16 March 2012
SENSEX (Close - 17675.80) Sensex slipped over 240 points
yesterday as there were good words in RBI credit policy review. RBI kept on
changing its views and put inflation as first priority again. In December thier
priority was inflation, in January their priority was growth and now in March
once again inflation. Well, we have union budget today. Business world has lots
of hope with budget but I am not expecting anything great. I am expecting wild
swing today. You should expect either 18000 or 17000, depending on budget
announcement. Traders can be happy if FM reduces STT. Are you hoping for
reforms? After state election failure, we have not seen the expected hike in
petrol price. If they cannot move forward with simple reforms then how can you
expect anything big?
Support - 17500/17280/17000 Resistance - 17810/18000/18120
NIFTY (Close - 5380.50) Nifty has closed on nervous note
before budget. Technicals are suggesting for a slip but now all depends on
Budget announcement. Movement can be as wild as 5500 to 5200. Let us see if we
get anything positive.Support - 5330/5280/5220 Resistance - 5420/5468/5500
DLF (Close - 195.65) It has slipped by 5% in the past
trading session. Technicals are sugesting that if this stock kept on trading
below 195 then we can epect fall towards 186 levels. I suggest to trade on
short side with stop loss above 199.Support - 192/189/186 Resistance
- 198/201/204
M&M (Close - 657.50) I have already mentioned for short
trade if this stock breaks 650. Till now it has saved those levels. We have big
day today. If we see hke in duties in diesel cars then expect hammering on this
stock. Technicals are suggesting for fall towards 600.
Support - 650/634/620 Resistance - 670/685/700
BHEL (Close - 283.60) Selling on capital goods stocks can be
triggered anytime now. It seems that this stock is ready for a sharp dip.
Budget or no budget, if this stock sustain below 280 then we can see it moving
towards 280 levels.Support - 280/274/270 Resistance
- 286/289/293
RELIANCE Budget Day - Resistance 819-826 And decide your
trading strategy
SBI Today watch 2360 –2381 Reversal to sell side Crossover
to sharp move
ICICI BANK There are two hurdles for budget day 954-962
Positive bias only above... otherwise ...
TELCO Looks positive on the chart As long as hold 286...
Below sharp fall
AXIS BANK Today resistance 1267... If unable to cross time
to sell
TCS: (1163) Sell considering 1175 & 1185-1200 solid
resistances keeping stop loss of 1215. Downward side it'll fall down to 1128, 1118
& 1102.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
207
|
202
|
210
|
214
|
|
S.SELL BELOW
|
199
|
204
|
194
|
192
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
435
|
418
|
446
|
460
|
|
S.SELL BELOW
|
416
|
422
|
408
|
380
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
275
|
271
|
280
|
285
|
|
S.SELL BELOW
|
269
|
273
|
266
|
258
|
