23 March 2012
SENSEX (Close - 17196.47) Sensex came under gravity when it
was looking to take a take off. Well, it was not entirely unexpected fall after
sought over CAG report about coal scam. Situation turned worse after weak
global data. We have seen selling over 400 points but FII data is still on buy
side in cash market. They bought nearly Rs 246 crores. We have technical
support at 17000 levels. It is looking very likely that it going to move
towards those levels. We have seen some massive selling in blue chip stocks
like Reliance and LT which has just gained a day before yesterday.
Support - 17000/16880/16800 Resistance - 17310/17480/17525
NIFTY (Close - 5228.45) Nifty has broken critical support of
5300 and selling intensified. Technicals suggest that we may see a dip towards
5160-5170 levels. Break below 5160 will cause a fall towards 5080 levels. On
higher sode 5270 and 5300 will act as stiff resistance.
Support - 5199/5160/5080 Resistance - 5270/5300/5338
RELIANCE (Close - 736.35) It has broken 750 levels and
closed on lowest levels of past two months of trades. Be ready to see levels
near 700. We will see massive resistance at 750 for today. I am suggesting to
trade short on any rise and keep stop loss at 750.
Support - 724/713/700 Resistance
- 750/758/770
ICICI BANK (Close - 899.65) We have seen selling on this
stock 940 and closed just below 900 levels. It should first try to move towards
874 levels. I suggest to trade on short side and keep stop loss above 913
levels. One sould use intraday pullback.
Support - 888/874/859 Resistance
- 909/921/940
LT (Close - 1296.90) It has gained a day before yesterday
and then seen a fall in the past trading session. We have most critical support
at 1276. You can short this stock with stop loss above 1313. If it breaks below
1276 then hold for massive fall.
Support - 1276/1254/1210 Resistance - 1313/1328/1340
HINDALCO: (133) Sell considering 134.50 & 136.75 solid
resistances keeping stop loss of 139. Downward side it'll fall down to 128.75
& 120.
MARUTI: (1331) Sell considering 1352 a solid resistance
keeping stop loss of 1357. Downward side it'll fall down to 1307, 1291 &
1267.
AXIS Bank: (1177) Sell considering 1182 & 1213 solid
resistances keeping stop loss of 1243. Downward side it'll fall down to 1143
& 1120.
SYNDICATE Bank: (110) Sell considering 111.50 & 114
solid resistances keeping stop loss of 116. Downward side it'll fall down to
104 & 101.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
730
|
709
|
742
|
760
|
|
S.SELL BELOW
|
707
|
715
|
695
|
670
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
340
|
337
|
345
|
352
|
|
S.SELL BELOW
|
335
|
339
|
331
|
325
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
242
|
240
|
246
|
252
|
|
S.SELL BELOW
|
239
|
241
|
236
|
230
|
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