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.
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 390 | 383 | 396 | 405 |
| S.SELL BELOW | 381 | 385 | 376 | 364 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 275 | 268 | 281 | 289 |
| S.SELL BELOW | 267 | 270 | 262 | 250 |
| 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 |
