1. Daily Technical Outlook
21st September 2011
Indices Close % Chg. The domestic markets witnessed a flat opening. However,
BSE SENSEX 17099.28 2.11 short covering and selective buying support helped the
S&P CNX NIFTY 5140.20 2.15 markets move higher. The markets showed no signs of
NIFTY SEP. FUT. 5156.70 2.37 weakness as follow up buying support materialized. Though,
India VIX 27.25 -7.93
the markets witnessed intermediate bouts of profit taking and
selling pressure, the market managed to hold on to the gains.
S&P CNX NIFTY Technical Levels The markets ended the day with handsome gains to close
Level 1 Level 2 Level 3
near the highs for the day. The top gainers for the day were
Rel. Capital, Rel. Power, Cairn, TCS, Rel. Comm., Hindalco,
Support 4987 4757 4563
SBI, Axis Bank, SAIL and Reliance.
Resistance 5161 5211 5325
Technically, the market breadth remained robust amidst
Volume (Lacs Shares) higher volumes, which is a positive sign for the markets.
20/09/11 19/09/11 % Chg. The global market set of cues are mix. The domestic
BSE 2163 2366 -8.58 markets are likely to witness a negative opening. The
NSE 5406 5130 5.39 markets resumed their upward journey after a lone day’s
Total 7569 7496 0.98 correction. The Stochastic, RSI, KST and MACD are
Source – BSE & NSE comfortably placed above their respective averages.
Moreso the KST and MACD are placed in the positive
Turnover ( ` Crores)
territory. This would fuel buying support at regular
20/09/11 19/09/11 % Chg.
intervals. However, the prevailing negatives continue to
BSE 2541.07 2294.25 10.76 hold good and are likely to cap the upside gains. The
NSE 10297.68 8184.16 25.82 Nifty continues to trade below its 200-day SMA. Further
NSE F&O 132276.21 101323.38 30.55 the 50-day SMA remains placed below the 100-day SMA.
Total 145114.96 111801.79 29.80 The ADX, +DI line and –DI line are moving sideways
Source – BSE & NSE indicating a range bound trend for the markets. The
Market Breadth (NSE)
market sentiment remains cautious as markets crucially
poised. The Nifty is on the verge of a break out if follow
Advances 1006
up buying support is witnessed. The Nifty has managed
Declines 460
to stay above the 4987 support level, which is a positive
Same 67 sign and augurs well for the markets. Incase Nifty
Total 1533 breaches this level then increased selling is likely and
A/D Ratio 2.19 : 1 the Nifty could test the 4757 level. The market sentiment
Source – NSE remains cautious as markets poised crucially. In the
Moving Averages S&P CNX NIFTY meanwhile the markets would take cues from the global
50 Day SMA 5231.34
markets and crude prices. The support levels for Nifty are
◄Negative placed at 4987, 4757, 4563 and 4387. The Nifty faces
100 Day SMA 5368.07
resistance at the 5161, 5211 and 5325 levels.
200 Day SMA 5535.43 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 17099 16998 17237 17375 17751 16860 16621 16244
S&P CNX NIFTY 5140 5108 5182 5223 5338 5067 4994 4879
NIFTY SEP. FUT. 5157 5120 5205 5252 5385 5072 4988 4855
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
Bajaj Hind. 46.95 Sell Below 46.50 47.75 2.69 44.00 5.38
Fortis 141.00 Sell Below 140.00 144.50 3.21 130.00 7.14
APIL 551.00 Buy Above 555.00 543.00 2.16 581.00 4.68
Aurobindo
Pharma 143.75 Buy Above 145.00 136.00 6.21 165.00 13.79
TGT of 305
Achieved
given Buy @
292 on
Cairn 305.40 Buy Above 310.00 303.00 2.26 325.00 4.84 14/09/11
* 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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