Daily Technical Outlook
2nd May 2012
Indices * Close % Chg. Mirroring the positive global market cues, the domestic
BSE SENSEX 17318.81 0.76 markets opened on a firm note. Steady buying support was
S&P CNX NIFTY 5248.15 0.75 witnessed as markets moved higher to trade closer to the
NIFTY May FUT. 5267.85 0.68 5300 level. However, the markets failed to capitalize on
India VIX 17.82 1.19 morning gains as follow up buying support did not materialize.
Profit taking and selling pressure was witnessed at higher
S&P CNX NIFTY Technical Levels levels. The markets ended the day with modest gains to close
Level 1 Level 2 Level 3 near the highs for the day. The top gainers for the day were
Support 5161 5037 4955 TCS, Jindal Steel, Powergrid, Hero Motocorp, Infosys Tech,
Resistance 5400 5681 5728 DLF, ASCC, Rel. Infra, JP Associates and ONGC.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained positive. The
50 Day SMA 5305.75 global market cues are largely positive. The domestic
100 Day SMA 5134.75 markets are likely to witness a firm opening. The
200 Day SMA 5123.29 ◄ Crucial prevailing technical positives have helped the markets to
move higher. The KST, Stochastic and RSI have moved
Volume (Lacs Shares) * above their respective averages. More so the KST has
30/04/12 28/04/12 % Chg. moved in the positive territory. This would lead to buying
BSE 1638 398 311.56 support. The Nifty continues to sustain above its long-
NSE 5394 779 592.05 term moving average the 200-day SMA. Moreover, the
Total 7032 1177 497.23
Nifty’s 50-day SMA remains placed above Nifty’s 100-day
SMA and 200-day SMA, the later being called the “Golden
Turnover ( ` Crores) * Cross” breakout. Moreso, the Nifty’s 100-day SMA has
30/04/12 28/04/12 % Chg. crossed above the Nifty’s 200-day SMA. These positive
BSE 1678.89 282.22 494.89 technical conditions would prompt buying support at
NSE 8860.99 908.73 875.10
regular intervals. However, the negative technical
conditions still hold good and would lead to profit taking
NSE F&O 66255.80 7195.67 820.77
and selling pressure at higher levels. The MACD has
Total 76795.68 8386.62 815.69
slipped below its average. The Nifty remains placed
F&O Contracts Traded (NSE) * below its 50-day SMA, which is a short term negative.
The ADX line, +DI line and –DI line continue to move
30/04/12 28/04/12 % Chg.
sideways, indicating that markets would continue to
Index Fut. 328587 32850 900.26
remain range bound. The market sentiment remains
Stock Fut. 379160 46715 711.65 cautious. Now, it is important that the markets witness
Index Opt. 1705141 184433 824.53 buying support at regular intervals for the Nifty to move
Stock Opt. 122172 13278 820.11 higher. The 200-day SMA remains a crucial support level
Total 2535060 277276 587.72 for the markets. In the meanwhile the markets would take
cues from the forthcoming Q4 results along with global
Market Breadth (NSE) * markets and the crude prices. The support levels for Nifty
Advances 852 are placed at 5161, 5037 and 4955. The Nifty faces
Declines 622 resistance at the 5400, 5681, 5728 and 5885 levels.
Same 70
Total 1544
A/D Ratio 1.37 : 1
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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The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
ACC 1237.15 Buy Above 1240.00 1222.00 1.45 1280 3.23
Arvind 86.90 Buy Above 87.25 85.50 2.01 91 4.30
DCHL 39.95 Buy Above 41.00 37.40 8.78 49 19.51
* 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 17319 17291 17387 17455 17619 17223 17127 16964
S&P CNX NIFTY 5248 5237 5273 5298 5359 5212 5177 5116
NIFTY MAY FUT. 5268 5261 5295 5323 5384 5233 5199 5137
Keynote Capitals Ltd.
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The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

Stocks to watch out today
Aban, Bajaj Hind; BoB, BoI, Bharat Forge, Cairn, DCHL, Dena Bank, Divis Labs, DLF, HIndalco, HPCL, Hind.
Zinc, IB Realestate, ICICI Bank, Infosys Tech; Jinal Steel, Pantaloon Retail, Powergrid, Reliance, Rel. Infra, Rel.
Power, Ruchi Soya, Sesa Goa, Sintex, Suzlon, Syndicate Bank, Tata Chemicals, Tata Motors, Tata Motors DVR,
TCS, Union Bank, Uniphos, Vijaya Bank, GMR Infra, Idea, ITC, Shriram Transport
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