Technical Analysis 24-Dec-10

Our markets may open with a negative note and is expected to trade lackluster. Sentiment will remain negative for the day.

Sensex (19982)

Sensex has resistance at 20023, 20109 and 20137. Support at 19958, 19919 and 19850.

NIFTY (5980)

Resistance at 5988, 6006 and 6020. Support at 5974, 5961 and 5940.

RECOMMENDATIONS 

1)      STRIDES ACROLAB (422.35) 

Support at 418 and 413. (Buy for short term) Resistance at 425 above it can test 431 and more.

2)    IIFL (83.25)

Resistance at 85 above it can test 86 and 93. Support at 81.1 and 78. (Buy at declines)

3)    PIPAVAV SHIPYARD (79)

Support at 77.5 and 76.1. Resistance at 81 above it can test 83 and 85. (Buy at declines)

4)    SUNPHARMA (453)

Support at 448 and 443. Resistance at 456 above it can test 461 and 467. (Buy at declines)

5)     AUROBINDO PHARMA (1296)

   Support at 1278 and 1265. Resistance at 1305 above it can test 1335 and more. (Buy at declines)

DERIVATIVE STRATEGIES

BUY AUROBINDO PHARMA AT 1278.

BUY STRIDES ACROLAB AT 416 LEVELS