Technical Analysis_05Nov10

Muhurat Trading Deepavali 2010 - Happy Trading

The pre-opening session of the market begins for mahurat trading with the Nifty and Sensex indicating a strong start today. Normal trading will start at 6.15 pm.Market may open with a positive note, Due to overbought situation profit booking can be expected and this can cause volatility.

Sensex (20893)

Sensex has resistance at 21012, 2119. Support at 20744, 20698 and 20562.

NIFTY (6281)

Resistance at 6301, 6325 and 6353. Support at 6256, 6246, 6230 and 6210.

RECOMMENDATIONS

1)    JINDAL STEEL(719)

Support at 715 and 710. Resistance at 721 if moves up with volumes then it can test 728 and 732. (Buy at declines)

2)    STERLITE (181)

The stock has resistance at 183 above 188. Support at 178 and 175 levels. (Buy at declines)

3)    BHEL (2525)

.     Support at 2513 and 2498 (Buy at declines). Resistance at 2533 above it can test 2550, and 2560.

4)    INFOSYS (3077)

Support at 3065 and 3047 levels. Resistance at 3085 above  3099 and 3130. (Buy at declines).

5)     HDFC BANK (2389)

   Support at 2375 and 2363 levels (Buy at declines). Resistance at 2397  if moves up then it can test 2425 and 2450.


DERIVATIVE STRATEGIES
BUY KOTAK FUTURES AT 483

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

Airtel joins Social Networking

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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

Why invest in Equity?

Why do you want to invest in stock markets?

http://www.equitymaster.com/5MinWrapup/detail.asp?date=11/1/2010&story=3&title=The-biggest-reason-you-should-not-invest-now

I found this article from equitymaster to be simple and sense. Although the question of making money will always be there regardless of whether you are in debt or not, what we need to think over is all the major corporations in the world run their businesses on debt financing.

So I would put it this way, investing in stock market is not a bad option in whatever situation you are in provided you have a sound knowledge of the stock market functionality, technical analysis etc.

Technical Analysis_01Nov10

We are going to see a positive opening for our markets and is expected to remain with a positive bias. All eyes on the RBI policy meet schedules tomorrow.

Sensex (20032)

Sensex has resistance at 20176, 20199, 20240 and 20311. Support at 19821, 19787 and 19705.

NIFTY (6017)

Resistance at 6032, 6055 and 6087. Support at 5999, 5980 and 5968.

RECOMMENDATIONS

1)    RELIANCE (1096)

Support at 1090 and 1083 below it will have strong support at 1075. Resistance at 1106 if moves up with volumes the it can test 1114 and more.

2)    ITC (171.2)

The stock has resistance at 172.5 above 176.7 and 183. Support at 168 and 166.5 levels. (Buy at declines)

3)    AREVA T&D (294)

.     Support at 290 and 284 (Buy at declines). Resistance at 300 above it can test 306 and 327.

4)    MTNL (67.4)

Support at 65.5 and 63.9 levels. Resistance at 69 above 72, 75 and 80. (Buy at declines).

 5)     MOTHERSON SUMI (183)

   Support at 179 and 175 levels (Buy at declines). Resistance at 185.5 if moves up then it can test 190, 193.75 and more.

 DERIVATIVE STRATEGIES

BUY ITC FUTURE AT 168

BUY AXIS BANK FUTURE AT 1460