Today Market Trends - 03 - Nov - 2011

03 November 2011

SENSEX (Close - 17464.85) Sensex has shown another out performance. It has denied all global cues and improved a lot after weak opening but finally closed with marginal loss. News flow from US fed and Greece are little stable. We have seen great resilience yesterday in India market. Technicals are indicating for a fall but fall has not came in expected way. Technical support will remains at 17350 levels. On higher side it will face resistance above 17650. Now a day, market is not moving in pre-market expected way. I am suggesting extreme caution for trading. I am expecting fall in index but I cannot deny stock specific buying. Trading range will remains in the zone of 17650 to 17350. We need a break on either side.

Support -17350/17212/17070                            Resistance - 17600/17735/17910

NIFTY (Close - 5258.45) Nifty has saved 5200 marks in opening and bounced. Still technical direction remains same. I am expecting a fall. It may be limited as we have technical support at 5200 levels. On higher side 5300 will be a trading resistance.

Support - 5200/5170/5150                                  Resistance - 5290/5320/5350

BHEL (Close - 315.75) I have already highlighted this stock few days back also. Technicals are suggesting for a fall towards 309 right now. I am again suggesting to trade on short side on rise near 318 with stop loss above 320. If it breaks 309 then you can expect 305 too.

Support - 312/309/305                            Resistance - 318/321/324

LT (Close - 1389.95) We have not seen the cross of 1400 from past two trading session. Its the time for a decisive move. It seems that we can expect levels like 1370 now. Trade on short side and keep stop loss just above 1400 levels. If it breaks 1370 then we can see fall towards 1350.

Support - 1370/1350/1330                                  Resistance - 1400/1411/1419

ICICI BANK (Close - 885.00)This stock has not crossed 909 resistance levels and slipped even in the last trading session. Few technical indicators are suggesting for a fall towards 850 levels. I suggest to use intraday pull back near 891 to short and keep stop loss above 900.

Support - 874/862/850                            Resistance - 892/900/909

SAIL Today come out the nos. Hold 109... No problem for bulls

RELIANCE Now consider supp 870 Resistance 882 As long as hold... good. Close above 906 - one side move.

ANDHRA BANK Below 117 time to sell For target...

ICICI BANK Above 875 no problem for bulls Real move above 910-

SBI Ready to sharp move Consider support 1880.

RELINFRA  ( Reliance Infrastructure Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	459	453	467	479
S.SELL BELOW	452	456	445	432

RECLTD  ( Rural Electrification Corporation Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	186.5	183.5	189.5	193.5
S.SELL BELOW	183	185	181	175

ALBK  ( Allahabad Bank )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	161.5	157	166.5	173
S.SELL BELOW	156	158	152	143

Today Market Trends - 02-11.2011.

02 November 2011

SENSEX (Close - 17480.83) Sensex came lower yesterday but not in the same way as compared to other leading global indices. It was really surprising. Well, just on Monday I had informed you that we had no support from 17650 to 17350 and I am still retaining my view. I was thinking as 17350 as a good support but it seems that looking on fresh development on european crisis we may need to see next support. All major european indices has slipped in the range of 3% to 5%. European zone has turned to be most unpredictable zone now. It seems that Sensex can try to go towards 17000 marks. Keep on eye on development. I must be very clear that Greece is on the verge of default. Is it the beginning of split in euro zone?

Support -17350/17212/17070                Resistance - 17600/17735/17910

NIFTY (Close - 5257.95) Nifty has came closer to 100 days moving which is now running at 5235 levels. Technicals suggests that we may see the beginning below 5200. The next technical support will be at 5170. It will remains a big question if we able to see support at lower levels.

Support - 5200/5170/5130                      Resistance - 5290/5320/5350

RELIANCE (Close - 860.60) It has already failed to cross most important pivotal at 908. This fall is turning critical now. Technicals suggest for another day of fall. One should prefer to trade on short side with stop loss above 868. In the lower side we can expect a test of 845 and then 830 marks.

Support - 845/830/818                Resistance - 867/875/884

TATASTEEL (Close - 472.00) I have advised short on SAIL yesterday. Well, weakness is gripping on this stock too. Technically we can expect levels of 450 very soon. One should prefer to trade on short side with stop loss above 478. Expect 450 in a day or two.

Support - 465/458/450                Resistance - 478/484/490

TATAMOTORS (Close - 193.45) We have seen the beginning of profit taking on this stock. Technical suggest that we can see the levels of 185 on this stock which is just next meaningful support. Trade short with stop loss above 196. It has already performed with massive gain in last month.

Support - 190/187/185                Resistance - 196/198/201

PNB Bullish break out Big move in coming days Buy on decline...

TELCO We are bearish below 206 And time to sell... Break 190 - further sell off.

TCS Strong resistance 1140-1150 Reversal to sell side.

SYNDICATE BANK Consider support 100-101 And buy side...

TVS MOTORS Result day... Close eye... 65 level And your trend decider... also.

ICICI BANK Below 910 time to sell.

HINDUNILVR  ( Hindustan Unilever Ltd. )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	390	383	396	405
S.SELL BELOW	381	385	376	364

IPCALAB  ( IPCA Laboratories Ltd )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	275	268	281	289
S.SELL BELOW	267	270	262	250

PFC  ( Power Finance Corporation Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	155.5	152.5	157	160.5
S.SELL BELOW	152	153.5	150.5	146