FUTURE PAISE: Today Market Technical Research Reports

Wednesday, April 4, 2012

Today Market Technical Research Reports

4 April 2011

SENSEX (Close - 17597.40) Sensex has a target near 17700 but it has slipped much earlier. Closing at 17600 is somewhat moderate close. We may feel that it is rising but this is loosing momentum today. Technical charts are suggesting for resistance at 17700. Its also true that cross over of 17700 will give us a rise towards 17870 levels. You can consider 17480 as a strong support for today's trade. In current on going rise, one should avoid banking and reality stocks. We are headed for long weekend and so we may see some nervousness in the later part of the day. Q-4 is the next trigger but charts are suggesting that we may not extend gains too much. It wil be deciding next week.

Support - 17480-17360/17200 Resistance - 17700/17790/17870

NIFTY (Close - 5358.50) Nifty has just failed to cross 5380, which was mentioned yesterday. Now 5380-5386 is a levels for truncation for Nifty. If it reverses from here then surely we are going to see some concerning fall. I do not know about global indices but Nifty can cause stress.

Support - 5530/5500/5480 Resistance - 5580/5610/5640

RELIANCE (Close - 752.70) Current rise is just midguiding for traders. It has sustained above 750 and moved to hit 763. We have seen fresh fall in concluding hours. Technicals are still suggesting for a fall. I am repeating short trade again if it sustain below 750.

Support - 750/739/732 Resistance - 763/772/784

MARUTI (Close - 1309.55) I tried this stck yesterday also but booked very early. Technicals are still suggesting for a move towards 1282. I suggest to trade short on any intraday rise near 1315 to 1320 and keep stop loss above 1328. Expect levels near 1282.

Support - 1300/1290/1280 Resistance - 1317/1330/1342

TCS (Close - 1178.00) We are moving towards Q 4 and there are many technology stocks which can show nervousness. Technicals are suggesting for a move towards 1150 to 1140 levels. I suggest to trade on short side with stop loss above 1190 levels. Think to buy only if it move above 1210 and sustain.

Support - 1168/1154/1140 Resistance - 1191/1200/1210

JP ASSOCIATES As mentioned yesterday above 84 do not play short And it was made a high 89.50... Just go through chart... Above 89.50 sustained with volume More up-side...ultimate test 100 mark

SBI Above 2160 bull favour... If manage to hold... Below selling opportunity

BHEL Above 255-258 looks good Likely to test 275 mark

TATA MOTORS: (280) Buy considering 278 a crucial support keeping stop loss of 275. Upward side it'll rush up to 287 initially. Crossover above 287 it'll shoot up to 294 & 300. Downward side break below 275 it'll fall down to 265.

SINTEX: (88.50) Crossover above 90.25 it'll spurt up to 97 & 101. Downward side 87-86.50 a solid support, keep stop loss of 84.50 to your buys.

PANTALOONR ( Pantaloon Retail (I) Ltd )