29.05.2012.
SENSEX (Close - 16416.80) Sensex
moved above 16378 and closed on better note. Majority of rise came in last 30
minutes of trades, which is indicating that rise was dominated by short
covering. If Sensex able to stay positive today then one can expect levels of
16520 and then a move towards 16670. It is not going to be so simple today. As
long as it stay above 16378 we cannot short this market. Market will again try
to take global cues which is not as strong as when we closed yesterday. I am
already advising caution at higher levels but on chart it is still looking for
more rise.
Support - 16370/16290/16190 Resistance - 16530/16670/16725
NIFTY (Close - 4985.65) Nifty
came almost at 4998 which I have stated yesterday. A cross came above 4956 then
even after choppy day it came towards technical target. Market is running short
of steam now so we may not advance further. Technical charts are saying that it
is not going to cross 5040.
Support - 4856/4830/4889 Resistance -
4998/5018/5040
LT (Close - 1204.60) If this
stock manage to sustain above 1212 then we can expect for amove towards 1240
levels. I suggest to trade on long side above 1212 with stop loss at 1202.We
can expect weakness only below 1184 levels. Cross over of 1240 will push higher
towards 1256.
Support - 1194/1184/1170 Resistance -
1212/1228/1240
TATAMOTORS (Close - 276.60) It
has a gap down from 290 to 277 on 16 May 2012. After consolidating lower it is
coming near to those gap down. Will it fill the gap? Charts are suggesting to
trade on long side if it manage to sustain above 278. Place stop loss at 276
after excution of trade. Expected target is 284.
Support - 273/270/267
Resistance - 278/282/285
SBIN (Close - 2101.30) It has
moved by 200 rupees in past four trading sessions. Well, still we can sense
that this the only blue chip stocks which has given better sign of strength.
Now one has to be cautious and think to buy only it magae to sustain above 2116
levels.
Support - 2078/2040/2005 Resistance -
2116/2145/2180
BHEL After a long time
consolidation... Ready to move... Major short-covering on the card As long as
hold 210 looks good
AXIS Bank: (1027) Buy considering
1018 a solid support keeping stop loss of 1005. Upward side it'll spurt up to
1046 & 1080.
DHANLAXMI Bank: (56) Buy considering 54.75 & 54 solid
supports keeping stop loss of 53. Upward side it'll spurt up to 58.50 & 61.
IDBI: (89) Buy considering 88.50
a solid support keeping stop loss of 87.50. Upward side it'll spurt up to 92,
95.50 & 98.
ICICI Bank: (834) Buy considering
827 & 825 solid supports keeping stop loss of 818. Upward side it'll spurt
up to 845 & 855.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
630
|
605
|
655
|
685
|
|
S.SELL BELOW
|
602
|
610
|
578
|
530
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
173
|
170.5
|
174.5
|
177.5
|
|
S.SELL BELOW
|
170
|
171.5
|
168.8
|
164.8
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
918
|
906
|
923
|
933
|
|
S.SELL BELOW
|
903
|
912
|
900
|
885
|
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