Showing posts with label Market Report. Show all posts
Showing posts with label Market Report. Show all posts
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HERO HONDA
Hero Honda has strong opening in the today's session and continues with it, but shown some profit at the higher level and closed with the gains. The stock is looking bullish in the coming time and above the level of 1585 it may continue with the upside momentum.
Resistance2- 1618.2, Resistance1- 1581.4, Pivot Point 1546.2, Support1- 1509.4, Support2- 1474.2
HINDALCO
Hindalco has strong uptrend. The stock is now consolidating at the resistance level of 210 and a decisive breakout above the level may continue the upside momentum in the short run. The stock is looking risky below the level of 204.
Resistance2- 212.7, Resistance1- 210.3, Pivot Point 207.6, Support1- 205.2, Support2- 202.5
ICICI BANK
ICICI Bank has strong uptrend. The stock is consolidating at the higher level with the positive bias. So if the level of 1120 is breaches then it may show
some more upside in the coming time.
Resistance1- 1117.83, Resistance2- 1108.67, Pivot Point 1100.83, Support1- 1091.67, Support2- 1083.83
JINDAL STEEL & POWER
Jindal Steel & Power found support at 663 which served as a strong support level. In today's trading session it made a smart recovery from the support level and made a high of 686.90. It has resistance at 690 above this level it would be in a bullish trend else below 663 it would be bearish in trend.
Resistance2- 699.97, Resistance1- 689.83, Pivot Point 676.77, Support1- 666.63, Support2- 653.57
KOTAK MAHINDRA BANK
Kotak Mahindra Bank in today's trading closed near to the resistance level of 460. It manages to trade above the 10 days and 50 days moving averages, from this level further upside of movement would be expected. In coming trading session it manages to trade and sustain above the resistance level of 460 it would be in an upward trend.
Resistance2- 463, Resistance1- 459.6, Pivot Point 455.4, Support1- 452, Support2- 447.8

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Nifty Futures
Buy Nifty Futures above Rs 5,717 for target Rs 5,745-5,760 and stop loss below Rs 5,690.

Bank Nifty Futures
Buy Bank Nifty Futures above Rs 11,650 for target Rs 11,700-11,800 and stop loss below Rs 11,600.

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The coming week should see some gains but it is very difficult to imagine that after a 300 point rally from Monday to Friday the next week will give us the same amount of gains that is very unlikely. So the question is for traders what is the trend, the short term trend has been up for 3 days that persists. Today's breakout tells us that the Nifty has gone up on the upside that is not very convincing because just 4 days ago we had broken down on the down side.

So Nifty needs to stay above 5600 for us to get convinced okay this is the real thing and it may well do so but we will have to give it a few days before we can say yes, we are through. Short term trade should be only on the upside buy on dips. Today is not a dip so all of you who have long positions take out half of it, take profits on at least half, carry the next balance to see if we can get more on Monday or Tuesday. There will be dips next week which will then give re-entry into this trend.


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Top Gainers
DLF Ltd. with +6.36%
Infosys Techno. with +5.34%
NTPC with +3.98%
Wipro Ltd with +3.70%
ICICI Bank with +3.61%


Top Loosers
Ranbaxy Labs. with -.66%
Siemens Ltd. with -.17%
GAIL (India) Ltd. with -.12%