1. Daily Technical Outlook
12th April 2012
Indices * Close % Chg. Mirroring the subdue global market cues; the domestic
BSE SENSEX 17199.40 -0.26 markets witnessed a negative opening. The overall trend
S&P CNX NIFTY 5226.85 -0.32 remained range bound as markets moved in a narrow range
NIFTY APRIL FUT. 5251.35 -0.28 for the better part of the day. Buying support gained
India VIX 22.29 1.68 momentum in the afternoon trade, which also led to short
covering. The markets ended the day with modest losses but
S&P CNX NIFTY Technical Levels closed near the highs for the day. The top losers for the day
Level 1 Level 2 Level 3 were ACC, Ambuja Cement, Rel. Infra, JP Associates, Rel.
Support 5161 5037 4955 Power, Bharti Airtel, Jindal Steel, Rel. Comm; BHEL, Sesa
Resistance 5400 5681 5728 Goa, Tata Power and Sterlite.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained negative
50 Day SMA 5334.78 amidst higher volumes, which is a negative sign for the
100 Day SMA 5082.80 markets. The global market cues are largely positive. The
200 Day SMA 5146.02 ◄ Crucial
domestic markets are likely to witness a flat opening. The
markets continued to display a range bound trend as we
Volume (Lacs Shares) * have been indicating. The prevailing technical negatives
11/04/12 10/04/12 % Chg. continue to hold good and are likely to cap upside gains.
BSE 2542 2542 0.00 The Stochastic, RSI and KST are placed below their
NSE 6853 6509 5.29
respective average, which would lead to selling pressure,
especially at higher levels. Moreover, the Nifty remains
Total 9395 9051 3.81
placed below its 50-day SMA, which is a short term
Turnover ( ` Crores) * negative. However, a few positives continue to hold good
11/04/12 10/04/12 % Chg.
and would prompt short covering and selective buying
support at lower levels. The MACD is placed above its
BSE 2126.50 2126.50 0.00
average. Moreover, the Stochastic has moved in the over
NSE 11064.53 10496.00 5.42
sold zone. The Nifty continues to sustain above its long-
NSE F&O 114860.84 82561.13 39.12 term moving average the 200-day SMA. Moreover, the
Total 128051.87 95183.63 34.53 Nifty’s 50-day SMA remains placed above Nifty’s 100-day
SMA and 200-day SMA, the later being called the “Golden
F&O Contracts Traded (NSE) *
Cross” breakout. These conditions would help in
11/04/12 10/04/12 % Chg.
witnessing buying support at lower levels. The ADX line,
Index Fut. 542057 373701 45.05 +DI line and –DI line continue to move sideways
Stock Fut. 475345 427028 11.31 indicating that markets would continue to remain range
Index Opt. 3158923 2184105 44.63 bound. The market sentiment however remains cautious
Stock Opt. 148066 130998 13.03 ahead of the IIP numbers to be announced today,
Total 4324391 3115832 31.83 forthcoming Q4 results and the impending RBI’s
monetary policy meet next week. Now, it is important that
Market Breadth (NSE) * the markets witness buying support at regular intervals
Advances 568 for the Nifty to move higher and test the crucial 5400
Declines 902 resistance level. In the meanwhile the markets would
Same 76 take cues from the global markets and the crude prices.
Total 1546
The support levels for Nifty are placed at 5161, 5037 and
4955. The Nifty faces resistance at the 5400, 5681, 5728 and
A/D Ratio 0.63 : 1
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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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
TGT of 1237
Achieved
given SELL
@ 1295 on
ACC 1244.00 Sell Below 1237 1258.00 1.70 1190 3.80 11/04/12
Ambuja Cements 160.00 Sell Below 158 158.00 0.00 150 5.06
BEML 567.70 Sell Below 561 575.00 2.50 530 5.53
Bharti Airtel 322.20 Sell Below 321 329.00 2.49 304 5.30
* 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 17199 17198 17320 17441 17685 17077 16955 16712
S&P CNX NIFTY 5227 5227 5263 5300 5373 5191 5154 5081
NIFTY APRIL FUT. 5251 5249 5295 5338 5427 5206 5160 5071
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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3. Stocks to watch out today
Adani Ports, Ashok Leyland, AB Nuvo, BHEL, Century Textiles, Exide, GAIL, Grasim, GSPL, Havells, Powergrid,
Jain Irrigation, JSW Energy, MLL, Mphasis, Opo Circuit, Petronet LNG, PNB, Polaris, Rel. Capital, Rel. Infra,
Sterlite, Tata Steel, Andhra Bank, DCB, Dena Bank, Divis Labs, FT, HUL, IDBI Bank, Jet Airways, Kotak Bank,
Lupin, M&M, Max India, Sun Pharma, Tata Motors, UCO Bank, Vijaya Bank
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