Technical Analysis_02Nov10

Market may open with a negative bias and may trade sideways till noon. Selective buying can be seen in the second part of the day.

Sensex (20355)

Sensex has resistance at 20387, 20489 and 20565. Support at 20174, 20100 and 20932.

NIFTY (6117)

Resistance at 6131, 6142, 6172 and 6201. Support at 6110, 6075, 6055 and 6028.

RECOMMENDATIONS

1)    LUPIN (445)

Support at 436 and 429. Resistance at 447 if moves up with volumes then it can test 458 and 465. (Buy for short term)

2)    DB REALTY (430)

The stock has resistance at 435 above 450 and 464. Support at 421 and 415 levels. (Buy at declines)

3)    TECPRO SYSTEMS (425.5)

.     Support at 418 and 410 (Buy at declines). Resistance at 432.5 above it can test 441, 450 or more.

4)    JP ASSOCIATES (124.6)

Support at 122.1 and 120.85 levels. Resistance at 126.1 above 129 and 133. (Buy at declines).

5)     CAIRN INDIA (324)

   Support at 320 and 317 levels (Buy at declines). Resistance at 326.5 if moves up then it can test 333 and 337.6.

 
DERIVATIVE STRATEGIES

BUY GAIL FUTURE AT 488

BUY RCOM FUTURE AT 181