18 May 2012
SENSEX (Close - 16070.50) Sensex
refused to maintain its relief rise and closed on marginal positive. Nightmare
comes true as all global market is slipping right now with more than 2%. Moody
downgrade 16 spanish banks, these are the same news flow which was rejected by
market in the month of January. Now sentiment is against market and reaction is
so violent. If Greece get defaulted then it will trigger a massive chain
reaction of default. Technical charts are suggesting for another steep fall towards
15700, majority of those will come as gap down. Sensex is falling from 17430
and preparing to hit 15700, a full 1700 points of fall in past 13 days. This is
now beginning of problem as market is not ready to take any support. Its the
time for global recession. Market will be waiting for quarterly result by SBIN
and TATASTEEL.
Support - 15800/15700/15500 Resistance
- 16110/16240/16380
NIFTY (Close - 4870.50) Nifty is
not only going to break 4830 but it seems that we will open even below 4800. I
am really shocked with this kind of fall. I was expecting recovery for 2-3 days
but it is not working. Below 4800 we will have support t 4766 and 4740. Prepare
for a massive and real massive fall in coming few weeks/months.Support -
4800/4766/4740 Resistance -
4900/4930/4986
LT (Close - 1163.50) I kept on
criticizing capital goods stocks in past few weeks. This stock has failed to
cross 1240 and kept on falling. For today's trading one can trade on short side
for a move towards 1110 levels. Gap down will spoil majority of technical fall.
Support - 1148/1130/1110 Resistance - 1178/1189/1206
BHEL (Close - 206.10) Trade short
on this stock for fall below 200. I have quoted for the target of 190 in short
term earlier. Those target will come without any recovery. We may expect trade
below 200 by today itself. If open only at 200 then ignore.Support -
200/295/190 Resistance -
209/212/215
AXISBANK (Close - 951.30) I have
quoted for a remarkable fall on May 2 but I was not expecting this to come so
rapidly. We are about to get 900 now. Technical charts are suggesting for trade
on short side with stop loss above 960.Support - 940/924/900 Resistance
- 960/972/984
JP ASSOCIATES Yesterday finally
broken support level 60 with volume And closed below indicate more down side in
coming days No long and bottom fishing... Lower level target 50+ If not cross
and close above...?
ICICI Bank: (820) Buy considering
814 & 809 solid supports keeping stop loss of 801. Upward side it'll spurt
up to 828, 837 & 857.
SBI: (1971) It'll surge up to
2002 initially where profit booking will be seen. Downward side 1951 & 1925
crucial supports. Break below 1925 it'll turn weak & fall down to 1893
& 1873. Upward side crossover above 2002 it'll sustain on higher levels
& surge up to 2031 & 2063.
TATA MOTORS: (267) Buy
considering 262 a solid support keeping SL of 257. Upward side it'll surge up
to 275.
BHUSANSTL LTP RS 442.30 BUY
BETWEEN RS 438-439 STOP LOSS RS 426 TARGET RS 467 (SPOT LEVELS) FOR 5-8 TRADING
SESSIONS
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
670
|
651
|
691
|
717
|
|
S.SELL BELOW
|
647
|
655
|
628
|
590
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
153
|
147
|
156.5
|
161.5
|
|
S.SELL BELOW
|
146.5
|
148.5
|
143
|
135
|
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