Technical Analysis 08-Feb-11

Market may open with a flat note and is expected to trade sideways with minor positivity in the morning session.

Sensex (18037)
Sensex has resistance at 18168 and 18228. Support at 17919 and 17839.

NIFTY (5396)
Resistance at 5410, 5435 and 5450. Support at 5384, 5379 and 5348 below further selloff.

RECOMMENDATIONS

1) JUBILANT FOOD (515)
The support is at 505 and 500. Resistance at 521 above it can test 540 and 562 (Buy for delivery)

2) LANCO INFRA (46.25)
Support at 45.1 and 43.75. Resistance at 47 above it can test 49 and 51. (Buy for delivery)

3) BHARTI SHIPYARD (158.4)
The support is at 153 and 148. Resistance at 161 above it can test 165 and more. (Buy at lower)

4) SANGAM INDIA (46.75)
Support at 45 below 43. Resistance at 49 above 54. (Buy at lower levels)

5) ITI (37.55)
Resistance at 38.4 above 40.1 and 41.44. Support at 35.9 and 35.35. (Buy at lower for short term)

DERIVATIVE STRATEGIES
SELL PUNJLLOYD FUTURES AROUND 89.50 LEVELS
BUY BPCL FUTURES AROUND 590 LEVELS

If you like this post, please add your comment.
If you don't like then, please let me know so that I can Improve.

SPREAD THE WORD