16 May 2011
SENSEX (Close - 16328.25) Sensex
retest Monday's low and rebounded immediately after gap down opening. It was
expected, atleast I have quoted about the same. We are nearly 200 points higher
from those levels. We are still not out of threat but meaningful support will
be at 16123 levels only. I still feel that we should expect recovery to
continue. We will have immediate target at 16428 and then at 16500 levels. In
between we may have some adverse global cues which can cause sudden reversal
against this recovery. We must be cautious and prepare ourself to trade in any
direction. As of now it is looking to see some more rise but no rise can
sustain for more than 2-3 days right now. One day of rise already done. If it
has to give one recovery then perhaps it has already done.
Support - 16240/16123/16000 Resistance
- 16428/16500/16620
NIFTY (Close - 4942.80) Nifty has
saved 4850 as low was just at 4868 as the result was a rebound. This rebound
has closed well above 4900 marks. If gap down comes but manages to save 4900
then also it may try to recover but we may experiance sluggish trades at higher
levels. Nifty has already bounced by 87 points from lows. Support -
4904/4880/4850 Resistance - 4960/4976/4999
TATAMOTORS (Close - 290.35) This
stock was not responding with rise. It will have stiff technical resistance at
293-294 levels. I am expecting another round of move towards 285-284 levels.
Break of 284 will cause a move towards 280. Trade short with stop loss above
294.
Support - 286/284/280 Resistance - 294/295/298
LT (Close - 1222.25) It has
already gained 10% in post Q- 4 result. Now we have stiff resistance above 1240
which is not likely to cross. I suggest to trade short on this stock with stop
loss above 1240. We can expect fall towards 1180.Support - 1108/1092/1080 Resistance - 1234/1241/1254
BHEL (Close - 216.60) It seems
that it is going to be retested at 209 levels. I am expecting those. Trade on
short side with stop loss above 219 levels. Support is at 209-208. Break below
208 (which will come sooner or later) then you can expect levels towards 180 in
coming days.
Support - 211/209/208 Resistance - 218/221/224
TISCO Lower level support 400
Crossover 422 - stay with volume More upside
MARUTI: (1215) Sell considering
1224 & 1232 crucial resistances keeping stop loss of 1245. Downward side
it'll fall down to 1193 & 1170. Upward side crossover above 1245 it'll
surge up to 1270.
M&M: (657) Crossover above
664 it'll surge up to 672 & 679. Downward side 654 a crucial support, keep
stop loss of 648 to your buys. Break below 648 it'll heavily fall down to 635
& thereafter to 627 & 614.
SBI: (1860) 1872 a crucial
resistance, keep stop loss of 1891 to your shorts. Downward side 1846 &
1820 crucial supports. Break below 1820 it'll heavily fall down to 1787 &
1768-1753. Upward side crossover above 1891 it'll turn positive & surge up
to 1920 & 1949.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
3780
|
3730
|
3797
|
3835
|
|
S.SELL BELOW
|
3712
|
3755
|
3650
|
3610
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
670
|
653
|
680
|
695
|
|
S.SELL BELOW
|
650
|
656
|
642
|
615
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
657
|
639
|
668
|
685
|
|
S.SELL BELOW
|
637
|
644
|
626
|
600
|
