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Date: March 12, 2010Search
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 Daily Market Analysis

Praveen Kumar

11 March 2010, Thursday

Mobile no.  +91-9822652035

e-mail id - praveen@viecapital.com

Chat line id - talk2praveen2002@yahoo.co.in

CONTACT NUMBER TO BE CHANGED FROM 13 MARCH 2010 - NEW MOBILE NO - 09893369889

SENSEX (Close - 17098.30)

Sensex traded in a very small range for third day in a row but still above 17000 marks. Study remains same. Sensex may attempt to cross 17200 marks but supply may also be high at higher levels. IN the lower side Sensex has created a good technical support at 17000 marks itself. Break of 17000-17200 ranges on any direction will be decisive. It is very hard to pick any sector but I believe that we must have good trading opportunity on metal stock if Sensex give a break above 17200 marks. Another possibility of trade is 'another range bound day'.

Support - 16940/16850/16760

Resistance - 17200/17280/17450

NIFTY (Close - 5116.25)

Nifty has closed just above 5100 marks in last trading session. It has left the market clueless, neither above 5151 nor below 5100. I was not expecting this pause so soon. Technical target is still intact at 5151 marks. In the lower side it has trading support at 5040 marks while 5000 will act as better support.

Support - 5100/5050/5024

Resistance - 5150/5180/5210

SBIN (Close - 2037.25)

This stock has maintained supports at lower levels. Technically if trades sustain above 2060 then we can expect upmove towards 2100 marks. It has good trading support at 2020 marks. If it breaks 2020 then we can see profit taking after recent rise. Chances for rise is less.

Support - 2032/2020/2000

Resistance - 2050/2066/2089

TATA STEEL (Close - 612.20)

This stock is showing signs of choppy trades at higher levels. Technically it can be a short trade as it failed to cross above 628 marks. One can prefer to trade on short side on rise above 617 with stop loss above 620. Will it break 600? May be yes. Trade long above 628 only.

Support - 603/592/588

Resistance - 620/628/634

PUNJLLOYD (Close - 181.30)

This stock has bounced from lower levels but it has strong technical resistance at 188-190 zone. After a slip from higher levels it is looking weak. One can prefer to trade on short side on higher levels with suitable stop loss. One can expect moderate to good slip in the days to come.

Support - 178/176/172

Resistance - 184/187/190

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For Equity - Write "SUB EQ"

For Derivative - Write "SUB DER"

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For NIFTY FUTURE (Positional + Intraday) - Write "SUB NIFTY"

TRACK RECORD OF PREVIOUS TRADING SESSION

EQUITY : SOLD SBIN @ 2045/ PROFIT BOOKED @ 2030

EQUITY : SOLD TATA STEEL @ 612/ PROFIT BOOKED @ 606

EQUITY : SOLD LT @ 1588/ PROFIT BOOKED @ 1574

DERIVATIVE : SOLD LT FUT@ 1587/ PROFIT BOOKED @ 1574

DERIVATIVE : SOLD TATA STEEL FUT @ 609/ BOOKED PROFIT @ 604

COMMODITY : SOLD MCX COPPER @ 342 & 344/ BOOKED PROFIT @ 338

NIFTY FUTURE : SOLD NIFTY FUT@ 5130/ PROFIT BOOKED @ 5110

NIFTY : EARNED 555 POINTS OF NIFTY FUTURE IN FEBRUARY MONTH SERIES

 

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Days for speculative trades are almost over. You need technical calls to trade with comfort. Its our humble advise to trade with good sense.

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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.

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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