22 March 2012
SENSEX (Close - 17601.71) Sensex rebounded strongly in the
past trading session and manages to close well above 17500 levels. Technicals
are suggesting that now we can expect a move towards 17750 to 17800 levels. We
should expect a soft start in first hour of trade and then it can try to move
higher towards 17800 levels. Well,17800 can act as stiff technical resistance.
Now we can expect trading support at 17500 levels only. Buying came in high
momentum stocks like Relinfra and LT. We have seen buying even in metal stocks.
I am not compulsive long trader but I will not shy to capitalize the
opportunity for long trade.
Support - 17500/17360/17200 Resistance - 17750/17800/17920
NIFTY (Close - 5364.95) Nifty has crossed above 5300 and it
has shifted the momentum again. This time it was in favour of bulls. Technicals
are suggesting that we can expect levels towards 5400 levels. Cross above 5400
will push it further. Support will be only at 5300 levels.
Support - 5328/5300/5280 Resistance - 5399/5428/5454
LT (Close - 1346.40) This stock has rebounded strongly from
support of 1276-1277 levels. I suggest to take long trade in dip near 1332
levels and keep stop loss at 1320 levels. On higher side we can expect levels
towards 1400 marks.Support - 1332/1320/1305 Resistance
- 1358/1374/1399
RELCAPITAL (Close - 417.85) When momentum favours bulls then
this stock always have tendency to out perform. I suggest to buy this stock in
initial dip near 413 and keep stop loss at 405. On higher side we can expect
levels towards 435 to 442.Support -412/405/400 Resistance
- 425/434/442
TATA STEEL (Close - 472.40) We have seen strength in metal
stocks. This stock has technical support at 445 which remains untested as low
was 448. For today's trade it is a buy with stoploss at 465 levels. On higher
side cross over of 476 will give us levels towards 490.
Support - 466/461/454 Resistance
- 476/482/489
ACC Last two days showing strength Closely eye 1420 - If
unable to cross And close above... Correction likely started... If so target
1320
SINTEX LTD Looks hot... Crossover...?... Decent move on the
card
PANTALOON RETAIL Trade and sustained above 162... Overall
buying in the market
ICICI BANK Near to strong resistance zone 950-960 Once
crossover and close above Ready for 4 digit mark
AXIS BANK Showing strength... But it must cross 1250 level
Thereafter it will show power Otherwise to sell... with tight stop-loss
ADANI ENT: (299) Buy considering 293 a solid support keeping
stop loss of 284. Upward side it'll spurt up to 310, 317 & 327.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
219
|
215
|
223
|
229
|
|
S.SELL BELOW
|
213
|
217
|
210
|
203
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
777
|
757
|
791
|
810
|
|
S.SELL BELOW
|
755
|
763
|
745
|
710
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
690
|
675
|
703
|
723
|
|
S.SELL BELOW
|
672
|
680
|
660
|
635
|
