The domestic stock markets witnessed modest losses on November 30th, closing near the day's lows. Selling pressure was seen in the morning and afternoon as global market cues were negative. The top sectoral losers for the day were metals, banking and realty. Technically, the market breadth remained negative amidst higher volumes. The Nifty closed below key moving averages and technical indicators remain positioned in negative territory. The Nifty is expected to test resistance at 4987 if it sustains above support at 4747, but overall technical negatives persist.

1. Daily Technical Outlook
30th November 2011
Indices Close % Chg. Mirroring the mix set of global market cues; the domestic
BSE SENSEX 16008.34 -0.98 markets witnessed a flat opening. Selling pressure and profit
S&P CNX NIFTY 4805.10 -0.95 taking was witnessed in the morning trade as markets traded
NIFTY DEC. FUT. 4816.75 -1.10 with losses. However, the markets managed to bounce back
India VIX 26.87 0.86
from the lows of the day on back of short covering and
selective buying support. However, selling pressure ws
S&P CNX NIFTY Technical Levels witnessed in the afternoon session on back of weak
Level 1 Level 2 Level 3
European market cues. The markets ended the day with
modest losses to close near the lows for the day. The top
Support 4747 4563 4481
losers for the day were Jindal Steel, Bharti Airtel, ACC, IDFC,
Resistance 4987 5037 5161
Kotak Bank, PNB, DLF, Sterlite, Reliance and Tata Motors.
Volume (Lacs Shares) Technically, the market breadth remained negative
29/11/11 28/11/11 % Chg. amidst higher volumes. The global market set of cues are
BSE 1884 1670 12.81 negative. The domestic markets are likely to witness a
NSE 5739 5397 6.33 flat opening. The Nifty has managed to sustain above the
Total 7623 7067 7.86 4747 level. The Stochastic and RSI are placed above their
Source – BSE & NSE respective averages, which would lead to buying support
at lower levels. The positive divergence pattern formed
Turnover ( ` Crores)
by Nifty continues to hold good and would give the
29/11/11 28/11/11 % Chg.
necessary impetus for a short term rally to unfold and
BSE 1895.70 1909.26 -0.71 Nifty could possibly test the 4987 level in next few
NSE 9752.34 8642.63 12.84 trading sessions. However, the prevailing technical
NSE F&O 92298.96 80615.34 14.49 negatives continue to hold good. The KST and MACD are
Total 103947.00 91167.23 14.02 placed in the negative and also below their respective
Source – BSE & NSE averages. The Nifty continues to trade below its 50-day
Market Breadth (NSE)
SMA. Moreso, the Nifty continues to trade below its 200-
day SMA. Further the 50-day SMA remains placed below
Advances 581
the 100-day SMA. All these conditions would lead to
Declines 894
selling pressure at higher levels. The ADX and +DI line
Same 56 are moving sideways, but –DI line continues to fall and is
Total 1531 placed at 31 level, indicating sellers are losing grip over
A/D Ratio 0.65 : 1 the markets. The Nifty is likely to test the 4987 level
Source – NSE successfully if it continues to sustain above the 4747
Moving Averages S&P CNX NIFTY level. In the meanwhile the markets would take cues from
50 Day SMA 5027.23
the global markets, crude prices, Rupee and GDP
◄Negative numbers. The support levels for Nifty are placed at 4747,
100 Day SMA 5152.33
4563, 4481 and 4387. The Nifty faces resistance at the 4987,
200 Day SMA 5349.43 ◄Negative
5037 and 5161.
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16008 16057 16162 16315 16573 15904 15799 15541
S&P CNX NIFTY 4805 4819 4852 4898 4977 4773 4740 4661
NIFTY DEC. FUT. 4817 4830 4872 4927 5024 4775 4733 4636
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
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4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
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2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Balrampur Chini 43.60 Sell Below 43.00 44.80 4.19 39.00 9.30
CESC 250.45 Sell Below 247.00 253.50 2.63 233.00 5.67
BF Utilities 372.30 Buy Above 376.00 361.50 3.86 408.00 8.51
Dish TV 67.85 Buy Above 68.25 65.65 3.81 74.00 8.42
HOECL 123.50 Buy Above 124.50 120.00 3.61 134.00 7.63
* Stop Losses are to be considered strictly on Closing basis.
Keynote Capitals Ltd.
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4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

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