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Escorts
Positive breakout above 70.
Buyers may take action above 74
Target = 77-79-83
Reliance Ind
Looks on the verge of breakout
Hurdle at 847-850
No worry above 831 for short term.
Above 850 Target is 861-875.
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As like Last week, the US Fiscal cliff fear is still looming. Deadline is On Monday, Dec 31st.
Meanwhile, market likely to focus on India’s current account data for July-Sept due on Monday also
with any hike in petrol prices by the government to reduce the mounting subsidy burden of oil marketing companies.
Meanwhile, PMEAC Mr. Rangrajan again said that the reversal of monetary policy stand by
the RBI will come only when inflation shows definite signs of decline.
Nifty spot has been trading within a range of 5965-5823
for almost 15-18 sessions Which has formed descending
triangle pattern. This pattern has bullish implication
so most likely breakout may be on the upside.
Strong Support at 21 EMA at 5850-5830.
Hurdle at 5918-5930.
Crossover above 5930 with vol expect 5942-5962.
Three Consecutive Closing above 5965 may take up to 6022-6030.
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Bank of Baroda
Support on Rising Trend line at 847-852 region.
Above 853 Strong bullish trend.
May Breakout above 865.
Target = 878-882
Divis Lab
1075-1080 Support
Bulls may take control above 1092-1095
May kiss 1117
Exit below 1172
Indusind Bank
Support at 412-415 On Rising Trend line.
Closing above 424 Expect moves up to 435-438
Stop loss below 409
THOUGHT FOR TODAY ——————————
Optimistic Outlook
Optimism opens a door in difficult or hopeless situations. No matter what the crisis, an optimist maintains the outlook that it is a sign, time for a different way of thinking, or of doing things. Sometimes the signal has to be very clear even harsh, otherwise we may continue in self-delusion and not wake up. Of course if we lack optimism, instead of taking this signal as a step towards renaissance, complaint, resentment or even desperation will emerge.
Nifty spot
(Updated on 27-12-2012 at 07.20 AM)
Yesterday mentioned Nifty fut had resistance at 5931.
It could not cross over 5931 and made high at 5930.80
Strategy for Nifty spot for Today
Break below 5862 Expect slides up to 5851-5844
Nifty spot has strong support at 5844-5836 region.
5893-5902 Intraday resistance.
Crossover 5910 may take up to 5919-5928.
Decisive Break below 5836 may take NF up to 5814-5800.
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Tata Steel’s bull market being finally over ?
Tata Steel charts are given selling. Do you have patience for 3-7Days of Trading?
Tata Steel stock price is underselling zone. Just zoom the chart, watch closely.
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Recommended long position in
Nifty fut at 5850-5855
LT at 1610 for Target = 1632
ICICI Bank above 1114
M&M Fin
Extreme bullish above 1099
Grab around 1110-1120
Target = 1142
JK Lakshmi cem
No worry for bulls above 147
Buyers Area 155-158
Support at 147-151
Target = 168
DB Reality
Buyres zone 156-159
Bulls dominate above 152
Expect 165-168
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