9 April 2012
SENSEX (Close - 17486.00) Sensex opened lower and kept on
trading in a very narrow range in the last trading session. We are now going to
open after a very long weekend and globe has changed a lot. Technicals were
already indicating for fall but now it seems that it is getting proper reasons.
US job data were not up to the mark. Technicals suggest that if we sustan below
17390 levels then we can expect a fall up to 17200 levels too. Current sell off
can be brutal in nature. As Sensex has failed to even test 17700 marks so it
may become stiff short term resistance. I am again repeating that one should
not try to buy bank and reality stocks.
Support - 17390/17279/17140 Resistance - 17580/17640/17725
NIFTY (Close - 5322.90) Nifty has rebounded strongly and
closed just below 5300 levels. Shall I be bearish now? Well, there is no such
quick sign. We have good trading support at 5270 and 5240 levels. Cross over of
5317 will give us a rise towards 5357 to 5378 levels.
Support - 5270/5240/5200 Resistance - 5317/5353/5380
ICICIBANK (Close - 890.25) Close below 900 will remains
concerning in near term trades. Technicals are suggesting tat we should again
prepare to see levels near to 850. I suggest to trade on short side keeping
stop loss above 900 levels.
Support - 880/868/852 Resistance
- 898/908/917
TATASTEEL (Close - 475.55) Metal stocks can be on weaker
side for this week of trade. As globe is already fearing for the return of
recession so we may see some easing in metal stock price. Short this stock with
stop loss above 480 levels for the target of 454.
Support - 469/462/454 Resistance
- 480/486/493
IVRCL Looking very very hot... Essel Group try to take over
by higher price Buy in Future
BHEL Crossover yesterday high 276 and sustained With volume
trend looks good... Downside support 270...
SBI Consider support 2130-2100 As long as hold, do not worry
bulls - up-move continue
AXIS Bank: (1167) Buy considering 1155 a crucial support
keeping stop loss of 1131. Upward side crossover above 1175 it'll spurt up to
1221 & 1236. Downward side break below 1131 it'll turn weak & fall down
to 1108 & 1070.
DHANLAKSHMI Bank: (75) Buy considering 73 a solid support
keeping stop loss of 69. Upward side it'll spurt up to 79 & 86.
SINTEX: (86) Buy considering 85 a solid support keeping stop
loss of 83. Upward side crossover above 90 it'll spurt up to 97 & 101.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
710
|
691
|
724
|
745
|
|
S.SELL BELOW
|
688
|
696
|
675
|
645
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
176
|
173.5
|
178.5
|
182.4
|
|
S.SELL BELOW
|
173
|
174.5
|
171
|
166
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
175
|
171.9
|
178
|
182.5
|
|
S.SELL BELOW
|
171
|
173
|
168.5
|
163
|
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