17 May 2012
SENSEX (Close - 16030.10) Sensex
has finally broken the levels of 16000 in last trading session but somehow
manages to close above 16000 levels. Technical charts are suggesting for the
support at current levels. We have already slipped so sharply from 17432 that I
cannot rule out the possibility of correction against those fall. It seems that
first corrective rise can take Sensex towards 16428. Technical support for
today's trading will be at 15900. I am not advocating for short trades at current
levels from yesterday onwards. You can read my blog to see the complete
technical. You can blame fall in INR for the sell off in Stock market. Real
reason is that India is in slowdown or on the verge of slow down from past many
months. I am retaining my views from past many months. One rise comes and
Indian forget all problem (I am not amongst those, are you?). Greece will have
mid trem poll on June 17.
Support - 15975/15900/15800 Resistance
- 16180/16310/16428
NIFTY (Close - 4858.25) Nifty has
a technical support at 4951 which was saved yesterday. Break below 4986 has
pushed the support lower. It is still weak and may fall up to 4913 but a
reaction can expected after sharp fall. This reaction can extend up to 5060 to
5080 levels.
Support - 4951/4930/4913 Resistance - 4999/5021/5060
SBIN (Close - 1827.70) it hit a
low of 1802.20 yesterday and bouced. It has strong technical support at 1780
which is still untested but we may see some bounce before moving towards those
levels. Buy this stock with stop loss at 1810. You can hope for a move towards
1880 levels.
Support - 1810/1800/1780 Resistance - 1845/1863/1880
INFOSYS (Close - 2368.45) This
stock will have good support at 2350 level. I tried yesterday to trade long and
I will try long trade again. Technical charts are suggesting that we can buy
this stock with 2350 for a move towards 2400 and then 2430.
Support - 2350/2323/2300 Resistance - 2400/2430/2458
BPCL Bullish break out... on
yesterday mentioned And just check yesterday high 769 Yesterday enjoy our all
clients
TISCO Strong resistance 415-420
If not close above, ultimate target...?
DLF Below 185, do not hold long
position Ultimate target 143
HINDALCO Downward bias to
continue... Major support 105 - Weekly close below Real panic in this counter
TATA MOTORS: (269) Sell
considering 274.50 a solid resistance keeping stop loss of 278. Downward side
it'll fall down to 262, 259 & 253. Upward side crossover above 278 it'll
surge up to 285 in a disguised manner.
BAJAJ AUTO: (1617) Sell keeping
stop loss of 1639. Downward side it'll fall down to 1599 & 1556.
ICICI Bank: (794) 780 a crucial
support if it remains intact then corrective up surges will be seen. Crossover
above 808 it'll rush up to 820-825 & thereafter to 839. Downward side break
below 780 it'll heavily crash down to 758 & 745.
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
BUY ABOVE
|
322
|
319
|
326
|
334
|
S.SELL BELOW
|
317
|
321
|
313
|
308
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
BUY ABOVE
|
644
|
638
|
652
|
665
|
S.SELL BELOW
|
636
|
642
|
629
|
617
|
