Technical Analysis_16Nov10

Market may open flat to negative. We may see selective buying which can be expected by noon. Mixed trend to continue.

Sensex (20309)

Sensex has resistance at 20482, 20508 and 20596. Support at 20225, 20113 and 20057.

NIFTY (6121)

Resistance at 6135, 6141 and 6168. Support at 6100, 6065 and 6045.

RECOMMENDATIONS
1)    L&T (2085)

Support at 2068 and 2057 (Buy at declines). Resistance at 2099 above it can test 2105 and more.

2)    BHARTI (309)

The stock is oversold and is expected to move up from current levels. Resistance at 312 above it can test 318, 325 and more. Support at 305 and 303.

3)    TISCO (618)

Support at 611 and 608 (Buy at declines). Resistance at 624 above it can test 630.

4)    KLG SYSTEL (92.1)

Support at 90 and 88 (Buy at declines). Resistance at 93.5 above it can test 95 and 98..

5)    JUPITER BIOSCIENCE (78.45)

Support at 76.5 and 74 (Buy for short term). Resistance at 80 above it can test 86 and 88.

DERIVATIVE STRATEGIES

BUY L&T FUTURES

BUY WIPRO FUTURES