The document provides a daily technical outlook and analysis of the Indian stock market indices and some stocks. It states that the markets witnessed a flat opening but managed to move higher due to short covering and selective buying, though selling pressure increased later due to derivative segment expiry and lack of follow up buying support. The indices ended the day with modest losses. Technically, the market breadth was neutral amid lower volumes. It provides analysis of index technical levels and moving averages. It also lists some stocks to watch out for and provides intra-day pivot points and resistance and support levels.

1. Daily Technical Outlook
28th September 2012
Indices * Close % Chg. Sideways Correction underway
BSE SENSEX 18579.50 -0.28
S&P CNX NIFTY 5649.50 -0.25 Mirroring the weak Asian market cues the domestic markets
NIFTY OCT. FUT. 5684.30 0.25 witnessed a flat opening. However, the markets managed to
India VIX 16.91 -0.35 move higher on back of short covering and selective buying
support. However increased selling pressure was witnessed
S&P CNX NIFTY Technical Levels in the afternoon trade due to the derivative segment expiry
Level 1 Level 2 Level 3 and also lack of follow up buying support at higher levels.
Support 5630 5607 5526 The markets ended the day with modest losses to close near
Resistance 5703 5741 5884 the lows for the day. The top losers for the day were SAIL,
Sesa Goa, Sterlite, ONGC, Cairn, Hero Motocorp; BHEL,
Simple Moving Averages S&P CNX NIFTY Reliance, JP Associates and Infosys Tech.
50 Day SMA 5350.35
100 Day SMA 5210.03 Technically, the market breadth remained neutral, amidst
200 Day SMA 5180.83 ◄Critical
lower volumes. The global market cues are positive. The
domestic markets are likely to witness a firm opening.
Market Breadth * BSE NSE The prevailing technical negatives continue to trigger
Advances 1516 563 profit taking and selling pressure on the bourses. The
Declines 1336 545 RSI has slipped below its average. More so, the
Same 136 52
Stochastic is already placed below its average.
Moreover, the RSI is still placed around the over bought
Total 2988 1160
zone. These technical negatives would lead to
A/D Ratio 1.13 : 1 1.03 : 1
intermediate bouts of profit taking and selling pressure.
Volume (Lacs Shares) * However, the positive technical conditions also continue
27/09/12 26/09/12 % Chg.
to hold good. The MACD and KST all are still placed
above their respective averages and are also placed in
BSE 3033 3096 -2.03
the positive territory. The Nifty remains placed above its
NSE 11766 9462 24.35
50-day SMA, 100-day SMA and 200-day SMA. More so the
Total 14799 12558 17.85 Nifty’s 50-day SMA remains placed above Nifty’s 100-day
Turnover ( ` Crores) * SMA and 200-day SMA, the later being called the ‘Golden
Cross breakout’. These positive conditions would lead to
27/09/12 26/09/12 % Chg.
buying support at lower levels. Though the ADX line is
BSE 2772.93 3120.02 -11.12
moving higher the +DI line is moving lower, indicating
NSE 18960.07 14369.65 31.95 buyers are booking profits at regular intervals. The
NSE F&O 273402.52 182783.71 49.58 market sentiment remains positive. In the meanwhile the
Total 295135.52 200273.38 47.37 markets would take cues from global markets, Rupee
and the crude prices. The support levels for Nifty are placed
F&O Contracts Traded (NSE) * at 5630, 5607, 5526, and 5448. The Nifty faces resistance at
27/09/12 26/09/12 % Chg. 5703, 5741 and 5884 levels.
Index Fut. 780070 570991 36.62
Stock Fut. 1223305 1140857 7.23
Index Opt. 7222514 4371852 65.20
Stock Opt. 368929 326230 13.09
Total 9594818 6409930 45.14
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 Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Bhushan Steel 492.00 Buy Above 497.00 485.00 2.41 523 5.23
Chambal Fert. 75.15 Buy Above 76.00 74.20 2.37 80 5.26
Tech Mahindra 952.15 Buy Above 955.00 934.75 2.12 1000 4.71
* 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 18580 18623 18693 18806 18989 18509 18439 18256
S&P CNX NIFTY 5650 5661 5682 5715 5769 5628 5607 5553
NIFTY OCT. FUT. 5684 5691 5713 5741 5791 5663 5642 5592
Stocks To Watch Out Today
ACC, Ambuja Cements, Bhushan Steel. Chambal Fert; Fortis, GVK; HCL tech; HDIL, HUL, IDBI, India Cement, ITC, Jubilant
Foods, Kotak Bk; Karnataka Bk; Lupin, M&M, Maruti, Max India, Rel. Capital, Sobha, Sun TV, Tata Power, Tech Mahindra,
Titan, Ultratech Cemco, United Spirits, VIP, Yes bank, ZEEL
Coal India, Hexaware, Hindalco, Hind Zinc’ Infosys Tech; Jet Airways, Jindal Saw, JSW ispat, MTNL, NTPC, ONGC, Petronet,
REC, SAIL,, Sesa Goa, Sterlite, Tata Motors, TCS, TVS Motors, Videocon
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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