Today Market Technical Research Report 29.05.2012.

                                                                                                            29.05.2012.

SENSEX (Close - 16416.80) Sensex moved above 16378 and closed on better note. Majority of rise came in last 30 minutes of trades, which is indicating that rise was dominated by short covering. If Sensex able to stay positive today then one can expect levels of 16520 and then a move towards 16670. It is not going to be so simple today. As long as it stay above 16378 we cannot short this market. Market will again try to take global cues which is not as strong as when we closed yesterday. I am already advising caution at higher levels but on chart it is still looking for more rise.

Support - 16370/16290/16190    Resistance - 16530/16670/16725

NIFTY (Close - 4985.65) Nifty came almost at 4998 which I have stated yesterday. A cross came above 4956 then even after choppy day it came towards technical target. Market is running short of steam now so we may not advance further. Technical charts are saying that it is not going to cross 5040.

Support - 4856/4830/4889                      Resistance - 4998/5018/5040

LT (Close - 1204.60) If this stock manage to sustain above 1212 then we can expect for amove towards 1240 levels. I suggest to trade on long side above 1212 with stop loss at 1202.We can expect weakness only below 1184 levels. Cross over of 1240 will push higher towards 1256.

Support - 1194/1184/1170                      Resistance - 1212/1228/1240

TATAMOTORS (Close - 276.60) It has a gap down from 290 to 277 on 16 May 2012. After consolidating lower it is coming near to those gap down. Will it fill the gap? Charts are suggesting to trade on long side if it manage to sustain above 278. Place stop loss at 276 after excution of trade. Expected target is 284.

Support - 273/270/267                Resistance - 278/282/285

SBIN (Close - 2101.30) It has moved by 200 rupees in past four trading sessions. Well, still we can sense that this the only blue chip stocks which has given better sign of strength. Now one has to be cautious and think to buy only it magae to sustain above 2116 levels.

Support - 2078/2040/2005                      Resistance - 2116/2145/2180

BHEL After a long time consolidation... Ready to move... Major short-covering on the card As long as hold 210 looks good

AXIS Bank: (1027) Buy considering 1018 a solid support keeping stop loss of 1005. Upward side it'll spurt up to 1046 & 1080.

DHANLAXMI Bank: (56) Buy considering 54.75 & 54 solid supports keeping stop loss of 53. Upward side it'll spurt up to 58.50 & 61.

IDBI: (89) Buy considering 88.50 a solid support keeping stop loss of 87.50. Upward side it'll spurt up to 92, 95.50 & 98.

ICICI Bank: (834) Buy considering 827 & 825 solid supports keeping stop loss of 818. Upward side it'll spurt up to 845 & 855.

SHALPAINTS  ( Shalimar Paints Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	630	605	655	685
S.SELL BELOW	602	610	578	530

GMDCLTD  ( Gujarat Mineral Deve Corp Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	173	170.5	174.5	177.5
S.SELL BELOW	170	171.5	168.8	164.8

BATAINDIA ( Bata India Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	918	906	923	933
S.SELL BELOW	903	912	900	885

Today Market Research Reports 25.05.2012

18 May 2012

SENSEX (Close - 16070.50) Sensex refused to maintain its relief rise and closed on marginal positive. Nightmare comes true as all global market is slipping right now with more than 2%. Moody downgrade 16 spanish banks, these are the same news flow which was rejected by market in the month of January. Now sentiment is against market and reaction is so violent. If Greece get defaulted then it will trigger a massive chain reaction of default. Technical charts are suggesting for another steep fall towards 15700, majority of those will come as gap down. Sensex is falling from 17430 and preparing to hit 15700, a full 1700 points of fall in past 13 days. This is now beginning of problem as market is not ready to take any support. Its the time for global recession. Market will be waiting for quarterly result by SBIN and TATASTEEL.

Support - 15800/15700/15500                Resistance - 16110/16240/16380

NIFTY (Close - 4870.50) Nifty is not only going to break 4830 but it seems that we will open even below 4800. I am really shocked with this kind of fall. I was expecting recovery for 2-3 days but it is not working. Below 4800 we will have support t 4766 and 4740. Prepare for a massive and real massive fall in coming few weeks/months.Support - 4800/4766/4740            Resistance - 4900/4930/4986

LT (Close - 1163.50) I kept on criticizing capital goods stocks in past few weeks. This stock has failed to cross 1240 and kept on falling. For today's trading one can trade on short side for a move towards 1110 levels. Gap down will spoil majority of technical fall.

Support - 1148/1130/1110                                  Resistance - 1178/1189/1206

BHEL (Close - 206.10) Trade short on this stock for fall below 200. I have quoted for the target of 190 in short term earlier. Those target will come without any recovery. We may expect trade below 200 by today itself. If open only at 200 then ignore.Support - 200/295/190            Resistance - 209/212/215

AXISBANK (Close - 951.30) I have quoted for a remarkable fall on May 2 but I was not expecting this to come so rapidly. We are about to get 900 now. Technical charts are suggesting for trade on short side with stop loss above 960.Support - 940/924/900                Resistance - 960/972/984

JP ASSOCIATES Yesterday finally broken support level 60 with volume And closed below indicate more down side in coming days No long and bottom fishing... Lower level target 50+ If not cross and close above...?

