Technical Analysis_19Nov10

Market may open on a downside gap and is expected to trade lower. Minor buying can emerge by noon .Caution should be taken at higher levels.
 

SENSEX (19930)

Sensex has Resistance at 20000, 20035, 20145 and 20215. Support at 19810, 19750,19709.

NIFTY (5998)

Resistance at 6020, 6032 and 6066. Support at 5963, 5946 and 5922

RECOMMENDATIONS

1)    TATA STEEL (623)

Support at  616 AND 608.Resistance at 627  if moves up then it can test 635 and 640.

2)    MARICO (141.2)

Resistance at 142 above it can test 146 AND 150. Support at 137 and 133 (Buy at declines)

3)    BIOCON (408.5)

Resistance is at 410 above it can test 413 and 421 (Buy at declines). Support at 403 and 399.

4)    EDUCOM (564.6))

The stock has support at 560 and 553. Resistance at 569 above can test 575 and 583. (Buy at declines)

5)    UNITECH(71)

The stock has support at 69 and 65. Resistance at 75.6 and 77. (sell at higher)

DERIVATIVE STRATEGIES

BUY BIOCON FUTURES AT 399

SELL UNITECH FUTURES AT 74