Wednesday, May 11, 2011

Intraday Nifty Stock

BSE Stock market index: (18513) 18608 a nearest & 18690 a solid resistance up to which selling on higher levels to continue, keep stop loss of 18720 to your shorts.
Downward side 18367 a most crucial support break below which it'll heavily fall down to 18268, 18168-18141 & 18007.

Upward side crossover above 18720 it'll surge up to 18851 & 18950 in a disguised manner.
Intraday Nifty Stock MAY Future: (5550) 5514 & 5501 crucial supports. Break below 5501 heavy fresh selling will drag it down to 5462, 5429 & 5375.

Upward side 5578 & 5605 crucial resistances, up to which selling on higher levels will be seen, keep stop loss of 5605 to your shorts. Crossover above 5605 it'll surge up to 5623-5633 & thereafter to 5660 & 5693 in a disguised manner.

MARUTI: (1234) Break below 1230 it'll heavily fall down to 1202 & 1179. Upward side 1263 & 1278 solid resistances.

TATA MOTORS: (1186) Break below 1169 it'll heavily fall down to 1151, 1139 & 1120.
Upward side 1203 & 1216 crucial resistances.

ABG SHIP: (360) Break below 355 it'll heavily fall down to 343.

TVS MOTORS: (53.75) 55 & 56.25 solid resistances, sell.

GE SHIP: (274) Sell considering 279 a solid resistance keeping stop loss of 284. Downward side it'll fall down to 264 & 255.

AXIS Bank: (1230) Break below 1218 it'll heavily fall down to 1195 & 1181. Upward side 1253 & 1268 solid resistances.

BOB: (888) 876 a nearest & 865 a crucial support, keep stop loss of 865 & buy on declines. Upward side it'll rush up to 903 which is a solid resistance. Crossover above 903 it'll sustain on higher levels & flare up to 912 & 933.
Downward side break below 865 it'll heavily fall down to 854 & 844.

SBI: (2628) 2646 & 2665 solid resistance. Downward side break below 2588 it'll heavily fall down to 2557 & 2506.
Upward side crossover above 2665 it'll surge up correctively to 2690 & 2740.

YES Bank: (297) Break below 292.50 it'll heavily crash down to 283.50 & 273.50.

JUBILANT FOOD: (738) Buy considering 725 a solid support keeping stop loss of 715. Upward side 782 & 808 crucial hurdles. Crossover above 808 it'll shoot up to 849 & 911. 

SENSEX (Close - 18512.80)
Sensex closed with small negative and saved itself from any big damage in the last trading session. Thanks to EGoM, which has postponed. Well, as I am repeating from past few days that pause should not be considered as strength. I will consider the levels of 19270 as strong trading support. Still I feel that this market can slip sharper in panic in coming days. 

We need to see the price hike in petro-product also. Market may turn nervous if hikes go more than expected levels. In my view market will fall even if it hikes by expected levels. We have seen weakness in some of selected metal stocks and technology stocks. I will not trade long.

Nifty trading (Close - 5541.25)
Intraday Nifty has recovered its ground without breaking 5500 marks. Consolidation in this zone may also result the weakness anytime. On the higher side 5600 will remains tough resistance for today's trade also. Below 5500 it can slip to 5450 first and then free fall. 

INFOSYSTCH (Close - 2880.05)
This stock had a strong trading support at 2880 but in past few days it has traded well below 2880 too. Technically one can trade short on this stock if it slip below 2870 for the target of 2840. One can follow small stop loss of 10 rupees only. 

MARUTI (Close - 1241.80)
In past few days this stock has traded in a channel. Now it has lower channel support at 1234. Well, if it breaks below 1234 then we can see a remarkable fall. It may hit 1215 to 1210 on the break. I suggest short below 1234 with small stop loss. 

RELIANCE (Close - 950.75)
This stock is on pause from past few trading sessions. It has tried to move higher but failed to cross above 970. We must note that it has important support at 940, which may be under test again. I will prefer to trade short if this stock sustain below 950 itself.

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