1. Daily Technical Outlook
29th March 2012
Indices * Close % Chg. Mirroring the negative global market cues the domestic
BSE SENSEX 17121.62 -0.79 markets witnessed a subdue opening. Selling pressure was
S&P CNX NIFTY 5194.75 -0.92 witnessed in the early morning trades. The markets managed
NIFTY APRIL FUT. 5247.15 -0.09 to come off the lows for the day on back of short covering and
India VIX 24.87 -0.71 selective buying support. However, lack of follow up buying
support and sustained selling pressure at higher levels saw
S&P CNX NIFTY Technical Levels the markets move lower. The markets failed to show any
Level 1 Level 2 Level 3 resilience and breached the 5200 level. The markets ended
Support 5161 5037 4955 the day with moderate losses to close near the lows for the
Resistance 5400 5681 5728 day. The top losers for the day Caarn India, JP Associates,
Rel. Power, Sesa Goa, Kotak Bank, Rel. Comm., Sterlite,
Moving Averages S&P CNX NIFTY SBI, Hindalco and ICICI Bank.
50 Day SMA 5301.74
100 Day SMA 5072.47 Technically, the market breadth remained negative
200 Day SMA 5151.19 ◄ Crucial amidst higher volumes, which is a negative sign for the
markets. The global market cues are negative. The
Volume (Lacs Shares) * domestic markets are likely to witness a negative
28/03/12 27/03/12 % Chg. opening and Nifty may breach its 200-day SMA on
BSE 4981 3024 64.72 opening. The prevailing few technical negatives
NSE 6968 7879 -11.57 continued to weigh on the market sentiment. The
Total 11949 10903 9.59
Stochastic, MACD, RSI and KST are placed below their
respective averages. More so the KST is placed in the
Turnover ( ` Crores) * negative territory and warns of an impending selling
28/03/12 27/03/12 % Chg. pressure. These conditions would lead to intermediate
BSE 3685.71 2906.29 26.82
bouts of selling pressure, especially at higher levels. The
Nifty is placed below its 50-day SMA, which is a short
NSE 10906.72 13131.70 -16.94
term negative. However, the markets are likely to witness
NSE F&O 189039.70 213297.71 -11.37
intermediate bouts of pull back rally as the Stochastic is
Total 203632.13 229335.70 -11.21 still placed in the over sold territory. The Nifty also
F&O Contracts Traded (NSE) * remains placed above its 200-day SMA. Moreover, the
Nifty’s 50-day SMA remains placed above Nifty’s 100-day
28/03/12 27/03/12 % Chg.
SMA and 200-day SMA. These conditions would help in
Index Fut. 740509 1002229 -26.11
witnessing short covering and selective buying support
Stock Fut. 897032 976899 -8.18 at lower levels. The ADX line, +DI line and –DI line
Index Opt. 5374593 5916126 -9.15 continue to move sideways indicating a range bound
Stock Opt. 139334 150601 -7.48 trend. The market sentiment remains negative. Now, it is
Total 7151468 8045855 -6.87 important that the markets witness buying support at for
the Nifty to move higher and test the crucial 5400
Market Breadth (NSE) * resistance level. The markets are likely to remain volatile
Advances 366 due to impending derivative segment expiry today. In the
Declines 1144 meanwhile the markets would take cues from the global
Same 45 markets and the crude prices in absence of domestic
Total 1555 cues. The support levels for Nifty are placed at 5161, 5037
A/D Ratio 0.32 : 1
and 4955. The Nifty faces resistance at the 5400, 5681, 5728
and 5885 levels.
NOTE - *- Source – BSE & NSE
Sanjay Bhatia (AVP – Technicals), Email Id sanjay@keynotecapitals.net Yahoo Chat Id: keytechnicals@yahoo.in
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. 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 Ports 118.25 Sell Below 117 120.25 2.78 110 5.98
EKC 30.10 Sell Below 30 32.25 8.40 25 15.97
HDIL 82.55 Sell Below 82 85.25 3.96 75 8.54
* 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 17122 17136 17232 17342 17547 17026 16930 16724
S&P CNX NIFTY 5195 5200 5231 5267 5334 5164 5133 5066
NIFTY APRIL FUT. 5247 5254 5288 5328 5402 5214 5181 5107
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com

3. Disclaimer
This document is not for public distribution and has been furnished to you solely for your information and must not be
reproduced or redistributed to any other person. Persons into whose possession this document may come are
required to observe these restrictions.
This material is for the personal information of the authorized recipient, and we are not soliciting any action based
upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Keynote
Capitals Ltd. It does not constitute a personal recommendation or take into account the particular investment
objectives, financial situations, or needs of individual clients.
We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable
though its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected
with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their
own investigations and take their own professional advice. Price and value of the investments referred to in this
material may go up or down. Past performance is not a guide for future performance. Certain transactions -including
those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial
risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s
price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not
match with a report on a company’s fundamentals.
Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to
update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or
other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking
statements are not predictions and may be subject to change without notice. Our proprietary trading and investment
businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short
positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other
transaction involving such securities and earn brokerage or other compensation or act as a market maker in the
financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company
(ies) or have other potential conflict of interest with respect to any recommendation and related information and
opinions.
The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal
views about the subject company or companies and its or their securities, and no part of his or her compensation
was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.
No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior
written consent.
Keynote Capitals Ltd.
th
4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com