23 April 2012
SENSEX (Close - 17373.80)
Sensex had a panic dip at 17230
levels and finally closed near to 17380. It has proven that Sensex is not
running comfortable above 17500 marks with a dot resistance at 17530. Crossover
of 17530 will give us 17670 levels. Well, but in lower side if it sustain in
negative then it will show weakness. We are on derivative expiry week and it
will be highly active week ongoing. We are not getting any great boost from
quarterly numbers and market is tryging to take its own shape. I like to
mention that 200 day'smoving average is far at 17045 levels now. We seems to be
in the mid way of ranges but strength is not expected now. Although if by any
chance Sensex travel and cross above 17530 then I will be forced to trade long.
Support - 17240/17150/17045 Resistance - 17460/17530/17660
NIFTY (Close - 5290.85) Nifty has
not able to surpass 5342 resistance yet and closed little far from those. I
have already forecasted those resistance well in advance when we have seen
recovery from 5183.50 levels. Those stiff resistance will be valid and Nifty
may try to test 5243 and then try to move towards 5200.
Support - 5270/5243/5183 Resistance
- 5317/5342/5359
TATAMOTORS (Close - 316.65) Wave
patternes are indicating for stiff resistance at 321 levels. Suppose if it
advances towards 319-320 levels then one can try to trade on short side with
stop loss above 321 levels and expect a downside towards 310-308. Crossover of
321 may give us 325.
Support - 312/308/304 Resistance
- 321/325/332
SBIN (Close - 2260.45) Technicals
are suggesting that we may see a dip of rs 40-50 now. We can trade on short
side with stop loss above 2288 for the target of 2170 to 2150. Use some
intraday rise to short this stpck. PSU banks may not have good days ahead.
Support - 2240/2212/2188 Resistance
- 2288/2306/2332
RELIANCE As expected, resulted
below expectation.... Now close watch support 723 decisively break Non-stop
target 700-690 and below Sell... Sell... Sell...
TISCO Time to buy on decline... Consider
support 450-460 Whereas the buying opportunity...
M&M: (726) 733 a crucial
resistance to watch out for closing above which it'll spurt up to 748 &
771. Downward side 705 & 700 solid supports, keep stop loss of 692 to your
buys.
HDFC Bank: (551) Buy considering
546 & 540 solid supports keeping stop loss of 537. Upward side it'll spurt
up to 570 & 578.
ICICI Bank: (860) A close below
851 it'll fall down to 834 & 814. Upward side 867 & 879 solid
resistances to watch out for.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
336
|
331
|
340
|
345
|
|
S.SELL BELOW
|
330
|
333
|
328
|
323
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
306
|
302
|
310
|
316
|
|
S.SELL BELOW
|
300
|
304
|
298
|
292
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
226
|
221
|
230
|
235
|
|
S.SELL BELOW
|
219
|
222
|
215
|
212
|
