24 April 2012
SENSEX (Close - 17096.70) Sensex
again came closer to 17000 marks. I heard many times that as Sensex is saving
200 days moving average in every fall so market will remains bullish. I must
say that my view is excatly reverse. I always believe that frequent test of 200
days moving avarege is a sign of weakness. Sooner or later, we will see Sensex
cracking below 16500 marks in coming days. One should not be impulsive which
trying to analyse market direction. Till it is just a ranging one in the zone
of 17000 to 17500. If it start spending time below 16920 then we will the
biasing downward and trend down for short term. Market will again weak after
some initial weakness.
Support - 17035/16920/16780 Resistance -
17170/17280/17360
NIFTY (Close - 5200.60) Nifty has
saved 5183.50 and closed at 5200. I have expressed those fear yesterday only.
For today we may see moderately flat opening and we may see some initial
pullback but those may not sustain. Finally, once again keep an eye on 5183.50.
Support -
5183/5150/5135 Resistance
- 5232/5274/5307
LT (Close - 1253.80) I have
quoted for strong technical support at 1274 levels which has broken finally
yesterday. Technicals are suggesting that we may expect the levels of 1210 to
1200 levels. I am suggesting to trade short on any intraday rise in the zone of
1265 to 1272 with stop loss above 1280.
Support - 1240/1218/1200 Resistance -
1265/1274/1288
BHARTI AIR
TEL Finally broken major support and Closed below 2012 low – 320 Time to
Sell... Ultimate target 260 expected
LIC HOUSING
Some problem in result... As long as below 260-265 range Downside 250 -
thereafter heading towards 236 target
JP ASSOCIATES
Decisively break...?... with volume Downside target 67... Your stop loss...?
INFOSYS
Weakness to continue... Major support broken 2360...
ICICI Bank: (844) Sell
considering 851 & 858 solid resistances keeping stop loss of 868. Downward
side break below 834 it'll fall down to 814.
AXIS Bank: (1135) Sell
considering 1153 & 1165-1169 solid resistances keeping stop loss of 1188.
Downward side it'll fall down to 1115, 1101 & 1081.
BF UTILITY: (408) Sell
considering 414 & 432 solid resistances keeping stop loss of 446. Downward
side it'll fall down to 393 & 380.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
3480
|
3414
|
3525
|
3585
|
|
S.SELL BELOW
|
3400
|
3435
|
3370
|
3260
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
3580
|
3518
|
3624
|
3685
|
|
S.SELL BELOW
|
3505
|
3540
|
3475
|
3370
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
312
|
294
|
324
|
343
|
|
S.SELL BELOW
|
291
|
297
|
278
|
250
|
