27 March 2012
SENSEX (Close - 17052.78) Sensex reached their lowest
closing level in eight weeks on reports the adoption of the new tax norms viz.
the General Anti-Avoidance Rules (GAAR) which come into effect from 1 April
2012, could affect FII investments through the Mauritius tax haven and through
participatory notes (P-notes) route. The last best technical support will be
only at 17000 levels. I must add that banking stocks are also turning nervous
over bad loans issue which in turn can be the prime reason for slower growth of
economy. I am raising this point since the ending of year 2010 itself.
Technical suggest for fall if it breaks 17000 else a recovery. Let us
see.Support - 17000/16840/16699 Resistance - 17150/17360/17500
NIFTY (Close - 5184.25) Nifty has broken 5215 and hit 5175
but saved 5171 support levels. 200 days moving average will be at 5154 now. We
may see some gap up or flat opening as backed by global cues. Its a make or
break levels. Below 5171, it will see free fall. Its last hope.
Support - 5171/5154/5080 Resistance - 5220/5252/5299
JPASSOCIATE (Close - 81.90) Only few stock has moved ahead
in past trading session. Technicals suggest that we can expect levels towards
86 to 88 levels. One can trade with stop loss of 80 and hold. We may see better
performance of this stock for few days.
Support - 80/78/76 Resistance - 84/86/88
LT (Close - 1279.75) It is very near to breakdown. Well,
levelof 1274 may act as reversal point. For today's trade one should prefer to
buy with stop loss at 1273 levels. On higher levels you can expect levels above
1313 levels.Support - 1274/1254/1238 Resistance - 1298/1313/1329
RELIANCE Support broken... As long as below 750-758, selling
opportunity For target 700+ in coming days
Today resistance 746
AXIS BANK On weakness, it will take support 1100 Thereafter
more downside Resistance 1164, lower level target 1075
SBI Near to strong support 2130-2100 decisively break
Weakness persisting Resistance 2270
TISCO Below 440, real weakness to start in this counter
ICICI Bank: (872) Sell considering 887 & 896 solid
resistances keeping stop loss of 905. Downward side it'll fall down to 853-849
& 821.
MARUTI: (1299) Sell considering 1314 a crucial resistance
keeping stop loss of 1324. Downward side it'll fall down to 1271, 1259 &
1239.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
554
|
548
|
559
|
566
|
|
S.SELL BELOW
|
547
|
551
|
543
|
533
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
179
|
177
|
181.5
|
185.5
|
|
S.SELL BELOW
|
176.5
|
178
|
174
|
170
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
381
|
376
|
384
|
389
|
|
S.SELL BELOW
|
374
|
378
|
372
|
365
|
