The nifty trade as we suggested last week, for the week the nifty has very good opportunity for buying side for the week, trader can go for buying at 6115 average at 6080 for the target of 6240 above that the target of 6300. but index can show sort term sell also at the level of 6250-6270 so be aware at that level, otherwise the sentiments are bullish on index.
RANBAXY SELL 607-608 STOP LOSS 614 @TARGET 600 @TARGET 588
VIDEOCON IND SELL BELOW 220 STOP LOSS 222.5 @TARGET 216.5 @TARGET 213.5
ABGSHIP SELL 415 STOP LOSS 420 @TARGET 399 @TARGET 390
RELIANCE BUY 1083 STOP LOSS 1075 @TARGET 1094 @TARGET 1100
BHARTI AIRTEL BUY 354 STOP LOSS 350 @TARGET 359 @TARGET 363
Elliot wave B is seems to complete here - wave C starts soon. monthly Resistance level of 11724 was broken on 31-Dec coming days the possible target of the breakout will be 12256.
RELIANCE: maintain the long Position with the stop loss of 1045. the possible target will be 1180. or 1240 There is strong consolidation here, so watch the near term target 1180.
TATA MOTORS: A divergence in the MACD indicator has been found. this could be a sign of exhaustion. The current upward trend may soon correct or end . watch out in near days 1310 level if it can not break the level strongly then short around there the target may be the 1250 again.
M&M: On 31-Dec Resistance level of 778.0500 was broken. When the monthly pivot point is broken - look for a possible rise to the monthly R1 815
TATA STEEL : On 31-Dec it break Resistance level of 683 was broken. the possible target 719-730.
HINDALCO: Above 244 it can touch the 260 level also, above 260 a new break out can match the 319 level so wait for the break out.
STERLITE: Double bottom formation can touch the 190 target so keep the position, match the target wait for the break out or short at 190 with stop loss of 194.
RCOM: The strong volume from last days pulled the stock at 144, the consolidation may pull the stock at 155-170 again.
SBIN: The counter now, at 2800 level above that it can touch the 3050 again.
ICICI BANK: The stock now at 1143 showing buying momentum and touch the 1180 level again.
AXIS BANK: ready for buying the momentum can pulled the counter at 1400-1450 again.
PNB: A consolidation looking here, the 1245 level looking here a resistance, short the counter at 1245 with the stop loss of 1260 target can be 1170 in coming days.
IDFC: closed above the 179, may reach at 191 again.
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