1. Daily Technical Outlook
25th April 2012
Indices * Close % Chg. Mirroring the divergent global market cues, the domestic
BSE SENSEX 17207.29 0.65 markets opened on a flat note but drifted lower. The markets
S&P CNX NIFTY 5222.65 0.42 managed to bounce back from lower levels. The markets
NIFTY APRIL FUT. 5224.35 0.50 witnessed steady buying support was helping the Nifty moved
India VIX 19.25 -10.75 higher and sustain above the 5200 level. Though, the trend
remained range bound the markets did not show any signs of
S&P CNX NIFTY Technical Levels weakness. The markets ended the day with moderate gains
Level 1 Level 2 Level 3 to close near the highs for the day. The top gainers for the
Support 5161 5037 4955 day were TCS, SAIL, Wipro, HCL Tech; Tata Power, Hero
Resistance 5400 5681 5728 Motocorp, Tata Steel, Ranbaxy, Infosys Tech; and Hindalco.
Moving Averages S&P CNX NIFTY Technically, the market breadth remained negative
50 Day SMA 5329.81 amidst lower volumes. The global market cues are
100 Day SMA 5124.69 divergent. The domestic markets are likely to witness a
200 Day SMA 5134.42 ◄ Crucial flat opening. The few prevailing technical positives
helped the markets move higher. The KST has once
Volume (Lacs Shares) * again moved above its average. More so the MACD
24/04/12 23/04/12 % Chg. already remains placed above its average. The Nifty
BSE 1777 1992 -10.79 continues to sustain above its long-term moving average
NSE 5441 5576 -2.44 the 200-day SMA. Moreover, the Nifty’s 50-day SMA
Total 7218 7568 -4.64
remains placed above Nifty’s 100-day SMA and 200-day
SMA, the later being called the “Golden Cross” breakout.
Turnover ( ` Crores) * These positive technical conditions would prompt buying
24/04/12 23/04/12 % Chg. support at lower levels. However, the prevailing technical
BSE 2308.53 2033.13 13.55 negatives also continue to hold good. The Stochastic
NSE 11541.23 9345.22 23.50
and RSI are placed below their respective averages.
These conditions would lead to selling pressure. The
NSE F&O 150123.31 163080.44 -7.95
ADX line, +DI line and –DI line continue to move
Total 163973.07 174458.79 -6.01
sideways indicating that markets would continue to
F&O Contracts Traded (NSE) * remain range bound. The market sentiment remains
cautious. Now, it is important that the markets witness
24/04/12 23/04/12 % Chg.
follow up buying support at regular intervals for the Nifty
Index Fut. 643439 545708 17.91
to move higher and test the crucial 5400 resistance level.
Stock Fut. 1012629 734508 37.86 The markets will witness intermediate bouts of volatility
Index Opt. 3753825 4612346 -18.61 and choppiness due to the impending derivative segment
Stock Opt. 244077 247737 -1.48 expiry. In the meanwhile the markets would take cues
Total 5653970 6140299 -14.04 from the forthcoming Q4 results along with global
markets and the crude prices. The support levels for Nifty
Market Breadth (NSE) * are placed at 5161, 5037 and 4955. The Nifty faces
Advances 658 resistance at the 5400, 5681, 5728 and 5885 levels.
Declines 795
Same 88
Total 1541
A/D Ratio 0.83 : 1
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
Bharta Forge 313.30 Sell Below 312 320.55 2.74 293 6.09
TGT of 300
Achieved
given Sell @
311 on
Bharti Airtel 307.35 Sell Below 305 311.00 1.97 292 4.26 24/04/12
TGT of 85
Achieved
given Sell @
88.75 on
Idea 79.90 Sell Below 79 81.25 2.85 74 6.33 19/04/12
* 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 17207 17167 17288 17368 17569 17087 16966 16766
S&P CNX NIFTY 5223 5212 5243 5264 5316 5191 5160 5108
NIFTY APRIL FUT. 5224 5216 5247 5269 5322 5194 5164 5111
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, Ambuja Cements, Areva, Axis Bank, BEL, Bharat Forge, BHEL, Bombay Dying, CBI, Cipla,
DLF, Dr. Reddys, EKC, Esar Oil, Exide, Federal Bank, GAIL, Havells, HCC, HDIL, Hotel Leela, IB Realestate,
Idea, IGL, ITC, Jindal Steel, Jp Associates, JSW Energy, JSW Ispat, LITL, L&T, Lupin, McDowell, Piramal
Healthcare, Polaris, PTC, Punj Lloyd, Rel. Comm; Ruchi Soya, Sun TV, Tata Comm; TTML, Ultratech Cemco,
Uniphos
Bata, HCL Tech; Hero Motocorp, Hexaware, NTPC, Ranbaxy, SAIL, Sintex, Sun Pharma, TCS, UBL, Wipro
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