16 April 2012
SENSEX (Close - 17094.50) Sensex suddenly seen a dip after
initial rise. At one time it was discounting Infosys result but unable to hold
the fear of global concern. Trendline suggest that we can expect levels near
16850 levels. On higher side we will see stiff resistance at higher levels near
17200 to 17260 levels. Any break below 17850 will surely guide us further
lower. We have seen some remarkable dip in metal, banking and technology
stocks. I have already said that that market will give a litmus test in this Q
- 4 earning after massive buying by FIIs. It was just figure and market has
turned violent. Stay extremely cautious in coming days.
Support - 17000/16902/16845 Resistance - 17280/17290/17480
NIFTY (Close - 5207.45) Nifty had a high at 5306.75 on
Friday before fall. I have already quoted for a rise towards 5307 and it hit as
a dot. Now question is what is next? Well, as 5193-5190 has broken for few
seconds then also it may count. Break below 5185 will give us 5135 and then
5080. I still hold my shorts.
Support - 5185/5135/5080 Resistance - 5252/5274/5307
TATASTEEL (Close - 449.80) Metal stocks are again on
concerning note. Technicals are suggesting that we may see the levels of 425 on
this stock very soon. It may take 4-5 trading sessions more. For today, it is
short with stop loss 455 levels for target of 435.
Support - 442/435/425 Resistance
- 454/458/464
SBIN (Close - 2212.30) One day it has moved on repo rate cut
hope and then slipped remarkablly on very next day. Its hard time to
understand. Technicals are suggesting that we may see a dip of rs 40-50 now. We
can trade on short side with stop loss above 2240 for the target of 2170 to
2150.
Support - 2188/2156/2132 Resistance - 2235/2258/2286
RELCAPITAL (Close - 350.05) High beta can never be the
gurantee of rise. Whenever I critizes this stock, I felt that investors were
not liking those. Many have recommended you buy this stock from 800+ levels.
Whats the result till now? Technicals are again suggesting for fall towards 320
levels very soon. Trade on short side with stop loss at 357.Support -
342/335/320 Resistance -
356/362/368
ICICI BANK Now, we may consider resistance 880-900 range Unable
to surpass this range and any bad news of Banking sector, will drift down
towards 800 and below. Key level of this week 872
DENA Bank: (96.50) Buy considering 94 & 91.50 solid
supports keeping stop loss of 87. Upward side it'll spurt up to 108 & 115.
TATA MOTORS: (289) Buy on declines considering 281 & 279
solid supports keeping stop loss of 273. Upward side it'll spurt up to 300
& 311. Downward side a close below 273 it'll turn weak & fall down to
261, 253 & 241.
HUL: (424) Buy considering 418.50 & 412 solid supports
keeping stop loss of 400. Upward side it'll spurt up to 444.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
212
|
209
|
216
|
222
|
|
S.SELL BELOW
|
207
|
211
|
204
|
199
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
329
|
324
|
334
|
341
|
|
S.SELL BELOW
|
322
|
326
|
318
|
309
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
745
|
731
|
758
|
777
|
|
S.SELL BELOW
|
729
|
735
|
716
|
690
|
