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Daily Market Analysis
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Praveen Kumar
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19
March 2010, Friday
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Mobile no. +91-9893369889
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e-mail id - praveen@viecapital.com
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Chat line id - talk2praveen2002@yahoo.co.in
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SENSEX (Close - 17519.30)
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Sensex has
traded ideally flat, little move came only in last 15 minutes only. Rise in
fag end of session was indicating only the short covering. Technically the
direction of trade is still up but we have strong resistances on higher side.
In my view we should prefer to take fresh long only on the cross of 17700
marks. We need a very strong trigger on higher side to move above this
resistances but global cues are also little silent right now. The significent
move has seen only in Reliance on the hope of improved earning in current
quarterly result.
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Support - 17360/17225/17100
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Resistance -
17570/17680/17800
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NIFTY (Close - 5245.90)
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Nifty closed
just above another crucial 5230 marks. As long as it trade above 5230 we can
expect it going towards 5280. I must add it may not be so easy to cross 5280
to 5312 marks. Good trading support is 5206-5198.
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Support -
5200/5168/5124
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Resistance - 5254/5280/5312
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JPASSOCIAT (Close - 152.15)
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This stock has consolidated for 12 trading sessions in the zone
fo 152 to 142 marks. Now it is inching higher. Technically it is a buy with a
stop loss below 150 marks. We can expect a move towards 160 marks anytime and
anyday.
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Support - 150/148/145
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Resistance -
156/159/163
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TATA
MOTORS (Close - 780.50)
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As I said yesterday that we need to see trade above 800 to make a
buy. Trading stracture is not suggesting for immediate cross of this
resistances. Key is that if index goes in red then we can expect a move
downward on this stock. It is very clear that above 800, it will be a very
strong buy.
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Support - 774/768/760
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Resistance -
788/799/813
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INFOSYS TECH (Close - 2787.60)
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This stock has seen steady gains in past few weeks of trades.
Technically the levels of 2800 is expected to be a hurdle but cross of this
mark will result another massive rise. Trigger above 2800 may result 3000 on
charts. For today's trade buy above 2800.
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Support - 2760/2742/2708
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Resistance -
2800/2818/2850
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Disclaimer: These recommendations are based on the theory of
technical analysis and personal observations. This does not claim for profit.
I am not responsible for any losses earned by traders. It is only the outlook
of the market with reference to its previous performance. You are advised to
take your position with your sense and judgment. We are trying to consider
the fundamental validity of stocks as far as possible, but demand and supply
affects it with vision variations. This analysis is provided to you by viecapital.
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Discloser- I
do not have any personal position in any stocks. It is safe to assume that my
clients could have some positions and hence I am interested in above written
stocks.
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