Thursday, April 28, 2011

Stock Market Tips India

TODAY : Yesterday Nifty open positively and showing range bound situation in the market and close quite flat too negatively. Now the support and resistance for the intraday support is 5811-5777 and resistance is 5885-5920. Intraday Stock is still hold 50 and 200 DMA indicate trend remain up and decline to buy side. 

TODAY : Bank Nifty Stock opens positively and it was showing range bound situation in the market. At the end it close negatively. Now the important level to watch out for intra working resistance 11810-11950 and support is 11683-11551. Above 11900-11950 looks hot and overall buying in the market. Lower level to buy side.

SENSEX (Close - 19545.30)
Sensex slipped little lower yesterday on some negative newsflow. We have derivative expiry today and this is going to be most crucial expiry. Once again I suggest to keep an eye on 19300 marks. If trades go below 19300 then we may see bears coming with upper hand. Well, all eyes must on Reliance now if government put any big penalty on it. If not, then perhaps fall must be limited from current levels. Yesterday night Fed reserve kept the key rates unchanged in USA. 

On other hand crude oil is surging again. Shall we concern? From past few weeks global market is moving higher with higher crude oil price. My call is look for buy only. On higher side we may get sell off. Over fall market may not favour till the time it stay above 19300 marks.

INTRADAY NIFTY (Close - 5833.90)
Nifty has closed just at 5830, a threshold which was mentioned in my yesterday's article. Do consider 5790-5770 as crucial support at down side. On higher side we have yet to cross above 5912. Today is the day for derivative expiry. Trade carefully. 

RELIANCE (Close - 986.10)
This stock has two crucial supports, one is at 980 and other is at 972. In any down side it will get on either of these levels. On higher side 1004 is the levels to be watched. I will buy this stock from lower side. 

HEXAWARE (Close - 71.10)
I have recommended this stock too many times in past one month. Yesterday it has closed above 71 marks, which is itself a sign of fresh strength. In current upmove it can hit as higher 75. I am suggesting a buy for short term. 

ASHOKLEY (Close - 55.60)
It has saved 52 levels in past few days of trade. Technically trade above 55 should result a boost to this stock for a move towards 57. In my view it can be a trading buy with stop loss below 54.80 levels. On higher side 57 can be reachable. I would not be surprised if I see some good short covering too.

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