13 March 2012
SENSEX (Close - 17587.67) Sensex has tested levels higher
than 17735 in opening minutes. It is still well above 17525 levels. As long as
it is staying above 17460 levels we cannot expect any immediate threat. We have
seen much better than expected IIP Data for January month, which was at 6.80%
vs expected 2.10%. Market has not enjoyed 75 bps CRR cut. We can conclude that
we may see range bound trading till budget. I must add that its Reliance which
has saved market yesterday from drifting to negative. I am expecting choppy
trading session for today also but biasing may be negative. On higher side
resistance will be at 17735 to 17800 levels.Support - 17460/17280/17100 Resistance
- 17610/17730/17800
NIFTY (Close - 5359.55) Nifty has closed above 5350 levels.
As long as it sustain above those levels we can expect 5400 levels to be
tested. While on failure below 5350 will cause a fall towards 5300 levels.
Nifty may remains in this trading range for today.
Support - 5338/5300/5280 Resistance
- 5380/5400/5422
ONGC (Close - 277.65) This stock has dot support at 275. It
has bounced from those levels multiple times. Either this stock should try to
move higher before 275 or break below those levels. Trades will be remarkable
if it breaks lowerbelow 275. Act accordingly.
Support - 275/272/268 Resistance - 280/282/285
ANDHRA BANK (Close - 135.75) We got a bulls gap opening
yesterday and then this stock kept on trading higher with some choppy trade.
For today's trade also this is a buy with stop loss below 133, prefer to buy in
some intraday dip. On higher side it can hit 140-142 levels too.
Support - 133/131/129 Resistance - 138/140/142
RELIANCE Strong bounce back... Now closely eye 790-793... as
hold this level Will move up to 810, thereafter more upside
SBI Trading buy with stop loss 2394 If no break up-move to
continue... Once break and stay, intra day weakness.
ICICI BANK Trend is positive... Resistance 941-948... unable
to cross This zone... downside target 928-920
DLF Strong support 200-201... Resistance 210 to watch out
INFOSYS + TCS Time to sell side... With tight stop loss But
follow level only...
MARUTI: (1338) Buy considering 1327 & 1320 solid
supports keeping stop loss of 1313. Upward side crossover above 1360 it'll
shoot up to 1412.
DENA Bank: (93.70) Buy considering 93 & 91.50 solid
supports keeping stop loss of 89. Upward side it'll spurt up to 98.75 &
104.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
435
|
421
|
448
|
464
|
|
S.SELL BELOW
|
420
|
425
|
408
|
380
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
330
|
322
|
335
|
342
|
|
S.SELL BELOW
|
320
|
325
|
317
|
305
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
557
|
544
|
567
|
582
|
|
S.SELL BELOW
|
541
|
548
|
533
|
510
|
