Market Outlook
ADX continues to move up along with the price fall which suggests that downside momentum continues. RSI moved into the oversold zone. Expect 15983-15861 range to be tested. If sustains below 15860 then December 2011 low of 15135 may be tested.
Resistance will be at 16133 and 16370. Reversal can happen around 21st June or around 4th of June. Ideally, should have made the bottom at or around 20th April and 7th May but did not form one. Downside momentum was seen during these date and date range.
The SENSEX is below 10 day average and firs reversal confirms may come on rise and close above 10 day average. The slope of the same has to be positive as it moves and sustains above 10 day average. To witnessed that we have to wait as the trend remains down. The 10 day average is at 16520.
Today's Sell Recommendation
Scrips | Last Close | Level 1 | Level 2 | Center Point | Level 3 | Level 4 | Relative | Daily | Down |
|
| Cover Short | Cover Short | Sell Price | Sell Price | Stop loss |
|
|
|
L.G.BALAKRISHNAN & B | 289.95 | 281.4 | 286.6 | 288.6 | 291.9 | 297.1 | 45.37 | 290.72 | 16-05-12 |
INFRA DEV FINANCE CO | 114.30 | 108.6 | 112.2 | 113.8 | 115.8 | 119.4 | 48.79 | 116.94 | 16-05-12 |
AMBUJA CEMENT | 143.15 | 139.0 | 141.7 | 142.8 | 144.3 | 147.0 | 53.15 | 145.14 | 16-05-12 |
ABG SHIPYARD | 370.45 | 360.3 | 367.3 | 371.2 | 374.3 | 381.3 | 53.97 | 373.47 | 16-05-12 |
MOTHERSON SUMI SYSTE | 165.15 | 152.4 | 161.6 | 167.3 | 170.8 | 180.0 | 55.32 | 168.79 | 16-05-12 |
DLF | 181.55 | 175.5 | 179.7 | 182.1 | 184.0 | 188.2 | 57.57 | 185.78 | 16-05-12 |
BAJAJ FINSE | 709.55 | 666.5 | 697.2 | 715.4 | 727.8 | 758.5 | 62.93 | 716.30 | 16-05-12 |
APOLLO HOSPITALS ENT | 621.75 | 601.3 | 616.2 | 625.6 | 631.2 | 646.1 | 64.61 | 628.81 | 16-05-12 |
VOLTAS | 105.70 | 94.7 | 102.4 | 106.7 | 110.0 | 117.7 | 65.64 | 108.05 | 16-05-12 |
HINDUSTAN UNILEVER | 428.10 | 418.2 | 424.9 | 428.5 | 431.6 | 438.3 | 72.46 | 431.08 | 16-05-12 |
NMDC | 166.40 | 153.4 | 162.7 | 168.2 | 172.0 | 181.3 | 72.68 | 168.39 | 16-05-12 |
I.C.I. INDIA | 838.00 | 800.3 | 828.3 | 846.7 | 856.3 | 884.3 | 76.30 | 841.50 | 16-05-12 |
BHUSHAN STEEL | 434.60 | 423.7 | 431.0 | 434.7 | 438.3 | 445.6 | 82.01 | 437.39 | 16-05-12 |
Today's Buy Recommendation
Scrips | Last Close | Level 1 | Level 2 | Center Point | Level 3 | Level 4 | Relative | Daily | Up |
|
| Stop Loss | Buy Price | Buy Price | Book Profit | Book Profit |
|
|
|
VIDEOCON INDUSTRIES | 171.25 | 160.1 | 167.2 | 170.1 | 174.2 | 181.3 | 79.8 | 169.9 | 16-05-12 |
LUPIN | 540.45 | 512.8 | 532.0 | 542.8 | 551.3 | 570.5 | 58.9 | 537.0 | 16-05-12 |
WHIRLPOOL OF INDIA | 210.05 | 202.6 | 207.3 | 209.1 | 211.9 | 216.6 | 58.0 | 207.9 | 16-05-12 |
MAHINDRA HOLIDAY RES | 275.85 | 267.9 | 273.4 | 276.5 | 278.9 | 284.4 | 56.7 | 273.7 | 16-05-12 |
OPTO CIRCUITS (INDIA | 175.65 | 166.8 | 172.3 | 174.4 | 177.8 | 183.3 | 51.7 | 174.2 | 16-05-12 |
INDIABULLS FIN. SERV | 218.10 | 200.2 | 211.7 | 216.8 | 223.2 | 234.7 | 50.4 | 215.6 | 16-05-12 |
KOTAK MAHINDRA BANK | 551.85 | 514.2 | 538.2 | 548.6 | 562.2 | 586.2 | 49.9 | 548.1 | 16-05-12 |
STERLITE INDUSTRIES | 98.65 | 88.0 | 94.9 | 97.9 | 101.7 | 108.6 | 49.1 | 97.4 | 16-05-12 |
MRF | 10453.00 | 9602.0 | 10132.0 | 10341.0 | 10662.0 | 11192.0 | 48.9 | 10367.8 | 16-05-12 |
POWER GRID CORPORATI | 104.65 | 97.1 | 101.8 | 103.7 | 106.5 | 111.2 | 48.7 | 103.4 | 16-05-12 |
CAIRN INDIA | 319.45 | 295.3 | 311.3 | 319.2 | 327.3 | 343.3 | 48.2 | 315.5 | 16-05-12 |
HERO HONDA MOTORS | 1882.00 | 1803.0 | 1855.0 | 1880.0 | 1907.0 | 1959.0 | 42.0 | 1878.8 | 16-05-12 |
JAIN IRRIGATION SYST | 79.90 | 68.0 | 75.5 | 78.5 | 82.9 | 90.4 | 36.9 | 75.9 | 16-05-12 |
INDIABULL POWER | 12.46 | 10.6 | 11.8 | 12.4 | 13.0 | 14.3 | 36.1 | 12.1 | 16-05-12 |
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