The domestic stock markets opened lower but bounced back to close flat, supported by the 200-day simple moving average. The Nifty closed slightly higher but technical indicators remain negative, suggesting further bouts of selling pressure. Key support levels are at 5624, 5571 and 5447, while resistance levels are at 5747, 5816 and 5885. Stocks such as Adani Ports, HDFC, and HUL are recommended for watching.

1. Daily Technical Outlook
28th March 2013
Indices * Close % Chg. Nifty respects 200-day SMA
BSE SENSEX 18704.53 0.12
S&P CNX NIFTY 5641.60 0.14
Mirroring the weak global market cues the domestic markets
witnessed a lower opening. At a given point the Nifty
NIFTY MAR 13 FUT. 5640.35 -0.08
breached its 200-day SMA but markets managed to bounce
India VIX 15.80 -3.42
back to trade above it. The over all trend remained range
S&P CNX NIFTY Technical Levels bound struggling to find a secular direction. The markets
Level 1 Level 2 Level 3 ended the day on a flat note to close near the highs for the
Support 5624 5571 5447
day. The top gainers for the day were Bharti Airtel, HUL,
Ranbaxy, Coal India, Tata Motors, Bank of Baroda, HDFC,
Resistance 5747 5816 5885
ITC, Kotak Bank and Powergrid.
Simple Moving Averages S&P CNX NIFTY
Technically, the market breadth remained weak amidst
50 Day SMA 5893.04 ◄Negative
lower volumes. The prevailing positive technical
100 Day SMA 5863.50 ◄Negative
conditions helped the markets take support at the Nifty’s
200 Day SMA 5624.30 200-day SMA. These conditions still hold good. The
Market Breadth * BSE NSE
Stochastic has moved above its average and is also
placed in the over sold zone The Nifty remains placed
Advances 1290 434
above its 200-day SMA. The Nifty’s 50-day SMA remains
Declines 1459 604
placed above Nifty’s 100-day SMA and 200-day SMA, the
Same 136 44 later being called the ‘Golden Cross breakout’. These
Total 2885 1082 positive conditions would lead to buying support and
A/D Ratio 0.88 : 1 0.72 : 1 short covering at regular intervals. However, the
prevailing negative technical conditions still hold good
Volume (Lacs Shares) * and would weigh on the market sentiment at higher
26/03/13 25/03/13 % Chg. levels. These conditions continue to hold good. The
BSE 2138 3249 -34.20 MACD, RSI and KST all are placed below their respective
NSE 5616 6911 -18.74 averages. The Nifty is still placed below its 50-day SMA
Total 7754 10160 -23.68 and 100-day SMA. The KST and MACD are still placed in
the negative territory, which warns of impending selling
Turnover ( ` Crores) * pressure. These negative technical conditions would
26/03/13 25/03/13 % Chg. lead to further bouts of selling pressure. Though the -DI
BSE 1661.57 2144.58 -22.52 line is placed above the +DI line and is also placed above
NSE 8747.76 10105.91 -13.44 the 32 level, indicating sellers are gaining strength but it
NSE F&O 195003.82 183754.8 6.12 has also come off its recent highs indicating sellers are
Total 205413.15 196005.29 4.80
also covering their shorts regularly. The market
sentiment remains negative. Now, it is important that
F&O Contracts Traded (NSE) * markets witness buying support above its 200-day SMA,
26/03/13 25/03/13 % Chg. otherwise Nifty is likely to breach its 200-day SMA, which
Index Fut. 448903 460440 -2.51
is placed around the 5624 level. Incase, this happens
then fresh round of selling pressure is likely to be
Stock Fut. 951642 895521 6.27
witnessed. The markets would continue to take cues
Index Opt. 5154878 4751572 8.49
from the global markets, Rupee and the crude prices.
Stock Opt. 316164 315376 0.25 The support levels for Nifty are placed at 5624, 5571 and
Total 6871587 6422909 6.29 5447. The Nifty faces resistance at 5747, 5816, 5885, 5966
NOTE - * - Source – BSE & NSE and 6158 levels.
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
Ambuja Cements Fut 168.75 Sell Below 168.00 170.75 1.64 162 3.57
GAIL Fut 305.10 Sell Below 304.00 308.50 1.48 294 3.29
IFCI Fut 25.15 Sell Below 24.90 26.25 5.42 22 11.65
Adani Ports 131.40 Buy Above 132.00 129.75 1.70 137.00 3.79
* 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 18705 18692 18771 18838 18985 18625 18545 18399
S&P CNX NIFTY 5642 5636 5661 5680 5723 5617 5593 5550
NIFTY MAR 13 FUT. 5640 5626 5633 5626 5626 5633 5626 5626
Stocks To Watch Out Today
Adani Enterprises, Ambuja Cements, Arvind, Aurobindo Pharma, Bata, Bharat Forge, Bharti Airtel, BHEL, Canara Bank, CBI,
Colgate, Escorts, GAIL, GMDC, Hero Motocorp, HPCL, IDBI, IFCI , IOB, IOC, IVRCL, Jet Airways, Jindal Saw, JSW Steel,
Karnataka Bank, L&T, Lupin, Pantaloon, Petronet, PNB, Rel. Comm; Rel.Power, Rel. Capital, Reliance, Rel. Infra, Renuka,
Rel. Power, SAIL, Siemens, Sobha, Sun TV, Syndicate Bank, Tata Coffee, Tata Power, Tata Steel, Tech Mahindra, Union
Bank of India, Unitech, Yes Bank
Adani Ports, Glaxo, Godrej Inds; GSPL, HDFC, HDFC Bank, HUL, Hind Zinc, Idea, ITC, Jubilant Food, Mphasis, NTPC, PFC,
Powergrid, PTC, Ranbaxy, Tata Motors, Titan
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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