23 May 2011
SENSEX (Close - 16026.41) Sensex
again slipped lower from our given resistance of 16350. It is the impact of
weak rupee which is now just near 55.50 against USD. UPA were celebrating a
dinner party last night while it was the time for some meeting to take urgent
steps. It seems government has already given up and so I cannot expect any
improvement in forex market. Technical charts are suggesting for the re test of
15810 marks and it may happen by today only. One must watch USD/INR movement
and ignore all positive cues of europe or anywhere in the world. We are heading
towards deep and real deep troubles. Just avoid any kind of buying as buying
can back fire you anytime and at any levels. INR is moving towards a levels
which could create crisis like situation.
Support - 15900/15810/15700 Resistance
- 16110/16240/16360
NIFTY (Close - 4860.50) Nifty has
again tested 4850 and it is all set to prepare for the re test of 4790. I have
already issed a warning about this possibility. Technical support will be at
just at 4790 while we will face stiff technical resistance at 4900 levels.
Support - 4830/4790/4740 Resistance
- 4900/4930/4956
LT (Close - 1159.75) Technical
resistance will be at 1180 to 1190 zone now. This stock might be cracking
towards fresh recent lows. Charts are suggesting to trade on short side with
stop loss above 1176 for the target towards 1110.
Support - 1142/1128/1110 Resistance
- 1176/1188/1201
SBIN (Close - 1938.75) It has
given more than 12% of receovery from recent lows in post result days but now
again it is giving signs of weakness. One can trade on short side with stop
loss above 1960 for the first target at 1900 and then for 1884 also.
Support - 1909/1885/1850 Resistance
- 1960/1980/2002
TATA MOTOR Higher-level resistance
270 and support 258 Below more downside
HDFC BANK Below 490, bear
pressure in this counter
M&M: (639) Sell considering
645-650 solid resistance keeping stop loss of 656. Downward side it'll fall
down to 626-623 initially which is a crucial support to watch out for where
buying support not ruled out. Break below 623 it'll heavily crash down to 616
& 604.
MARUTI: (1153) It'll fall down
further to 1131 initially which is a crucial support to watch out for where
buying support not ruled out. In worst scenario break below 1131 it'll heavily
crash down to 1105. Upward side 1173 a nearest resistance crossover above which
it'll surge up to 1189-1199, sell on higher levels keeping stop loss of 1225.
ICICI Bank: (801) Sell
considering 815 a solid resistance keeping stop loss of 824. Downward side
break below 795 it'll fall down to 779 & 768.
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
241
|
237
|
248
|
258
|
|
S.SELL BELOW
|
235
|
238
|
229
|
220
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
725
|
692
|
753
|
789
|
|
S.SELL BELOW
|
690
|
697
|
660
|
600
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
232
|
229
|
234
|
238
|
|
S.SELL BELOW
|
228
|
231
|
225
|
221
|
