24 January 2011
SENSEX (Close - 16751.73) Sensex closed with small gain
yesterday. We have RBI credit policy review today and market is expecting CRR
cut. I will look for the language of RBI governor as I am not expecting
monetary softening now but I can expect this to come later this year. Yesterday
RBI economic outlook is showing that RBI is still concerned about inflation.
They have lower their growth projections. Technicals suggest that we will have
strong support at 16520 levels. On higher side 16800 is a stiff resistance.
Cross over of 16800 should result a rapid rise towards 16900 - 17000 levels. I
am advising caution for today and tomorrow for trading positions. I am already
trying to be on side line for trades. Shall we talk about greece crisis? It seems
that its just a waste of time. Take the cues when it comes, do not consider
those fear for trades.
Support - 16650/16520/16400 Resistance
- 16800/16920/17050
NIFTY (Close - 5046.25) Nifty has a high point at 5064 as of
now. Technicals are suggesting for stiff resistance at 5076 < 5100 levels.
In the lower side, we cannot expect anything remarkable on short side unless it
slips below 4990. So far so good for long.
Support - 4990/4949/4920 Resistance - 5074/5100/5151
HEROMOTOCO (Close - 1875.15) This stock has stiff resistance
at 1935 levels. Technicals are suggesting that this stock may try to move
towards 1800 levels. I am suggesting to trade on short side on any intraday
rise near 1885 with stop loss above 1900. Expect a fall of Rs 40-50.
Support - 1850/1825/1800 Resistance - 1890/1910/1935
LT (Close - 1277.30) There are some stocks which are just
trading near to their crucial resistance. It is one of those. It has stiff
technicals resistance at 1300. I suggest to trade short on any rise above 1285
with stop loss at 1300. If it slips then it can hit 1240-1230.
Support - 1260/1240/1218 Resistance - 1286/1300/1321
SBIN (Close - 1940.50) We have RBI credit policy review
today. It has technical resistance at 1970 levels. Market may see some profit
taking. I suggest to trade on short side on higher side near 1950-1955 with
stop loss above 1970. You can expect levels of 1880.
Support - 1915/1900/1880 Resistance - 1955/1970/2000
BHARTI TELE Finally closed above 450 level... Looks
short-term trend positive... Cross and close above...? ... it will test 400.
MARUTI LTD As mentioned earlier... above 1020 very hot
Yesterday... profit dropped but stock news...So always remember Chart have
worked...Now resistance at 1185-1190 Above another round of move.
IDEA Looks hot... Downside strong support at 85 Crossover
90-91 range... decent move on the card
ICICI Bank: (858) Buy considering 842 a crucial support
keeping stop loss of 838. Upward side it'll spurt up further to 891-895 &
914.
Downward side break below 838 it'll turn weak & fall
down to 817, 804 & 783.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
220
|
217
|
222
|
226
|
|
S.SELL BELOW
|
216
|
218
|
214
|
210
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
284
|
280
|
286
|
290
|
|
S.SELL BELOW
|
279
|
282
|
277
|
270
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
353
|
348
|
357
|
363
|
|
S.SELL BELOW
|
347
|
351
|
344
|
335
|
