to
update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or
other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking
statements are not predictions and may be subject to change without notice. Our proprietary trading and investment
businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short
positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other
transaction involving such securities and earn brokerage or other compensation or act as a market maker in the
financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company
(ies) or have other potential conflict of interest with respect to any recommendation and related information and
opinions.
The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal
views about the subject company or companies and its or their securities, and no part of his or her compensation
was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.
No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior
written consent.
Keynote Capitals Ltd.
th
The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com