4 April 2011
SENSEX (Close - 17597.40) Sensex has a target near 17700 but
it has slipped much earlier. Closing at 17600 is somewhat moderate close. We
may feel that it is rising but this is loosing momentum today. Technical charts
are suggesting for resistance at 17700. Its also true that cross over of 17700
will give us a rise towards 17870 levels. You can consider 17480 as a strong
support for today's trade. In current on going rise, one should avoid banking
and reality stocks. We are headed for long weekend and so we may see some
nervousness in the later part of the day. Q-4 is the next trigger but charts
are suggesting that we may not extend gains too much. It wil be deciding next
week.
Support - 17480-17360/17200 Resistance - 17700/17790/17870
NIFTY (Close - 5358.50) Nifty has just failed to cross 5380,
which was mentioned yesterday. Now 5380-5386 is a levels for truncation for
Nifty. If it reverses from here then surely we are going to see some concerning
fall. I do not know about global indices but Nifty can cause stress.
Support - 5530/5500/5480 Resistance - 5580/5610/5640
RELIANCE (Close - 752.70) Current rise is just midguiding
for traders. It has sustained above 750 and moved to hit 763. We have seen
fresh fall in concluding hours. Technicals are still suggesting for a fall. I
am repeating short trade again if it sustain below 750.
Support - 750/739/732 Resistance
- 763/772/784
MARUTI (Close - 1309.55) I tried this stck yesterday also
but booked very early. Technicals are still suggesting for a move towards 1282.
I suggest to trade short on any intraday rise near 1315 to 1320 and keep stop
loss above 1328. Expect levels near 1282.
Support - 1300/1290/1280 Resistance - 1317/1330/1342
TCS (Close - 1178.00) We are moving towards Q 4 and there are
many technology stocks which can show nervousness. Technicals are suggesting
for a move towards 1150 to 1140 levels. I suggest to trade on short side with
stop loss above 1190 levels. Think to buy only if it move above 1210 and
sustain.
Support - 1168/1154/1140 Resistance
- 1191/1200/1210
JP ASSOCIATES As mentioned yesterday above 84 do not play
short And it was made a high 89.50... Just go through chart... Above 89.50
sustained with volume More up-side...ultimate test 100 mark
SBI Above 2160 bull favour... If manage to hold... Below
selling opportunity
BHEL Above 255-258 looks good Likely to test 275 mark
TATA MOTORS: (280) Buy considering 278 a crucial support
keeping stop loss of 275. Upward side it'll rush up to 287 initially. Crossover
above 287 it'll shoot up to 294 & 300. Downward side break below 275 it'll
fall down to 265.
SINTEX: (88.50) Crossover above 90.25 it'll spurt up to 97
& 101. Downward side 87-86.50 a solid support, keep stop loss of 84.50 to
your buys.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
168
|
163.5
|
175.5
|
184.5
|
|
S.SELL BELOW
|
163
|
165
|
156
|
144
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
344
|
338
|
347
|
352
|
|
S.SELL BELOW
|
337
|
341
|
334
|
326
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
322
|
315
|
328
|
335
|
|
S.SELL BELOW
|
313
|
317
|
309
|
297
|
