1. Daily Technical Outlook
4th May 2012
Indices * Close % Chg. Mirroring the negative global market cues, the domestic
BSE SENSEX 17151.19 -0.87 markets opened a subdue note. Selling pressure was
S&P CNX NIFTY 5188.40 -0.97 witnessed as markets drifted lower. However, selective
NIFTY May FUT. 5199.80 -0.90 buying support was witnessed at lower levels, which helped
India VIX 19.25 3.82 the markets come off the lows for the day. But lack of follow
up buying support at higher levels and depreciating rupee
S&P CNX NIFTY Technical Levels saw the markets witness increased selling pressure. The
Level 1 Level 2 Level 3 markets ended the day with moderate losses close near the
Support 5161 5119 5037 lows for the day. The top losers for the day were Hero
Resistance 5400 5681 5728 Motocorp, Axis Bank, Bank of Baroda, IDFC, Maruti, Tata
Steel, DLF, ICICI Bank, PNB and Coal India.
Moving Averages S&P CNX NIFTY
50 Day SMA 5290.87 Technically, the market breadth remained negative
100 Day SMA 5142.72 amidst higher volumes. The global market cues are
200 Day SMA 5119.87 ◄ Crucial negative. The domestic markets are likely to witness a
subdue opening. The prevailing technical negatives
Volume (Lacs Shares) * continued to weigh on the market sentiment. Lack of
03/05/12 02/05/12 % Chg. follow up buying support has also not helped the matters
BSE 2021 1810 11.66 either. The Stochastic and RSI have slipped below their
NSE 5560 5704 -2.53 respective averages. The MACD is already placed below
Total 7581 7514 0.89
its average. More so the KST is placed in the negative
territory. The Nifty remains placed below its 50-day SMA,
Turnover ( ` Crores) * which is a short term negative. These negative technical
03/05/12 02/05/12 % Chg. conditions still hold good and would lead to selling
BSE 1921.48 1805.40 6.43 pressure. However, a few positives still hold good. The
NSE 10004.24 9575.59 4.48
KST remains placed above its average. The Nifty
continues to sustain above its long-term moving average
NSE F&O 81207.17 69746.75 16.43
the 200-day SMA. Moreover, the Nifty’s 50-day SMA
Total 93132.89 81127.74 14.80
remains placed above Nifty’s 100-day SMA and 200-day
F&O Contracts Traded (NSE) * SMA, the later being called the “Golden Cross” breakout.
Moreso, the Nifty’s 100-day SMA has crossed above the
03/05/12 02/05/12 % Chg.
Nifty’s 200-day SMA. These positive technical conditions
Index Fut. 387927 317064 22.35
would prompt buying support at lower levels. However,
Stock Fut. 419867 380083 10.47 The ADX line, +DI line and –DI line continue to move
Index Opt. 2159141 1824301 18.35 sideways, indicating that markets would continue to
Stock Opt. 147872 118464 24.82 remain range bound. The market sentiment remains
Total 3114807 2639912 13.80 cautious. Now, it is important that the markets witness
buying support at regular intervals for the Nifty to move
Market Breadth (NSE) * higher. The 200-day SMA remains a crucial support level
Advances 429 for the markets. In the meanwhile the markets would take
Declines 1046 cues from the USDINR, Q4 results season along with
Same 68 global markets and the crude prices. The support levels for
Total 1543 Nifty are placed at 5161, 5119, 5037 and 4955. The Nifty
A/D Ratio 0.41 : 1 faces resistance at the 5400, 5681, 5728 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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The Ruby, 9 Floor, Senapati Bapat Marg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

2. Short Term Trading Ideas Based On Technical Analysis (5 - 7 Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Apollo Tyre 84.75 Sell Below 84.25 86.25 2.37 80 5.04
Century Textiles 311.25 Sell Below 310.00 314.50 1.45 300 3.23
IDBI Bank 98.20 Sell Below 97.40 100.00 2.67 92 5.54
NTPC 157.00 Sell Below 155.75 158.50 1.77 150 3.69
* 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 17151 17181 17242 17332 17483 17091 17030 16879
S&P CNX NIFTY 5188 5195 5210 5232 5269 5174 5159 5122
NIFTY MAY FUT. 5200 5208 5226 5253 5297 5181 5163 5118
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

3. Stocks to watch out today
AB Nuvo, APIL, Areva, Ashok Leyland, Aurobindo Pharma, Axis bank, Coal India, DCB, Dr. Reddys, Exide, FT,
GMDC, ICICI Bank, IRB Infra, ITC, IVRCL, Jet Airways, LIC Hsg; L&T, Lupin, Maruti, Max India, NCC, NTPC,
Patel Engg; Petronet, PFC, REC, Rel. Capital, Re. Infra, SBI, Sintex, Tata Power, Tata Steel, VIP, Yes Bank,
Arvind, Asian Paints, DCHL, HDFC Bank, HUL, Raymond, TCS, Titan, Uniphos
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