ICICI Bank: (820) Buy considering 814 & 809 solid supports keeping stop loss of 801. Upward side it'll spurt up to 828, 837 & 857.

SBI: (1971) It'll surge up to 2002 initially where profit booking will be seen. Downward side 1951 & 1925 crucial supports. Break below 1925 it'll turn weak & fall down to 1893 & 1873. Upward side crossover above 2002 it'll sustain on higher levels & surge up to 2031 & 2063.

TATA MOTORS: (267) Buy considering 262 a solid support keeping SL of 257. Upward side it'll surge up to 275.

BHUSANSTL LTP RS 442.30 BUY BETWEEN RS 438-439 STOP LOSS RS 426 TARGET RS 467 (SPOT LEVELS) FOR 5-8 TRADING SESSIONS

TECHM  ( Tech Mahindra Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	670	651	691	717
S.SELL BELOW	647	655	628	590

PANTALOONR  ( Pantaloon Retail (I) Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	153	147	156.5	161.5
S.SELL BELOW	146.5	148.5	143	135

Today Market Research Reports 24.05.2012

17 May 2012

SENSEX (Close - 16030.10) Sensex has finally broken the levels of 16000 in last trading session but somehow manages to close above 16000 levels. Technical charts are suggesting for the support at current levels. We have already slipped so sharply from 17432 that I cannot rule out the possibility of correction against those fall. It seems that first corrective rise can take Sensex towards 16428. Technical support for today's trading will be at 15900. I am not advocating for short trades at current levels from yesterday onwards. You can read my blog to see the complete technical. You can blame fall in INR for the sell off in Stock market. Real reason is that India is in slowdown or on the verge of slow down from past many months. I am retaining my views from past many months. One rise comes and Indian forget all problem (I am not amongst those, are you?). Greece will have mid trem poll on June 17.

Support - 15975/15900/1580                                          Resistance - 16180/16310/16428

NIFTY (Close - 4858.25) Nifty has a technical support at 4951 which was saved yesterday. Break below 4986 has pushed the support lower. It is still weak and may fall up to 4913 but a reaction can expected after sharp fall. This reaction can extend up to 5060 to 5080 levels.

Support - 4951/4930/4913                                              Resistance - 4999/5021/5060

SBIN (Close - 1827.70) it hit a low of 1802.20 yesterday and bouced. It has strong technical support at 1780 which is still untested but we may see some bounce before moving towards those levels. Buy this stock with stop loss at 1810. You can hope for a move towards 1880 levels.

Support - 1810/1800/1780                                              Resistance - 1845/1863/1880

INFOSYS (Close - 2368.45) This stock will have good support at 2350 level. I tried yesterday to trade long and I will try long trade again. Technical charts are suggesting that we can buy this stock with 2350 for a move towards 2400 and then 2430.

Support - 2350/2323/2300                                              Resistance - 2400/2430/2458

TATA MOTOR Sell on rise strategy... Below 258 further downward pressure likely

DLF Below 180 decisively break Non-stop target 172...

M&M Closed below 2012 low... Lower level target 600-580

MARUTI: (1151) 1173 a nearest resistance crossover above which it'll surge up to 1190, sell on higher levels keeping stop loss of 1224. Downward side 1139 & 1116 crucial supports. Break below 1116 it'll heavily fall down to 1087 & 1070.

IDEA: (75) Sell considering 76.50 a solid resistance keeping stop loss of 78. Downward side it'll fall down to 68.

GAIL  ( Gail (India) Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	327	322	330	336
S.SELL BELOW	320	325	318	311

JETAIRWAYS  ( Jet Airways (India) Ltd. ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	324	315	332	342
S.SELL BELOW	313	316	306	290

WOCKPHARMA  ( Wockhardt Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	815	783	848	888
S.SELL BELOW	780	788	748	685

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Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	815	783	848	888
S.SELL BELOW	780	788	748	685

Today Market Technical Research Report 23.05.2012

23 May 2011

SENSEX (Close - 16026.41) Sensex again slipped lower from our given resistance of 16350. It is the impact of weak rupee which is now just near 55.50 against USD. UPA were celebrating a dinner party last night while it was the time for some meeting to take urgent steps. It seems government has already given up and so I cannot expect any improvement in forex market. Technical charts are suggesting for the re test of 15810 marks and it may happen by today only. One must watch USD/INR movement and ignore all positive cues of europe or anywhere in the world. We are heading towards deep and real deep troubles. Just avoid any kind of buying as buying can back fire you anytime and at any levels. INR is moving towards a levels which could create crisis like situation.

