Yesterday due to big event, high volatility were saw in the market resulted at the time of gained 165 points but sudden trend change in the market and almost wipe out all gained but finally managed to gained nearly 30 points. Over all uncertainty in the market which indicate in either side sharp move in coming days. On a technical side, we may consider resistance 5354, 5375, if sustained with volume positive bias and over all buying in the market. On the flip side, consider support 5300, decisively break will comedown up to 5268, then 5215,5160 possible.
Trend decider of this Week - 5335
Resistance - 5476-5648
Support - 5182-5061
BSE INDEX
Now the day of volatility in the market on Budget Day trading. We may consider major resistance in near term 18000-18100 and successfully crossover will move further, on the lower side support exi 17700, thereafter over all selling in the market.
Trend Decider of this week : 17876
Resistance - 18864-18283
Support - 17295-16888
CNX BANK NIFTY
In the volatile market banking sector at beginning it shows a good strength. but at the end of the day it closed to a flate and all big shots closed in the red. On a technical side wide range of Bank Nifty like 10000 to 111000, a decisively break in either side will give direction in the market. Short term above 10500 positive bias but higher level to sell side.
Trend Decider of this week: 10558
Resistance - 10948-11460
Support - 10046-9657
REL COMM
Consider resistance 89-90 range and sell side.......with tight stop loss..........down side target 80-75 in coming days.
LIC HOUSING
Any long should be protected with tight stop loss 180.. Decline to best buy .......
ITC
Bullish break out with volume.........with consider support range 162-165 range and decline to buy side for target 178-185 in coming days.
HUL
Looks very very hot......and decline to best buy... above 275 strong bull favour... easily test 300 mark in coming days.
CAIRIN LTD
Looks good and near to bullish break out.....buy on decline strategy with consider stop loss...........?...........for long side.
ONGC
Lower level support is 260... and buy side... Domestic & export formulation drives topline .The company reported topline of ` 1,135cr, growth of 18% y-o-y basis against our estimated sales of ` 1,125cr, primarily due to 20% growth in formulation export business, 17% growth in domestic formulation and 21% growth in consumer wellness business on y-o-y basis. Net sales during 9MFY11 grew 19% on y-o-y basis to ` 3,296cr.
ACC: ACC witnessed fresh addition of short positions in the last session.The stock added 17.67% in open interest along with a decrease in cost of carry from -35.21% to -49.13%. Short positions can be assumed in the stock at 980-990 levels for targets of 960 and 950 levels with a stop loss placed at 1005(Spot) levels.
Mundra Port: Mundra Port witnessed fresh addition of short positions in the last session. The stock added 14.85% in open interest along with an increase in cost of carry from -0.72% to 7.68%. Short positions can be
assumed in the stock at 140-145 levels for targets of 132 and 129 levels with a stop loss placed at 149(Spot) levels.
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