1. Daily Technical Outlook
27th July 2011
Indices Close % Chg. Mirroring the mix set of global market cues, the domestic
BSE SENSEX 18518.22 -1.87 markets witnessed a flat opening. However, buying support at
S&P CNX NIFTY 5574.85 -1.86 regular intervals saw the markets move higher above the
NIFTY AUG. FUT. 5590.20 -1.80 5700 level. However, steep rate hike of 50bps on Repo Rate
India VIX 19.30 0.52
and Reverse Repo Rate by RBI saw the markets erase all the
gains to slip back sharply and trade below the 5600 level.
S&P CNX NIFTY Technical Levels The markets failed to show any resilience against sustained
Level 1 Level 2 Level 3
selling pressure. The markets ended the day with high losses
to close near the lows for the day. The top losers for the day
Support 5500 5364 5262
were IDFC, Rel. Communication, BHEL, Kotak Bank, DLF,
Resistance 5600 5713 5885
Tata Motors, L&T, ICICI Bank, M&M and HDFC.
Volume (Lacs Shares) Technically, the market breadth remained subdue amidst
26/07/11 25/07/11 % Chg. lower volumes. The global market set of cues are mix.
BSE 2424 2675 -9.38 The domestic markets are likely to witness a flat opening.
NSE 5951 6114 -2.67 The RSI and KST have once again slipped below their
Total 8375 8789 -4.71 respective signal and trigger line. The MACD continues
Source – BSE & NSE to remain below its average. These conditions would
result in selling pressure. The Nifty continues to trade
Turnover ( ` Crores)
below its 200-day SMA. The 50-day SMA remains placed
26/07/11 25/07/11 % Chg.
below the 100-day SMA. The +DI, the ADX line and the -DI
BSE 2899.08 2972.68 -2.48 line continue to move in a sideways pattern. The only
NSE 12296.62 11484.43 7.07 silver lining for the market remains the Stochastic placed
NSE F&O 233748.41 155301.05 50.51 above its average, which would lead to buying support at
Total 248944.11 169758.16 46.65 lower levels. The market sentiment remains tentative.
Source – BSE & NSE The markets would witness occasional bouts of volatility
Market Breadth (NSE)
due to impending derivative segment expiry on
Thursday. Now, it is important that the Nifty continues to
Advances 376
witness buying support if the markets have to move and
Declines 1084
sustain above the 5700 level to test its long term 200-day
Same 62 SMA, which is placed around the 5713 level. In the
Total 1522 meanwhile the markets would take cues from the
A/D Ratio 0.35 : 1 earnings season, news flow on the progress of monsoon,
Source – NSE crude prices and the global markets. The support levels for
Moving Averages S&P CNX NIFTY Nifty are placed at 5500, 5364 and 5262. The Nifty faces
50 Day SMA 5515.94
resistance at the 5600, 5713, 5885 and 5911 levels.
◄Negative
100 Day SMA 5581.28
200 Day SMA 5712.75 ◄Negative
Intra-day Resistance Intra-day Support
Indices Close Pivot Point R1 R2 R3 S1 S2 S3
BSE SENSEX 18518 18648 18815 19111 19574 18352 18185 17722
S&P CNX NIFTY 5575 5612 5665 5755 5897 5523 5470 5328
NIFTY AUG. FUT. 5590 5630 5687 5784 5938 5533 5476 5322
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
BGR Energy 448.50 Sell Below 444 457 2.93 416 6.31
HDIL 152.25 Sell Below 150 157 4.67 135 10.00
IB Realestate 109.85 Sell Below 108 113 4.63 97 10.19
* Stop Losses are to be considered 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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