SENSEX (Close - 17085.30) Sensex seen another rebound and once again tried to move towards the last most crucial resistance of 17212. Are these the tradable days? Very clear is no. On Tuesday, it was gap down, tomorrow it was gap up. I have always said that gaps are trader's nightmare. It seems that today we will get gap down. Strong news flows are affecting market a lot and it is not going to be easy day. Still we have trading support at 16800 which may be well respected by the market. Will it really happen? Nothing can be said in advance. I just feel that now market is in 'make of break' mode. Best thing to do is 'wait-watch and then trade'. If you are not comfortable then do not trade at all.
Support -16820/16650/16540 Resistance - 16130/17212/17500
NIFTY (Close - 5139.15) Nifty has to pass its litmus test of 5170, which it is missing from last few months. It is going to be forth attempt if it moves higher. Cross over will provide the required technical booster to trade on further extension on rise. Technical support will be at 5100 marks.
Support - 5100/5070/5030 Resistance - 5148/5170/5232
TATASTEEL (Close - 434.00) This stock has yet to cross 438 to trade on long side. If it stand above 438 then we can prefer to trade on long side but it miss at 438 then alter sense suggest that it can be a short trade with minimum stop loss above 438 only. Consider 438 as make or break levels and then trade.
Support - 429/423/417 Resistance - 438/443/450
BHEL (Close - 324.30) We have not seen the cross of 327 yet. As long as it is sustaining below 325, it has every chance of fall. Technically use levels near 324 to short this stock with stop loss just above 327. Try it again with minimum stop loss only. Do not stand short above 327.
Support - 322319/317 Resistance - 327/330/333
RELIANCE (Close - 843.00) This stock has resistance at 845. If trades sustain above 845 then it will be a buy for the target of 857-859 levels. If it fails to cross above 845 then it can give another dip which will be sign of another zigzag trade only.Support - 834/823/811 Resistance - 845/857/870
IDBI Above 105 very very hot. Above 110 more long side.
HINDALCO Some support at lower level Above 129 - stay with volume + positive Below 125 negative bias...
HDFC BANK After a long gap... Showing strength As long as hold... No problem for bulls
ICICI BANK Check - We are bullish Above 869 and already made a high 908
HERO HONDA: (2067) 2041 a crucial support, keep stop loss of 2034 to your buys. Upward side crossover above 2093 it'll spurt up to 2125 & 2144, book profit on higher levels. Downward side break below 2034 it'll turn bit weak & fall down to 2008 & 1988.
SBI: (1919) Crossover above 1933 it'll spurt up to 1966 & thereafter to 1988. Downward side 1905-1901 a solid support, keep stop loss of 1886 to your buys.
COLGATE: (1004) Buy considering 999 a solid support keeping stop loss of 991. Upward side it'll rush up to 1026 initially. Crossover above 1026 it'll shoot up to 1054 & 1072.
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 199 | 191.5 | 206 | 214 |
| S.SELL BELOW | 191 | 193 | 184.5 | 170 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 906 | 898 | 910 | 918 |
| S.SELL BELOW | 895 | 903 | 894 | 883 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 413 | 406 | 417 | 424 |
| S.SELL BELOW | 404 | 408 | 401 | 390 |
