1. Daily Technical Outlook
5th September 2011
Indices Close % Chg. The domestic markets witnessed a positive opening on back
BSE SENSEX 16821.46 0.87 buying support leading to short covering. The Nifty managed
S&P CNX NIFTY 5040.00 0.78 to sustain above the psychologically important 5000 level but
NIFTY SEP. FUT. 5034.10 0.62 volumes recorded remained on a lower side. However, profit
India VIX 26.09 4.86
taking and selling pressure was being witnessed at higher
levels as Nifty came off the highs for the day, but managed to
S&P CNX NIFTY Technical Levels bounce back towards the close of the day. The markets
Level 1 Level 2 Level 3
ended the day with modest gains to close near the highs for
the day. The top gainers for the day were Rel. Capital, Rel.
Support 4987 4757 4563
Comm., DLF, Tata Steel, Sterlite, M&M, Rel. Infra, Bajaj Auto,
Resistance 5161 5200 5325
Hindalco and Cairn India.
Volume (Lacs Shares) Technically, the market breadth remained positive amidst
02/09/11 30/08/11 % Chg. lower volumes. The global market set of cues are
BSE 1762 2557 -31.09 negative. The domestic markets are likely to witness a
NSE 6248 6531 -4.33 gap down opening.. The markets continued to move
Total 8010 9088 -11.86 higher on back of the Nifty managing to sustain above
Source – BSE & NSE the psychologically important 5000 level. The MACD, RSI,
KST and Stochastic are placed above their respective
Turnover ( ` Crores)
averages, which would lead to further buying support.
02/09/11 30/08/11 % Chg.
The – DI line and ADX continue to move downwards but
BSE 2194.37 2616.94 -16.15 are still placed above the 30 level, while the DI line has
NSE 12908.45 11687.49 10.45 started moving higher. However, a few technical
NSE F&O 83197.20 108801.62 -23.53 negatives continue to hold good and would lead to
Total 98300.02 123106.05 -20.15 selling pressure and profit taking at higher levels. The
Source – BSE & NSE Stochastic is placed in the over bought zone on the daily
Market Breadth (NSE)
charts, which would lead to regular bouts of profit taking.
The Nifty continues to trade below its 200-day SMA.
Advances 894
Further the 50-day SMA remains placed below the 100-
Declines 570
day SMA. The markets will display occasional bouts of
Same 52 volatility as it tries to sustain above the psychologically
Total 1516 important 5000 level. Now, it is important that the Nifty
A/D Ratio 1.57 : 1 continues to sustain above the 5000 level for atleast two
Source – NSE more trading days for it to move higher to test the 5150-
Moving Averages S&P CNX NIFTY 5200 resistance levels. In the meanwhile the markets
50 Day SMA 5351.38
would take cues from the global markets. The support
◄Negative levels for Nifty are placed at 4987, 4757 and 4563. The Nifty
100 Day SMA 5460.88
faces resistance at the 5161, 5200 and 5325 levels.
200 Day SMA 5587.25 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 16821 16833 16978 17135 17437 16676 16531 16230
S&P CNX NIFTY 5040 5049 5105 5169 5290 4984 4929 4808
NIFTY SEP. FUT. 5034 5032 5075 5115 5198 4991 4948 4865
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
Nagarjuna Fert. 23.55 Sell Below 23.25 24.30 4.52 21.00 9.68
IFCI 37.10 Sell Below 36.65 37.85 3.27 34.00 7.23
Coal India 388.15 Buy Above 391 384.50 1.66 405.00 3.58
* Stop Losses are to be considered on Closing basis only.
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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