1. Daily Technical Outlook
11th May 2012
Indices * Close % Chg. The domestic markets witnessed a positive opening. Short
BSE SENSEX 16420.05 -0.36 covering and selective buying was witnessed in early trades
S&P CNX NIFTY 4965.70 -0.18 as RBI intervened by announcing curbs halting the Rupee
NIFTY May FUT. 4966.80 -0.34 depreciation. Selling momentum increased in the afternoon
India VIX 22.72 -1.38 trade on back of weak European market cues. The markets
once again failed to show any resilience. The markets
S&P CNX NIFTY Technical Levels however, managed to bounce back respecting the 4950
Level 1 Level 2 Level 3 support level. The markets ended with modest losses to close
Support 4950 4777 4636 near the lows for the day. The top losers for the day Maruti,
Resistance 5070 5106 5250 Jindal Steel, Ranbaxy, PNB, Asian Paints, SBI, Powergrid,
Coal India, Hero Motorcorp and Sterlite.
Moving Averages S&P CNX NIFTY
50 Day SMA 5252.21 Technically, the market breadth remained negative
100 Day SMA 5158.38 amidst lower volumes. The global market cues are
200 Day SMA 5105.94 ◄ Crucial divergent. The domestic markets are likely to witness a
flat opening. The Nifty remains placed below its long-
Market Breadth (NSE) * term moving average the 200-day SMA. The prevailing
Advances 616 technical negatives still continue to hold good and are
Declines 852 likely to weigh on the market sentiment. The Stochastic,
Same 83 KST, MACD and RSI are still placed below their
Total 1551 respective averages. More so the KST and MACD are
A/D Ratio 0.72 : 1
placed in the negative territory and warn of impending
selling pressure. The Nifty also remains placed below its
Volume (Lacs Shares) * 50-day SMA, which is a short term negative. These
10/05/12 09/05/12 % Chg. negative technical conditions would lead to further
BSE 1967 2297 -14.37
selling pressure. The ADX line and +DI line are move
sideways, but –DI line is placed at the 31.58 level and is
NSE 6405 6625 -3.32
moving down indicating sellers are covering shorts t
Total 8372 8922 -6.16
lower levels. However, a few positives still hold good.
Turnover ( ` Crores) * The Stochastic and RSI has moved in the over sold zone.
10/05/12 09/05/12 % Chg.
The Nifty’s 50-day SMA remains placed above Nifty’s
100-day SMA and 200-day SMA. More so, the Nifty’s 100-
BSE 1941.62 2069.31 -6.17
day SMA is placed above the Nifty’s 200-day SMA. These
NSE 9693.13 11013.89 -11.99
positive technical conditions would prompt short
NSE F&O 110722.89 116227.75 -4.74 covering and selective buying support at lower levels.
Total 122357.64 129310.95 -5.38 The market sentiment remains negative. Now, it is
important that the markets witness buying support at
F&O Contracts Traded (NSE) *
regular intervals for the Nifty to move higher. The 200-
10/05/12 09/05/12 % Chg.
day SMA remains a crucial resistance level for the
Index Fut. 515964 537569 -4.02 markets. In the meanwhile the markets would take cues
Stock Fut. 465755 526951 -11.61 from the IIP numbers, monthly inflation data, USDINR, Q4
Index Opt. 3287850 3405477 -3.45 results season along with global markets and the crude
Stock Opt. 177028 188907 -6.29 prices. The support levels for Nifty are placed at 4950, 4777
Total 4446597 4658904 -2.78 and 4636. The Nifty faces resistance at the 5070, 5106, 5250
and 5333 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
Andhra Bank 104.25 Sell Below 103.40 105.85 2.37 98 5.22
Apollo Tyre 81.70 Sell Below 79.65 82.80 3.95 74 7.09
TGT of 150
Achieved
given Sell @
158.50 on
NTPC 149.40 Sell Below 148.00 151.60 2.43 140 5.41 04/05/12
Colgate 1164.60 Buy Above 1170 1147.00 1.97 1220 4.27
* 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 16420 16490 16602 16784 17079 16307 16195 15900
S&P CNX NIFTY 4966 4985 5020 5074 5163 4931 4896 4807
NIFTY MAY FUT. 4967 4986 5027 5086 5187 4926 4886 4786
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
Aban, ABB, AB Nuvo, APIL, Andhra Bank, Apollo Tyre, Aurobindo Pharma, Century Textiles, Crompton Greaves,
Escorts, Essar Oil, GMR India, Godrej Inds; GVK, HDIl, Hero Motorcorp, IFCI, IVRCL, Jindal Saw, Jindal Steel,
JP Associates, Jubilant Foods, Karnataka Bank, LIC Hsg; McDowell, NHPC, NTPC, PNB, Powergrid, PTC, Punj
Lloyd, SBI, Suzlon, ZEEL
Bharat Electronics, BEML, Bhushan Steel, BPCL, IDFC, Sobha, Sterlite, Tata Chemicals, Tata Motors DVR,
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