1. Daily Technical Outlook
14th May 2012
Indices * Close % Chg. The domestic markets witnessed a flat opening. The markets
BSE SENSEX 16292.98 -0.77 drifted lower ahead of the IIP numbers. Selling pressure
S&P CNX NIFTY 4928.90 -0.74 gained momentum on back of disappointing IIP data.
NIFTY May FUT. 4931.35 -0.71 However, the markets managed to bounce back from the
India VIX 22.48 -1.05 4900 level. Buying momentum and short covering was
witnessed in the afternoon trade. However, markets failed to
S&P CNX NIFTY Technical Levels move above the psychologically important 5000 level on back
Level 1 Level 2 Level 3 of lack of follow up buying support and profit taking. The
Support 4777 4742 4636 markets ended the day with moderate losses to close near
Resistance 4950 5070 5106 the lows for the day. The top losers for the day Ranbaxy,
Grasim, Hindalco, Sun Pharma, Tata Power, ONGC, ACC,
Moving Averages S&P CNX NIFTY Dr. Reddys, Maruti and Cipla.
50 Day SMA 5243.08
100 Day SMA 5162.23 Technically, the market breadth remained negative
200 Day SMA 5102.88 ◄ Crucial amidst lower volumes. The global market cues are
divergent. The domestic markets are likely to witness a
Market Breadth (NSE) * flat opening. The Nifty remains placed below its 50-day
Advances 445 SMA, 100-day SMA and 200-day SMA. The prevailing
Declines 1030 technical negatives still continue to hold good and are
Same 72 likely to weigh on the market sentiment. The Stochastic,
Total 1547 KST, MACD and RSI are still placed below their
A/D Ratio 0.43 : 1
respective averages. More so the KST and MACD are
placed in the negative territory and warn of impending
Volume (Lacs Shares) * selling pressure. These negative technical conditions
11/05/12 10/05/12 % Chg. would lead to further selling pressure. The ADX line and
BSE 1913 1967 -2.75
+DI line are moving sideways, but –DI line is placed at
the 33.53 level indicating sellers are gaining strength.
NSE 6251 6405 -2.39
However, a few positives still hold good. The Stochastic
Total 8164 8372 -2.48
and RSI are placed in the over sold zone. The Nifty’s 50-
Turnover ( ` Crores) * day SMA remains placed above Nifty’s 100-day SMA and
11/05/12 10/05/12 % Chg.
200-day SMA. More so, the Nifty’s 100-day SMA is placed
above the Nifty’s 200-day SMA. These positive technical
BSE 1923.53 1941.62 -0.93
conditions would prompt short covering and selective
NSE 9264.29 9693.13 -4.42
buying support at lower levels. The market sentiment
NSE F&O 123628.56 110722.89 11.66 remains negative. Now, it is important that the markets
Total 134816.38 122357.64 10.18 witness buying support at regular intervals for the Nifty
to move higher. The 200-day SMA remains a crucial
F&O Contracts Traded (NSE) *
resistance level for the markets. In the meanwhile the
11/05/12 10/05/12 % Chg.
markets would take cues from the monthly inflation data,
Index Fut. 550359 515964 6.67 USDINR, Q4 results season along with global markets
Stock Fut. 490196 465755 5.25 and the crude prices. The support levels for Nifty are placed
Index Opt. 3778388 3287850 14.92 at 4777, 4742 and 4636. The Nifty faces resistance at the
Stock Opt. 181283 177028 2.40 4950, 5070, 5106 and 5250 levels.
Total 5000226 4446597 11.13
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
ACC 1165.95 Sell Below 1160.00 1187.00 2.33 1100 5.17
BGR Energy 294.55 Sell Below 290.00 308.00 6.21 250 13.79
Shipping Corp. 55.35 Sell Below 54.00 57.25 6.02 47 12.96
* 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 16293 16325 16416 16538 16752 16202 16111 15898
S&P CNX NIFTY 4929 4937 4968 5007 5077 4898 4867 4797
NIFTY MAY FUT. 4931 4962 5025 5118 5274 4869 4807 4651
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
Allahabad Bank, Andhra Bank, Ashok Leyland, Aurobindo Pharma, Cipla, Coal India, Crompton Greaves, Godrej
Inds; HDFC, Hindalco, Hind oil Exploration, Infosys Tech; IRB Infra, ITC, IVRCL, JSW Steel, Karnataka Bank, LIC
Hsg; L&T, Lupin, Maruti, NTPC, Orchid Chemicals, PNB, Polaris, Powergrid, PTC, Ranbaxy, SunPharma, Tata
Power, Tech Mahindra, TTK Prestige, Axis Bank, Bajaja Auto, Colgate, Federal Bank, Idea, IDFC, Jubiliant Food,
Yes Bank
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