The document provides a daily technical outlook for the Indian stock market. It summarizes that markets witnessed a subdued opening and remained range bound, failing to sustain higher levels due to a lack of follow up buying support. Key indices closed the day with modest losses near the lows. Technically, market breadth remained negative on higher volumes, and several technical indicators are signaling further downside pressure. The support and resistance levels for key indices are provided.

1. Daily Technical Outlook
12th July 2012
Indices * Close % Chg.
All eyes on Infosys, TCS Q1 numbers and IIP
BSE SENSEX 17489.14 -0.73
S&P CNX NIFTY 5306.30 -0.73
Mirroring the negative global market cues the domestic
NIFTY JULY FUT. 5322.90 -0.66 markets witnessed a subdue opening. The overall trend
India VIX 18.39 3.14 remained range bound. Though, markets showed occasional
S&P CNX NIFTY Technical Levels
signs of moving higher lack of follow up buying support and
sustained selling pressure saw markets fail to sustain higher.
Level 1 Level 2 Level 3
The markets ended the day with modest losses to close near
Support 5250 5114 5088
the lows for the day. The top losers for the day were BHEL,
Resistance 5333 5379 5464 TCS, Jindal Steel, ACC, ITC, HUL, Powergrid, Hero
Moving Averages S&P CNX NIFTY
Motorcorp, Sun Pharma and Grasim.
50 Day SMA 5060.45 Technically, the market breadth remained negative
100 Day SMA 5179.85 amidst higher volumes, which is a negative sign for the
200 Day SMA 5088.53 ◄Critical markets. The global market cues are negative as Federal
Reserve defers on Q3. The domestic markets are likely to
Market Breadth * BSE NSE
witness a subdue opening. The prevailing technical
Advances 1211 546 negatives continued to weigh on the market sentiment.
Declines 1617 942 Further the RSI and KST has once again slipped below
Same 112 71 their respective averages. The Stochastic is already
Total 2940 1559 placed below its average. Further, the Nifty’s 50-day SMA
A/D Ratio 0.75 : 1 0.58 : 1 remains placed below its 100-day SMA and 200-day SMA.
These negative technical conditions would continue to
Volume (Lacs Shares) * prompt selling pressure on the bourses. However, a few
11/07/12 10/07/12 % Chg. technical positives still hold good. The MACD remains
BSE 2249 2341 -3.93 placed above its average. Moreover, the MACD and KST
NSE 6571 6429 2.21 are also placed in the positive territory, which augurs
Total 8820 8770 0.57
well for the markets. The Nifty remains placed above the
50-day SMA, 100-day SMA and 200-day SMA. These
Turnover ( ` Crores) * positive technical conditions would prompt buying
11/07/12 10/07/12 % Chg. support at lower levels. However, a few technical The
BSE 2087.87 2004.12 4.18 ADX line and +DI line though are placed above the 30
level, these are struggling to sustain higher indicating
NSE 10105.15 9513.91 6.21
profit taking and selling pressure is being witnessed at
NSE F&O 87625.6 100391.57 -12.72
higher levels are trending upwards and have moved
Total 99818.62 111909.60 -10.80
above the 30 level indicating buyers are gaining strength.
F&O Contracts Traded (NSE) * The market sentiment remains tentatively positive but
follow up buying support remains elusive. Now it is
11/07/12 10/07/12 % Chg.
important that the markets witness buying support at
Index Fut. 296135 399418 -25.86
lower levels so that Nifty does not breach the 5250
Stock Fut. 412437 445239 -7.37 support level. Intermediate bouts of volatility would be
Index Opt. 2253406 2750957 -18.09 witnessed. In the meanwhile the markets would take cues
Stock Opt. 277020 166677 66.20 from the earnings season, IIP numbers, Rupee, global
Total 3238998 3762291 -10.29 markets and the crude prices. The support levels for Nifty
NOTE - * - Source – BSE & NSE
are placed at 5250, 5114, 5088 and 4950. The Nifty faces
resistance at the 5333, 5379, 5464 and 5500 levels.
Sanjay Bhatia (AVP – Technical Research), Email sanjay@keynotecapitals.net Yahoo 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. Jaldi 5
(Short Term Technical Ideas for 5 Trading Days)
Stop
Initiation Stop Loss Target
Stock Close Action Price Loss * (%) Target (%) Remarks
Bank of Baroda 735.65 Buy Above 738.00 719.00 2.57 775 5.01
BPCL 776.80 Buy Above 780.00 763.00 2.18 818 4.87
GE Shipping 264.35 Buy Above 266.50 260.00 2.44 280.00 5.07
* 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 17489 17513 17559 17629 17745 17443 17397 17281
S&P CNX NIFTY 5306 5314 5328 5351 5387 5292 5278 5242
NIFTY JULY FUT. 5323 5329 5346 5369 5408 5306 5290 5250
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
Adani Power, BoB, BPCL, Chambal Fert; Divis Labs, GE Shipping, Glaxo, Kotak Bank, Karnataka Bank, L&T, Patel Engg;
TVS Motor, Ultratech Cement, Union Bank, Unitech, VIP
BEL, Colgate, Federal Bank, HUL, NALCO, NMDC, Raymond, Renuka Sugar, Sun TV, Wipro, Yes Bank
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