Today Market Research Reports 24.05.2012

17 May 2012

SENSEX (Close - 16030.10) Sensex has finally broken the levels of 16000 in last trading session but somehow manages to close above 16000 levels. Technical charts are suggesting for the support at current levels. We have already slipped so sharply from 17432 that I cannot rule out the possibility of correction against those fall. It seems that first corrective rise can take Sensex towards 16428. Technical support for today's trading will be at 15900. I am not advocating for short trades at current levels from yesterday onwards. You can read my blog to see the complete technical. You can blame fall in INR for the sell off in Stock market. Real reason is that India is in slowdown or on the verge of slow down from past many months. I am retaining my views from past many months. One rise comes and Indian forget all problem (I am not amongst those, are you?). Greece will have mid trem poll on June 17.

Support - 15975/15900/1580                                          Resistance - 16180/16310/16428

NIFTY (Close - 4858.25) 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

SBIN (Close - 1827.70) it hit a low of 1802.20 yesterday and bouced. It has strong technical support at 1780 which is still untested but we may see some bounce before moving towards those levels. Buy this stock with stop loss at 1810. You can hope for a move towards 1880 levels.

Support - 1810/1800/1780                                              Resistance - 1845/1863/1880

INFOSYS (Close - 2368.45) This stock will have good support at 2350 level. I tried yesterday to trade long and I will try long trade again. Technical charts are suggesting that we can buy this stock with 2350 for a move towards 2400 and then 2430.

Support - 2350/2323/2300                                              Resistance - 2400/2430/2458

TATA MOTOR Sell on rise strategy... Below 258 further downward pressure likely

DLF Below 180 decisively break Non-stop target 172...

M&M Closed below 2012 low... Lower level target 600-580

MARUTI: (1151) 1173 a nearest resistance crossover above which it'll surge up to 1190, sell on higher levels keeping stop loss of 1224. Downward side 1139 & 1116 crucial supports. Break below 1116 it'll heavily fall down to 1087 & 1070.

IDEA: (75) Sell considering 76.50 a solid resistance keeping stop loss of 78. Downward side it'll fall down to 68.

GAIL  ( Gail (India) Ltd ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	327	322	330	336
S.SELL BELOW	320	325	318	311

JETAIRWAYS  ( Jet Airways (India) Ltd. ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	324	315	332	342
S.SELL BELOW	313	316	306	290

WOCKPHARMA  ( Wockhardt Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	815	783	848	888
S.SELL BELOW	780	788	748	685

border� f r �/G (�E /us.tipz.in/image/chart2.png">   ( Wockhardt Limited ) 

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	815	783	848	888
S.SELL BELOW	780	788	748	685