Wednesday, November 24, 2010

Technical Analysis 24-Nov-10

Our markets are expected to open with a flat note tracking Asian cues and we may see nifty consolidating ahead of the November f&o expiry happening tomorrow.

Sensex (19691)

Sensex has resistance at 19787, 19845 and 19901. Support at 19613, 19519, 19481 and 19439.

NIFTY (5934)

Resistance at 5952, 5968 and 5975. Support at 5908, 5868 and 5848.

RECOMMENDATIONS

1)    PATNI COMPUTERS (474.5)

The outlook turns out to be positive, having support at 470 and 464. (Buy at declines). Resistance at 477 above it can test 482 and 490.

2)    BHARTI (329)

The stock has support at 325 and 320. Resistance at 333 above it can test 340 and 342. (Buy at declines)

3)    DR REDDY (1760)

Support at 1751 and 1742 (Buy at declines). Resistance at 1771 above it can test 1794 and more.

4)    INFOSYS (3012)

Support at 2985 and 2975 if moves down then it may test 2944 (Expect sideways trend). Resistance at 3025 above it can test 3060 and 3089..

5)     CAIRN INDIA (320.45)

Support at 318 and 313 (Buy at lower levels). Resistance at 323 above it can test 328.

DERIVATIVE STRATEGIES

BUY BHARTI FUTURES AT 325

SELL ACC FUTURES AT 1017

Tags: Technical Analysis, Free Intraday Stock Tips, trading recommendations, bse/nse market tips, nse / bse stock tips, 24 Nov

1 comment:

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