Today the Indian markets opened on weaker side mirroring Asian markets, which fell after S&P slashed its credit rating on 15 European and US banks. For today the critical support level for NSE Nifty is expected around 4,760 and if the it trades below this level then the lower support will be around 4,736. Any positive surprise in GDP figures can bring back some optimism and after the consolidation above 4,760, the index can move higher. For today the first resistance is around 4,832 followed by the major resistance at 4,870.
GAIL INDIA
The stock has managed to follow its sideways trend with some consolidation in yesterday’s trading session still facing strong resistance at the levels of 396, increasing the strength of the level. If the stock will manage to trade with the positive biasness in the near term then it may manage to cross the resistance level else it may bounce back.
Resistance: 397.12 - 391.63, Support: 382.83 - 379.52
SUN PHARMACEUTICALS
The stock consolidates with negative biasness in yesterday’s trading session. The overall trend of the stock is sideways so one should wait for consolidation of either side before taking any position in the stock. It now has support level at 506 and resistance level at 518. In near future the stock may recover after crossing the resistance while below support level bearish trend can be expected in the stock.
Resistance: 521.9 - 515.2, Support: 504 - 499.5
RELIANCE INFRASTRUCTURE
The stock remained range bound during the trading hours and ended up on a positive note. The stock is now facing a resistance at 417 and has support at 400. As mentioned previously it has taken support at lower levels and bounced back. The stock is looking bearish on the charts and is consolidating with negative biasness. Breaching of support levels may take stock take stock further downwards.
Resistance: 420.07 - 415.23, Support: 405.28 - 400.17
HINDUSTAN UNILEVER
Yesterday the stock had shown positive biasness managing to trade near its resistance level of 392. It is still trading with the major sideways trend having support at the level of 371. In today's session it is expected to remain positive and consolidate more near its resistance level or may even cross it confirming the bullish trend.
Resistance: 394.57 - 391.28 , Support: 383.38 - 378.77
GAIL INDIA
The stock has managed to follow its sideways trend with some consolidation in yesterday’s trading session still facing strong resistance at the levels of 396, increasing the strength of the level. If the stock will manage to trade with the positive biasness in the near term then it may manage to cross the resistance level else it may bounce back.
Resistance: 397.12 - 391.63, Support: 382.83 - 379.52
SUN PHARMACEUTICALS
The stock consolidates with negative biasness in yesterday’s trading session. The overall trend of the stock is sideways so one should wait for consolidation of either side before taking any position in the stock. It now has support level at 506 and resistance level at 518. In near future the stock may recover after crossing the resistance while below support level bearish trend can be expected in the stock.
Resistance: 521.9 - 515.2, Support: 504 - 499.5
RELIANCE INFRASTRUCTURE
The stock remained range bound during the trading hours and ended up on a positive note. The stock is now facing a resistance at 417 and has support at 400. As mentioned previously it has taken support at lower levels and bounced back. The stock is looking bearish on the charts and is consolidating with negative biasness. Breaching of support levels may take stock take stock further downwards.
Resistance: 420.07 - 415.23, Support: 405.28 - 400.17
HINDUSTAN UNILEVER
Yesterday the stock had shown positive biasness managing to trade near its resistance level of 392. It is still trading with the major sideways trend having support at the level of 371. In today's session it is expected to remain positive and consolidate more near its resistance level or may even cross it confirming the bullish trend.
Resistance: 394.57 - 391.28 , Support: 383.38 - 378.77
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