1. Daily Technical Outlook
11th April 2012
Indices * Close % Chg. The domestic markets witnessed a flat opening. The overall
BSE SENSEX 17243.84 0.13 trend remained range bound as markets moved in a narrow
S&P CNX NIFTY 5243.60 0.18 range for the better part of the day. Buying support picked up
NIFTY APRIL FUT. 5266.15 0.25 in the afternoon trade as Nifty managed to sustain above the
India VIX 21.92 -1.83 5250 level. The overall trend remained range bound after the
initial selling pressure. The markets ended the day flat but
S&P CNX NIFTY Technical Levels closed near the highs for the day. The top gainers for the day
Level 1 Level 2 Level 3 were Tata Power, Rel. Comm., Tata Motors, Kotak Bank,
Support 5161 5037 4955 HUL, ITC, SBI, Siemens, M&M, Rel. Power, wipro and Cairn
Resistance 5400 5681 5728 India.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained negative
50 Day SMA 5334.34 amidst higher volumes, indicating buying concentrated
100 Day SMA 5079.88 in index heavyweight stocks. The global market cues are
200 Day SMA 5146.26 ◄ Crucial
subdue. The domestic markets are likely to witness a
negative opening. The markets are displaying a range
Volume (Lacs Shares) * bound trend as the ADX line, +DI line and –DI line
10/04/12 09/04/12 % Chg. continue to move sideways. The prevailing technical
BSE 2542 2542 0.00 negatives continue to hold good and are likely to cap
NSE 6509 5094 27.78
upside gains. The Stochastic, RSI and KST are placed
below their respective average, which would lead to
Total 9051 7636 18.53
selling pressure, especially at higher levels. Moreover,
Turnover ( ` Crores) * the Nifty remains placed below its 50-day SMA, which is
10/04/12 09/04/12 % Chg.
a short term negative. However, a few positives continue
to hold good and would prompt short covering and
BSE 2126.50 2126.50 0.00
selective buying support at lower levels. The MACD is
NSE 10496.00 7673.14 36.79
placed above its average. The Nifty continues to sustain
NSE F&O 82561.13 78269.85 5.48 above its long-term moving average the 200-day SMA.
Total 95183.63 88069.49 8.08 Moreover, the Nifty’s 50-day SMA remains placed above
Nifty’s 100-day SMA and 200-day SMA, the later being
F&O Contracts Traded (NSE) *
called the “Golden Cross” breakout. These conditions
10/04/12 09/04/12 % Chg.
would help in witnessing buying support at lower levels.
Index Fut. 373701 365925 2.13 The ADX line, +DI line and –DI line continue to move
Stock Fut. 427028 329753 29.50 sideways indicating that markets would continue to
Index Opt. 2184105 2124521 2.80 remain range bound. The market sentiment however
Stock Opt. 130998 108556 20.67 remains cautious ahead of the forthcoming Q4 results
Total 3115832 2928755 2.80 and the impending RBI’s monetary policy meet next
week. Now, it is important that the markets witness
Market Breadth (NSE) * buying support at lower levels for the Nifty to move
Advances 665 higher and test the crucial 5400 resistance level. In the
Declines 783 meanwhile the markets would take cues from the
Same 94 forthcoming Q4 results, the global markets and the crude
Total 1542
prices. The support levels for Nifty are placed at 5161, 5037
and 4955. The Nifty faces resistance at the 5400, 5681, 5728
A/D Ratio 0.85 : 1
and 5885 levels.
NOTE - *- Source – BSE & NSE
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
ACC 1300.05 Sell Below 1295 1321.00 2.01 1237 4.48
Ashok Leyland 29.30 Sell Below 29 30.50 5.17 26 10.34
BHEL 255.85 Sell Below 254 260.50 2.56 240 5.51
GMDC 187.15 Sell Below 185 188.25 1.76 178 3.78
* 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 17244 17218 17300 17357 17496 17162 17079 16940
S&P CNX NIFTY 5244 5237 5262 5281 5325 5218 5193 5149
NIFTY APRIL FUT. 5266 5257 5287 5308 5360 5236 5205 5154
Stocks to watch out for today
Apollo Tyre, Bata, Bosch, Escorts, HUL, ITC, Lupin, Welcorp, Wipro, BEML, BPCL, Dish TV, Essar Oil, Exide,
GAIL, GSPL, Guj. Flouro; HCL Tech; Hindalco, HPCL, ICICI Bank, L&T, Maruti, PFC, PNB, Praj, PNB, Rel. Infra,
SAIL, Sterlite, Sun TV, Tata Chemicals, Tata Steel, TCS
Keynote Capitals Ltd.
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www.keynotecapitals.com

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