Technical Analysis_03Nov10

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

Sensex (20345)

Sensex has resistance at 2419, 20501 and 20610. Support at 20300, 20221 and 20032.

NIFTY (6119)

Resistance at 6137, 6149 and 6193. Support at 6104, 6090, 6060 and 6030.

RECOMMENDATIONS

1)    SPICE JET (88)

Support at 86 and 84.75. Resistance at 90 if moves up with volumes then it can test 93 and 100. (Buy at declines)

2)    ABAN (811)

The stock has resistance at 814.5 above 821 and 837. Support at 805 and 799 levels. (Buy for short term)

3)    WIPRO (433)

.     Support at 428 and 425 (Buy at declines). Resistance at 436.9 above it can test 441, 447 and 453.

4)    ICICI BANK (1231)

Support at 1215 and 1206 levels. Resistance at 1238 above 1245 and 1266 and more. (Buy at declines).

5)     ABG SHIPYARD (476)

   Support at 470 and 464 levels (Buy at declines). Resistance at 478  if moves up then it can test 483 and 494.

 DERIVATIVE STRATEGIES

BUY WIPRO  FUTURE AT 420

BUY RANBAXY FUTURE AT 595