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.
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 459 | 453 | 467 | 479 |
| S.SELL BELOW | 452 | 456 | 445 | 432 |
| 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 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 161.5 | 157 | 166.5 | 173 |
| S.SELL BELOW | 156 | 158 | 152 | 143 |
