10 May 2012
SENSEX (Close - 16479.60) Senex
hit a low at 16423 and closed above its opening quotes. It was mentioned on
Monday that trading support at 16500 and 16428. As long it is saving 16400
levels you can expect some rebound. It is very clear that nothing has developed
yet to bet for strength. It will just be a reactionary rise after sharp fall.
If every person starts talking about fall then one has to be cautious from
short trading. Fall is still seems to be unavoidable but it may not be only a
one sided fall. It has to drift slowly towards 16050 to 16000 levels in short
term. One must keep an eye on global cues also as those can start dominating
anytime.
Support - 16423/16320/16210 Resistance
- 16580/16710/16800
NIFTY (Close - 4974.80) Nifty has
a technical support at 4951 which was saved yesterday. Break below 4986 has
pushed the support lower. It is still weak and may fall up to 4913 but a
reaction can expected after sharp fall. This reaction can extend up to 5060 to
5080 levels.
Support - 4951/4930/4913 Resistance - 4999/5021/5060
TATA MOTORS (Close - 292.85) We
are now moving towards support on this stock. One can use this stock to trade
on long side with stop loss at 289 for a move towards 298 to 300 levels. Even
if it breaks 289 then also we will not see any remarkable dip without rebound.
Support - 334/328/324 Resistance - 308/311/313
BHEL (Close - 216.10) It is
saving 213-209 levels on down side. It is giving me a sense that I must expect
recovery on this stock after such a sharp dip. I suggest to trade long for the
target of 224-226 and keep stop loss below 213.
Support - 213/219/208 Resistance - 220/224/229
SBIN (Close - 1883.10) It has a
low at 1876 for last trading session and Monday as well. It is a double bottom
pattern for three days of trade. If it saves 1876 then we can some rise. I
suggest to trade long for rebound with stop loss just below 1876 for a move
towards 1940-1950.
Support - 1876/1854/1818 Resistance - 1910/1942/1958
LIC HOUSING Big fall in coming
days... Close below 248 Do not hold long in your dream also
M&M: (655) Sell considering
664 a solid resistance keeping stop loss of 671. Downward side it'll fall down
to 633, 624 & 609. Upward side crossover above 671 it'll surge up to 685 in
a disguised manner.
MARUTI: (1302) Sell considering
1318 a solid resistance keeping stop loss of 1332. Downward side break below
1287 it'll fall down to 1262-1259 & 1247-1241.
ICICI Bank: (821) Sell
considering 828 & 840 solid resistances keeping stop loss of 854. Downward
side break below 810 it'll fall down to 792 & 781.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
241
|
235
|
244
|
249
|
|
S.SELL BELOW
|
234
|
238
|
232
|
225
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
515
|
507
|
523
|
534
|
|
S.SELL BELOW
|
505
|
510
|
500
|
485
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
274
|
269
|
277
|
282
|
|
S.SELL BELOW
|
268
|
271
|
265
|
258
|
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