Intraday Tips- Technical Report and Outlook for Wednesday 10th August
AMBHUJA CEMENT
The stock has tried to take support at lower levels and had an up rally in today's trading session. It has resistance at 135 and support at 120. One should now wait for crossing of levels on either side before taking any positions in it.
Resistance2- 134.5, Resistance1- 129.7, Pivot Point 124.9,
Support1- 120.1, Support2- 115.3
GRASIM
The stock was consolidating during the trading hour and then moved up and closed on a positive note. The stock is now facing resistance at 2200 and has support at 2120. As the stock closed with positive biasness a further up move can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.
Resistance2- 2178.23, Resistance1- 2136.57, Pivot Point 2075.78,
Support1- 2034.12, Support2- 1973.33
MAHINDRA & MAHINDRA
M&M had recovery session today also and made intraday high of 700. The stock now has support level at 680 and resistance level at 710. It is expected to consolidate to remain volatile in short term and may test its resistance level.
Resistance2- 707.55, Resistance1- 687.9, Pivot Point 660.25, Support1- 640.6, Support2- 612.95
TATA MOTORS
In today's trading session, the stock again moved downward and made a low of 784.05. The stock was down by more than 4 %. It now has resistance level at 821 and support level at 784.One may hold short position in it till it crosses its resistance level upside.
Resistance2- 889.4, Resistance1- 858.55, Pivot Point 841.15,
Support1- 810.3, Support2- 792.9
TATA STEEL
In today's trading session, the stock again moved downward and made a low of 477.75. The stock was down by more than 4.70 %. It now has next support level at 477 and resistance level at 505. One may hold short position in it till it crosses its resistance level upside.
Resistance2- 527.57, Resistance1- 518.33, Pivot Point 510.67, Support1- 501.43, Support2- 493.77
AMBHUJA CEMENT
The stock has tried to take support at lower levels and had an up rally in today's trading session. It has resistance at 135 and support at 120. One should now wait for crossing of levels on either side before taking any positions in it.
Resistance2- 134.5, Resistance1- 129.7, Pivot Point 124.9,
Support1- 120.1, Support2- 115.3
GRASIM
The stock was consolidating during the trading hour and then moved up and closed on a positive note. The stock is now facing resistance at 2200 and has support at 2120. As the stock closed with positive biasness a further up move can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.
Resistance2- 2178.23, Resistance1- 2136.57, Pivot Point 2075.78,
Support1- 2034.12, Support2- 1973.33
MAHINDRA & MAHINDRA
M&M had recovery session today also and made intraday high of 700. The stock now has support level at 680 and resistance level at 710. It is expected to consolidate to remain volatile in short term and may test its resistance level.
Resistance2- 707.55, Resistance1- 687.9, Pivot Point 660.25, Support1- 640.6, Support2- 612.95
TATA MOTORS
In today's trading session, the stock again moved downward and made a low of 784.05. The stock was down by more than 4 %. It now has resistance level at 821 and support level at 784.One may hold short position in it till it crosses its resistance level upside.
Resistance2- 889.4, Resistance1- 858.55, Pivot Point 841.15,
Support1- 810.3, Support2- 792.9
TATA STEEL
In today's trading session, the stock again moved downward and made a low of 477.75. The stock was down by more than 4.70 %. It now has next support level at 477 and resistance level at 505. One may hold short position in it till it crosses its resistance level upside.
Resistance2- 527.57, Resistance1- 518.33, Pivot Point 510.67, Support1- 501.43, Support2- 493.77
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