Support - 15900/15810/15700                            Resistance - 16110/16240/16360

NIFTY (Close - 4860.50) Nifty has again tested 4850 and it is all set to prepare for the re test of 4790. I have already issed a warning about this possibility. Technical support will be at just at 4790 while we will face stiff technical resistance at 4900 levels.

Support - 4830/4790/4740                                              Resistance - 4900/4930/4956

LT (Close - 1159.75) Technical resistance will be at 1180 to 1190 zone now. This stock might be cracking towards fresh recent lows. Charts are suggesting to trade on short side with stop loss above 1176 for the target towards 1110.

Support - 1142/1128/1110                                              Resistance - 1176/1188/1201

SBIN (Close - 1938.75) It has given more than 12% of receovery from recent lows in post result days but now again it is giving signs of weakness. One can trade on short side with stop loss above 1960 for the first target at 1900 and then for 1884 also.

Support - 1909/1885/1850                                              Resistance - 1960/1980/2002

TATA MOTOR Higher-level resistance 270 and support 258 Below more downside

HDFC BANK Below 490, bear pressure in this counter

M&M: (639) Sell considering 645-650 solid resistance keeping stop loss of 656. Downward side it'll fall down to 626-623 initially which is a crucial support to watch out for where buying support not ruled out. Break below 623 it'll heavily crash down to 616 & 604.

MARUTI: (1153) It'll fall down further to 1131 initially which is a crucial support to watch out for where buying support not ruled out. In worst scenario break below 1131 it'll heavily crash down to 1105. Upward side 1173 a nearest resistance crossover above which it'll surge up to 1189-1199, sell on higher levels keeping stop loss of 1225.

ICICI Bank: (801) Sell considering 815 a solid resistance keeping stop loss of 824. Downward side break below 795 it'll fall down to 779 & 768.

APPAPER  ( AP Paper Mills Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	241	237	248	258
S.SELL BELOW	235	238	229	220

WOCKPHARMA  ( Wockhardt Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	725	692	753	789
S.SELL BELOW	690	697	660	600

BAJAJELEC  ( Bajaj Elect.ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	232	229	234	238
S.SELL BELOW	228	231	225	221

Today Market Research Report 22.05.2012

22 May 2012

SENSEX (Close - 16183.26) Sensex opened higher but closed very near to the lowest levels of the day. Still it was moderately higher than the previous trading day. Daily charts are still showing for choppy to flat moves. US indices inches higher and that may try to add some initial strength in the market. INR has slipped even below 55 against USD. Whenever market trades higher, we are getting some outflow by FII in recet days. Rupee movement is concerning and capable to take out positive cues. Sensex need to sustain above 16350 to give signs of further revival. I am again advising caution at higher levels as long as we stay below 16350 levels.

Support - 16125/16000/15900                Resistance - 16350/16430/16500

NIFTY (Close - 4906.05) Nifty has tremendous resistance in the zone of 4930 to 4950. We need to stand comfortablly above this zone to bet for 5000-5040. I can say that it will not be so easy to cross those odd 20 points on Nifty. Support stand at 4880.

Support - 4880/4850/4790                                  Resistance - 4950/4976/5000

TATA STEEL (Close - 402.75) There are two ways to trade this stock. In initial minutes it will be a buy with stop los at 398 for a move towards 410 to 413 levels. Suppose if it stand below 398 then it will again move towards 388 levels.

Support - 398/394/388                            Resistance - 409/413/419

SBIN (Close - 2009.50) As long as it stand above 2000 we can expect the test of 2050 levels on higher side. I still suggest to trade on long side with stop loss at 1990. You can expect levels near 2050. I am still suggesting to be cautious about selling at higher levels.

Support - 1990/1974/1956                                  Resistance - 2030/2050/2080

RELCAPITAL (Close - 313.95) It is rebounding from 281 and closed above crucial 309 levels. I suggest to trade on long side with stop loss at 309 for the technical target at 324. Cross over of 324 may push it higher towards 332 but I am sensing selling at higher levels.

Support - 309/304/298                            Resistance - 319/324/332

IDEA Consider resistance 83-85 If not cross next few session, we will see... Downside target...?

RELIANCE Time to trend change... Hold 675, bull will have upper hand

TATA STEEL Yesterday we mentioned to sell... But now today - some more short covering But strong resistance 415-420 range Trend change above only

ICICI BANK Looks positive - in FO Segment Time buy if cross... For target 840-850 range

SUZLON LTD Lower level our target 12-13 In coming days... Garbage stock... Do not buy...

RIIL  ( Reliance Industrial Infrastructure Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	398	381	415	435
S.SELL BELOW	378	385	364	330

IGL  ( Indraprastha Gas Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	214	211	216	220
S.SELL BELOW	209	212	204	200

RELCAPITAL  ( Reliance Capital Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	315	310	319	325
S.SELL BELOW	308	312	305	298