Friday, March 4, 2011

Indian Stock Market Experts

The nifty fut index now at 5313 in last week it touch the 5232, there still a good down side gap opportunity for shorting, the index has some resistance at 5340-5380 if the index do not go above the that level in this week then down side 5180 is still open to trade, and below 5180 the 4786 yearly support and retracement is there we are writing the target of 4700 since last 1 month. And the target is just about to come.
Go short at 5340-5480 with the stop loss of 5570 target 5180-4780. 

Remain out of the market, the pivotal has broken on Monday so bank nifty can touch the monthly resistance 11833.  

RELIANCE:  A Symmetrical triangle has been found on Monday in this counter if the stock can break the 999 and sustain the level then possible target will 1021-1050. 

TATA MOTORS:  If sustain above the 1123 then the up side target 1167-1203.

M&M: Watch out the 642 level for buying opportunity for the target of 697-702.

TATA STEEL : Go short again around 648 with the stop loss of 664 for the target of 590-560.

HINDALCO: No trade open this time.

STERLITE: Exit the short position this time.

BHARTI AIRTEL: A break out found in symmetrical triangle, on Monday it can touch the 348-360 level again.

RCOM:  Wave 3 drop down to  110-89. Revised the stop loss to 121. and maintain short position for the target of 69- 40.

SBIN: If sustain above 2720 then possible target will be 2800.

ICICI BANK: If maintain above 1025 then target 1065-1085.
AXIS BANK:  short 1300 with the stop loss of 1349 for the target of 1150-1080.

PNB: All position exit this time.

INFOSYS: If maintain above 3100 then up side target will be 3130-3176-3252

RANBAXY: All the down side target match at 440 now remain out from the counter. 

CIPLA:  The fourth wave seems to complete at 296 and a possible bounce back is possible to 325-335.back is possible to 325-335.

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