NIFTY
Buy at / above: 4847.64 Targets: 4862.62 - 4880.07 - 4897.55 - 4915.05 Stoploss : 4830.25
Sell at / below: 4830.25 Targets: 4815.29 - 4797.96 - 4780.65 - 4763.38 Stoploss : 4847.64
| RESISTANCE 2 | 4945.6 |
| RESISTANCE 1 | 4890.5 |
| SUPPORT 1 | 4769.6 |
| SUPPORT 2 | 4703.7 |
The markets should remain positive most of the day as we had expected - as the steam would build up along with frustration to see a sell off on Thursday !
HDFC Head & Shoulders - We had envisioned this a some time back and looks like now the stock is ready for a fall, mid term short positions can be taken at higher levels during the day as the stock could easily loose upto 50 Rs starting now !
Buy at / above: 625 Targets: 630.94 - 637.24 - 643.56 - 649.92 Stoploss : 618.76
Sell at / below: 618.76 Targets: 612.86 - 606.69 - 600.55 - 594.43 Stoploss : 625
Sell at / below: 618.76 Targets: 612.86 - 606.69 - 600.55 - 594.43 Stoploss : 625
| RESISTANCE 2 | 634.1 |
| RESISTANCE 1 | 628.2 |
| SUPPORT 1 | 617.1 |
| SUPPORT 2 | 611.9 |
BHEL - formed a doji pattern on Friday and the stock is now long overdue on some returns - use 1575 as a support. If the markets run we could possibly see some easy gains on this side too.
Buy at / above: 1590.01 Targets: 1599.2 - 1609.21 - 1619.25 - 1629.32 Stoploss : 1580.06
Sell at / below: 1580.06 Targets: 1570.92 - 1561.03 - 1551.16 - 1541.33 Stoploss : 1590.01
Sell at / below: 1580.06 Targets: 1570.92 - 1561.03 - 1551.16 - 1541.33 Stoploss : 1590.01
| RESISTANCE 2 | 1621.1 |
| RESISTANCE 1 | 1603.7 |
| SUPPORT 1 | 1572.3 |
| SUPPORT 2 | 1558.2 |
When I look at monthly charts It does looks that Nifty has taken excellent support of 4758 yesterday, It is Parallel to Bullish trend line which running since Aug2009
ReplyDeleteHowever if I connect the bearish trend line Starting since Nov2010 then 4655 should be the bottom for October, I feel it might just touch that levels in Sept.
If Sept closing is below 4758 then you can easily bet for another 200-400 points down in October. And as History suggest October does play a key role in breaking the Bearish trend so we might make important bottom for this bearish trend in Oct2011..
Happy Trading!!