02 May 2012
SENSEX (Close - 17318.80) Sensex
closed on higher note in the last trading session. There are few levels which
must be watched on higher side. Although it is not looking that strong but
Sensex may try to move closer to 17410 levels. We will have trading support at
17200 levels. I must repeat that this might be another dull and choppy day on
higher side. Trading moves are coming only on fall. Technical charts are
suggesting for stiff resistance at higher resistances but there is nothing
which can suggest about good trading move. Be stock specific at right time.
Reduce your number of trades.
Support - 17220/17110/17000 Resistance
- 17370/17410/17530
NIFTY (Close - 5248.15) Nifty has
closed at 5248 which is 50% (from 5342 to 5155) retrechment levels from 5155.
Well, it was expected but we are still shy from technical levels of 5171, which
in my view should have been tested. Nifty may try to take another attempt to
test those. Well, but Nifty is not showing any great strength. Be aware about
another choppy day.
Support - 5227/5200/5155 Resistance - 5262/5272/5299
AXIS BANK (Close - 1106.95) It is
a high beta banking stock and rebounded few days back from 1076 levels. Without
recovering much it has shown weakness. Technical charts are suggesting that we
will see some good trading support at 1098 but if it breaks 1098 then it can
drift lower towards 1076. Short if and only if it sustain below 1098. Alter. it
can rebound if above to save 1098.
Support - 1088/1076/1060 Resistance - 1116/1130/1138
TITAN (Close - 233.00) It has a
trading band of Rs 10 in the last trading session. Now we have seen some good
trading support in the zone of 230 to 228. I suggest to trade on long side with
stop loss at 230 for a move towards 240. Cross over of 240 will guide this
stock towards 246.
Support - 230/227/224 Resistance - 238/242/246
BHARTI TELE Technical looks
bearish and sell on rise Strategy... Consider resistance 318-320 Reversal to
sell side...
IDFC Short-term positive... As
long as hold 120, time to buy for small profit
PANTALLON Positive news by Aditya
Birla Group Now above 192 face resistance 200
TITAN Bad result more punish in
this stock Consider resistance 240 Lower level target 200 DMA - 212 short-term
M&M: (710) Buy considering
702 a solid support keeping stop loss of 698. Upward side it'll spurt up to 732
& thereafter to 739 & 750. Downward side break below 698 it'll turn
weak & fall down to 691, 684 & 672.
SBI: (2138) Buy considering
2115-2105 a crucial support keeping stop loss of 2090. Upward side it'll surge
up to 2197 & 2213.
Downward side break below 2090
it'll turn weak & fall down to 2057.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
245
|
240
|
250
|
257
|
|
S.SELL BELOW
|
238
|
243
|
234
|
227
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
189
|
182.3
|
194
|
200
|
|
S.SELL BELOW
|
181.5
|
183.5
|
176.5
|
165
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
634
|
625
|
640
|
651
|
|
S.SELL BELOW
|
622
|
629
|
618
|
605
|
