Tuesday/17 April
2012
SENSEX (Close - 17150.90) Sensex rebounded from nearer
support of 17000 marks. It was little unexpected but surely technical chart
were showing it coming. I must say that as long as Sensex hold 17000 levels we
can hope for some revival but sooner or later this market has to fall. All eye
will be on RBI monetary policy review today. There are lots of hope for 25 bps
repo rate cut and 50 bps CRR cut. I still believe that our economy is not in
the comfort levels for rate cut but if RBI wants who can stop. We have seen
February month inflation yesterday which came at 6.89% and food group inflation
at 9.94%. Yesterday RBI said that risk to upside for inflation is still intact.
Why RBI is in hurry? (CRR is already very near to historical low, I cannot see
further room for cut). Government said that prices of the follwing will soon on
rise in coming days - Petrol, Diesel, Electricity, Coal. When Government said
tat they do not want to release subsidy for more than 2% then how long can you
hold inflation at even current levels?
Support - 17110/17000/16900 Resistance - 17360/17480/17700
NIFTY (Close - 5234.40) Nifty has not sustained below 5185
levels and hence we have seen some recovery. My study remains same, as long
Nifty is not sustaining below 5185 then we can see some recovery. I have no
position and I would like to watch trading hour to decide.
Support - 5185/5135/5080 Resistance
- 52252/5274/5307
TATAMOTORS (Close - 300.70) A sharp run has seen on this
stock after a crossover above 295. Now technicals are suggesting for a move
towards 308-310 as long as 298 hold. I am suggesting to buy near 298-299 levels
and keep stop loss at 295 levels.
Support - 298/295/291 Resistance - 305/308/313
RELIANCE Closely watch 730-740 are key support As long as
hold... target...? Key level of this week 747
Option Traders can also buy 760 call And hold till result...
(20th April)
SBI Before the credit policy looks strong and trend is
positive On a technical side... Today Crossover 2284 and stay with volume And
Repo Rate Cut - nonstop target - 2375-2475-2577 in few sessions Lower side -
2195-2172 are a strong support Key level of this week 2195 :For Risky Free
Strategy: Buy 2400 call at 24-25 Buy Put 2000 at 7
HEXAWARE Bullish break out with volume... Above 123 decent
move... And play for...?
ICICI BANK Above 880 - it will show real strength Below 850
- free fall...
LT TIME FOR consolidation... If Not break 1275 and positive
news... trade above 1314 Target 1350 thereafter - big fire work...
INFOSYS Sell on rise strategy... Below 2360 - more downside
Up to 2270-2200...
DENA Bank: (101) Buy considering 99 a solid support keeping
stop loss of 96. Upward side crossover above 102 it'll spurt up to 106 &
108.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
820
|
768
|
855
|
900
|
|
S.SELL BELOW
|
765
|
775
|
730
|
640
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
302
|
296
|
305
|
311
|
|
S.SELL BELOW
|
294
|
298
|
292
|
284
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
265
|
257
|
271
|
280
|
|
S.SELL BELOW
|
255
|
260
|
249
|
237
|
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