10 February 2012
SENSEX (Close - 17830.80) Sensex closed on another land mark of 17830. Greece deal has done? The moment deal done we have seen cool off all across the world as this endless drama has added more twist after deal. Are they really want to save Greece? Well, back to home, Tata Steel comes out with most horrible set of numbers. We have to wait for December month IIP figure today which is expected to be at 3.20%. Technically 17909 will remains a tough figure to cross even after all optimism. I am expecting selling to begin from today second half. If not, then give up the hope of correction even from this levels. One must note that rally has extended to 2700 points. As long as strong hand money flow continues, nothing can be expected great from technical analysis.
Support - 17760/17580/17499 Resistance - 17832/17909/18080
NIFTY (Close - 5412.35) Nifty has hit a high of 5423.40, little overshoot over my give resistance of 5420. Its surprise for me. Anything above 5435 will result some massive gain in index. If there is no signs of cool off after 900 points of rally then its hard to conclude. Technical support will be just at 5318.
Support - 5318/5295/5260 Resistance - 5399/5414/5420
TATASTEEL (Close - 452.15) This stock has seen a rally from 331 to 481 and the result came so horrible. It is itself a question market on the rally. I am already recommending short below 460. Even for today, call remains same. Short with stop loss of 460. Expect 420 to 400 levels in near future.
Support - 441/428/418 Resistance - 460/468/481
LT (Close - 1355.25) I tried shorting yesterday and earned small loss. Stock is still weak even after all rally in the index. I still believe that we may expect lower levels. It will have stiff resistance at 1375 and then at 1400 levels. Short with stop loss of 1375. Target should be near to 1300 only.
Support - 1348/1332/1308 Resistance - 1382/1399/1420
RELIANCE (Close - 853.85) It has buy back price at 870. After all set of poor numbers, stock went up near to 870. We must have 865 to 870 as most critical levels on higher side. Short from higher levels above 860 and keep stop loss at 870. Very soon, it must land on the ground.
Support - 842/828/812 Resistance - 860/866/870
M&M Time to Break out... Just closely eye and take position Once trade above...
DLF Today closely eye trading range of 230-236 Once breakout or breakdown One-side move.
JP ASSOCIATE Strong resistance 80-81 Crossover with volume Non-stop target 89-100 mark.
FINTECH: (812) Buy on declines keeping stop loss of 797. Upward side it'll spurt up 832 & 857.
DENA Bank: (85.35) Buy considering 83.25 a solid support keeping stop loss of 80. Upward side it'll spurt up to 87.50, 90.50 & 95.50.
VIJAYA Bank: (60.50) Buy keeping stop loss of 59. Upward side it'll spurt up to 64 & thereafter to 66.25 & 71.
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 817 | 800 | 831 | 852 |
| S.SELL BELOW | 798 | 806 | 785 | 755 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 234 | 228 | 239 | 246 |
| S.SELL BELOW | 227 | 230 | 223 | 215 |
| Action | Trigger Price | Stop Loss | Target-1 | Target-2 |
| BUY ABOVE | 427 | 419 | 431 | 439 |
| S.SELL BELOW | 418 | 422 | 415 | 405 |
