2 April 2012
SENSEX (Close - 17404.20) Sensex finally able to close last
week on positive note after all fearful trades. Friday's rebound was expected
and came in line. Technical's are still suggesting for more gain. I believe
that we can see levels near 17650 or higher. There is a strong condition for
rise. Sensex must hold levels above 17300-17280 levels. If we slip below 17280
then we will again move towards painful trading zone. It is going to be stock
specific trades for today. Even on rise you must be very careful from frontline
technology and banking stocks. Market will take Q4 as next trigger. Do take one
note that Europe condition can start affecting our market anytime.
Support - 17279/17140/17000 Resistance - 17500/17640/17725
NIFTY (Close - 5295.55) Nifty has rebounded strongly and
closed just below 5300 levels. Shall I be bearish now? Well, there is no such
quick sign. We have good trading support at 5270 and 5240 levels. Cross over of
5317 will give us a rise towards 5357 to 5378 levels.
Support - 5270/5240/5200 Resistance
- 5317/5353/5380
M&M (Close - 700.20) After hitting a dot 650 marks few
days back, this stock kept on maintaining higher levels. Technical data suggest
that we may see some good rise if able to maintain above 707 levels. I
recommend a buy on it if it sustain above 707. Once it crosses then keep stop
loss just below 700.
Support - 694/686/679 Resistance - 707/717/732
RELIANCE (Close - 750.60) It has broken 750 and tested a low
of 718 levels and rebounded. It has closed on 750 as a dot. Now suppose if it
stand above 750 levels and sustain then we may see a move towards 760-764 once
gain. Still I am repeating that those gains might now sustain for long, you can
say a un-reliable rise.
Support - 742/730/718 Resistance - 759/767/772
IVRCL INFRA We are very bullish above 60 And our positional
call... Target 66-67.
TISCO Just check double bottom 440 and strong Strong
Resistance + Supply Zone 460-465
IDBI On-Rise to selling opportunity Below 108 do not think
to buy side... As per Fibonacci Projection Target 93 then 79
INFOSYS Sell on rise... If not cross...?...and close above
Lower level target 2700 –2651
SINTEX: (87) Just grab current futures considering 85-84
solid support keeping stop loss of 82. All set to shoot up to 101 & 106 in
hours only.
ICICI Bank: (887) Buy considering 880-877 & 869 solid
supports keeping stop loss of 863. Upward side it'll spurt up to 904 & 913.
AXIS Bank: (1146) Buy considering 1139 & 1124 solid
supports keeping stop loss of 1182 & 1208.
HAVELLS: (571) Buy considering 563-561 solid support keeping
stop loss of 550. Upward side it'll spurt up to 581, 590 & 605.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
185.5
|
181
|
187.5
|
191
|
|
S.SELL BELOW
|
180
|
183
|
178.5
|
173
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
158.5
|
155.9
|
160
|
163
|
|
S.SELL BELOW
|
155
|
157
|
154
|
150
|
