The domestic stock markets opened higher but then fell, ending the day with modest losses. The markets struggled after the government's economic announcements disappointed expectations. Technically, market breadth was neutral with lower trading volumes. The markets are expected to have a flat to subdued opening as global cues are negative and technical indicators remain bearish. Key support and resistance levels for the markets are identified. Specific stocks are highlighted to watch in the coming trading sessions.

1. Daily Technical Outlook
26th June 2012
Indices * Close % Chg.
BSE SENSEX 16882.16 -0.53
Government sops disappoint
S&P CNX NIFTY 5114.65 -0.61
The domestic markets witnessed a positive opening. Steady
NIFTY JUNE FUT. 5109.30 -0.81
buying support was witnessed as markets moved higher.
India VIX 21.57 4.81 However, the Nifty faltered at the psychologically important
S&P CNX NIFTY Technical Levels 5200 level as it witnessed increased selling pressure. The
markets struggled to move higher once the much waited
Level 1 Level 2 Level 3
economic announcements by the government to boost
Support 5114 5074 4950
economy did not meet the Street’s expectations. The markets
Resistance 5250 5333 5379 failed to show any signs of resilience and moved lower testing
Moving Averages S&P CNX NIFTY 5100 level. The markets ended the day with modest losses to
50 Day SMA 5056.11
close near the lows for the day. The top losers for the day
were Hindalco, JP Associates, BPCL, ONGC, Kotak Bank,
100 Day SMA 5197.33
Grasim, Hero Motorcorp, HCL Tech; Asian Paints and Cipla.
200 Day SMA 5074.72 ◄Critical
Technically, the market breadth remained neutral amidst
Market Breadth * BSE NSE
lower volumes. The global market cues are largely
Advances 1420 775
negative. The domestic markets are likely to witness a
Declines 1334 693 flat to subdue opening. The prevailing technical
Same 125 86 negatives continue to hold good and are weighing on the
Total 2879 1554 market sentiment. The KST and RSI have slipped below
A/D Ratio 1.06 : 1 1.12 : 1 their respective averages. Moreover, the Nifty remains
placed below its 100-day SMA. Moreover, the 50-day SMA
Volume (Lacs Shares) * is placed below its 100-day SMA and 200-day SMA. These
25/06/12 22/06/12 % Chg. negative conditions would result in regular bouts of
BSE 2033 2049 -0.78 selling pressure especially at higher levels. However, a
NSE 5717 6364 -10.16 few technical positives continue to hold good and would
Total 7750 8413 -7.88 lead to buying support at lower levels. The Stochastic
and the MACD are still placed above their respective
Turnover ( ` Crores) * averages. The MACD and KST are also placed in the
25/06/12 22/06/12 % Chg. positive territory, which augurs well for the markets. The
BSE 1916.53 2086.61 -8.15 Nifty is placed above the 50-day SMA and 200-day SMA.
NSE 8724.69 10048.11 -13.17
The ADX line, +DI line and the –DI line are moving
sideways indicating a range bound trend. The market
NSE F&O 176478.98 163869.46 7.69
sentiment remains tentative. Now it is important that the
Total 187120.20 176004.18 6.32
markets witness follow up buying support at regular
F&O Contracts Traded (NSE) * intervals for Nifty to move above the 5200 level.
25/06/12 22/06/12 % Chg.
Intermediate bouts of volatility and choppiness would be
witnessed due to impending derivative segment expiry.
Index Fut. 691753 599635 15.36
In the meanwhile the markets would take cues from
Stock Fut. 814501 742587 9.68
Rupee, global markets and the crude prices. The support
Index Opt. 5167643 4857257 6.39 levels for Nifty are placed at 5114, 5074, 4950, 4841 and
Stock Opt. 229518 253488 -9.46 4777. The Nifty faces resistance at the 5250, 5333, 5379
Total 6903415 6452967 4.44 and 5500 levels.
NOTE - *- Source – BSE & NSE
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 122.85 Buy Above 124.00 120.75 2.62 131 5.65
Bombay Dying 518.10 Buy Above 520.00 506.50 2.60 550 5.77
Cummins 439.10 Buy Above 443.50 435.50 1.80 461 3.95
* 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 16882 16955 17058 17234 17512 16780 16677 16399
S&P CNX NIFTY 5115 5138 5171 5227 5316 5082 5049 4960
NIFTY JUNE FUT. 5109 5137 5175 5242 5346 5071 5032 4927
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
Andhra Bank, Bombay Dying, Cairn, Cummins, Dr. Reddys, Educomp, FT, HDFC, HDIL., Jindal Saw, Petronet, Sobha, Sun
TV, Tata Comm; Tata Global, Tulip
Bharat Forge, BPCL, Cipla, Dish TV, HCL Tech; Hindalco, HOECL, HPCL, Idea, Kotak Bank, Lupin, M&M, MRF, ONGC,
Siemens, Tata Steel
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