1. Daily Technical Outlook
27th April 2012
Indices * Close Chg. Mirroring the positive global market cues, the domestic
BSE SENSEX 17130.67 -0.12 % markets opened on a positive note. However, selling pressure
S&P CNX NIFTY 5189.00 -0.25 % was witnessed in the morning session. The markets struggled
NIFTY May FUT. 5214.70 -0.38 % to move higher on lack of buying support. The over all trend
India VIX 18.74 -1.05 % remain ed range bound amidst lackluster volumes. The 5200
Nifty May Basis (Spot-Fut) -25.70 Abs. level remained a sticky point for the markets struggling to
sustain above it. The markets ended the day flat to close near
S&P CNX NIFTY Technical Levels the lows for the day. The top losers for the day were BPCL,
Level 1 Level 2 Level 3 Hero Motocorp, Bajaj Auto, GAIL, PNB, JP Associates, IDFC,
Support 5161 5037 4955 Rel. Comm; DLF and Rel. Power.
Resistance 5400 5681 5728
Technically, the market breadth remained negative
Moving Averages S&P CNX NIFTY amidst higher volumes. The global market cues are
50 Day SMA 5322.19 divergent. The domestic markets are likely to witness a
100 Day SMA 5128.73 flat opening. The prevailing technical negatives
200 Day SMA 5130.08 ◄ Crucial continued to weigh on market sentiment. The KST has
again slipped below its average. More so the Stochastic
Volume (Lacs Shares) * and RSI are still placed below their respective averages.
26/04/12 25/04/12 % Chg. These conditions would lead to selling pressure.
BSE 1878 1776 5.74 However, positive technical conditions still hold good
NSE 7273 5788 25.67 and would help the markets take support at lower levels.
Total 9151 7564 20.99
The MACD remains placed above its average. The Nifty
continues to sustain above its long-term moving average
Turnover ( ` Crores) * the 200-day SMA. Moreover, the Nifty’s 50-day SMA
26/04/12 25/04/12 % Chg. remains placed above Nifty’s 100-day SMA and 200-day
BSE 2401.97 2076.55 15.67
SMA, the later being called the “Golden Cross” breakout.
These positive technical conditions would prompt buying
NSE 12258.34 10478.13 16.99
support at lower levels. Further the Nifty’s 100-day SMA
NSE F&O 190370.21 198860.07 -4.27
is on verge of moving above Nifty’s 200-day SMA. As and
Total 205030.52 211414.75 -3.02 when this happens buying support is likely to gain
F&O Contracts Traded (NSE) * momentum. However, The ADX line, +DI line and –DI line
continue to move sideways, indicating that markets
26/04/12 25/04/12 % Chg.
would continue to remain range bound. The market
Index Fut. 637675 862984 -26.11
sentiment remains cautious. Now, it is important that the
Stock Fut. 1080432 1075788 0.43 markets witness buying support at lower levels for the
Index Opt. 5323510 5420962 -1.80 Nifty to take support. The 200-day SMA remains a crucial
Stock Opt. 193415 191376 1.07 support level for the markets. In the meanwhile the
Total 7235032 7551110 -1.26 markets would take cues from the forthcoming Q4
results along with global markets and the crude prices.
Market Breadth (NSE) * The support levels for Nifty are placed at 5161, 5037 and
Advances 555 4955. The Nifty faces resistance at the 5400, 5681, 5728 and
Declines 904 5885 levels.
Same 81
Total 1540
A/D Ratio 0.61 : 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
Adani Enterp. 272.75 Sell Below 270 277.00 2.59 255 5.56
Adani Ports 124.60 Sell Below 124 126.75 2.22 118 4.84
Allahabad Bank 164.45 Sell Below 164 169.00 3.36 155 5.20
NTPC 161.15 Sell Below 160 163.25 2.03 153 4.38
* 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 17131 17136 17188 17245 17354 17079 17027 16918
S&P CNX NIFTY 5189 5195 5210 5231 5268 5174 5158 5121
NIFTY MAY FUT. 5215 5223 5238 5262 5302 5199 5183 5143
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
AB Nuvo, Andhra Bk; BOI, Biocon, BPCL, Canara Bk; CBI, CESC, Cipla, Delta Corp; DLF, FT, Fortis, GAIL, JSW
Grasim, HDFC, Hexaware, Hindalco, HPCL, IDFC, India Cement, India Infoline, Indian Bk; IOB, IRB, JP Assoc;
JSW Ispat, Karnataka Bk; LITL, MLL, NHPC, NTPC, OFSS, Onmobile, OBC, Patel Engg; Petronet, PFC, Piramal
Health; PNB, Polaris, Powergrid, Praj, PTC, Ranbaxy, RComm; Rel. Power, Sintex, Syndicate Bk; Tata Chem;
TTML, Uco Bank, Uniphos, Unitech, Vijaya Bk, Welcorp; Wipro
APIL, Asian Paints, Bajaj Holdings, Idea, ITC, McDowell, McLeod Russel, Opto Circuit, Reliance
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