14 May 2012
SENSEX (Close - 16293.00) Sensex
closed in red even on Friday after refusing to accept afternoon recovery. We
got another set of disappointing IIP at negative 3.50%. I am a technician but a
simple question is coming in my mid also. Is India really a growing economy? We
are definety not growing on expected potential. Please do not compare India
from Europe. I am comparing present India with past India. Something is not
right and now has time to think. I am still retaining my view. Sooner or later
it has to test or break 16000 marks. Resistance will be at 16428 levels. One
should take trading direction as it comes. We must see something coming big for
PSU banks.
Support - 16200/16110/16000 Resistance
- 16428/16520/16650
NIFTY (Close - 4928.90) Nifty hit
a low at 4906 and bounced but those bounce has also not sustained at higher
levels. We had some meaningful intraday support at 4904. Technical charts are
still weak and suggesting for the test of 4880 and then at 4850. I am expecting
trading resistance at 4986 levels.
Support - 4904/4880/4850 Resistance
- 4960/4986/5012
ACC (Close - 1165.95) This stock
has broken crucial support at 1186 and closed much below those levels.
Technical charts are suggesting to trade short on rise near 1174 for more dip.
One can keep stop loss above 1186. Technical target will be at 1130 levels.
Support - 1155/1142/1130 Resistance
- 1174/1186/1200
SBIN (Close - 1853.60) It has
seen pullback and I have traded on long side on last trading day but short
direction is still down. As long as this stock is sustaining below 1885, we can
expect the test of 1800 levels. As of now it is still a short trade on rise
with stop loss above 1885. Note that I am saying to sell on rise.
Support - 1835/1816/1800 Resistance
- 1867/1876/1885
INFOSYS (Close - 2311.30) At one
time it was looking that it can able to sustain above 2400 but it has lost its
way. It is critically threatening for fall below 2290 now. For today's trade if
it kept on trading in negative then one can short for first target at 2290 and
then it may see free fall towards 2250.
Support - 2390/2275/2250 Resistance
- 2328/2343/2360
BGL ENERGY Broken major support
level, weekly - monthly level also... Trend is down...
BATA LTD Very strong on Chart...
But time to book profit Lion Heart traders can also sell with tight stop-loss
For target... 775
LT Today it will come out the
nos... Think positive bias if trade above 1155 Otherwise - problem in result
TISCO Below 425-430 time to bear
favour For target...?
MARUTI: (1234) Sell considering
1265 & 1278-1287 solid resistances keeping stop loss of 1306. Downward side
a close below 1214 it'll crash down to 1164 & 1130.
M&M: (656) Sell considering
666 a solid resistance keeping stop loss of 677. Downward side a close below
642 it'll crash down to 621, 608 & 586.
ICICI Bank: (813) Sell
considering 826 a solid resistance keeping stop loss of 837. Downward side a
close below 803 it'll heavily fall down to 782, 770 & 750.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
178
|
176
|
181
|
185
|
|
S.SELL BELOW
|
175.5
|
177.5
|
173.5
|
169
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
299
|
295
|
303
|
309
|
|
S.SELL BELOW
|
294
|
298
|
290
|
284
|
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