Thursday, November 18, 2010

Technical view for19th nov 2010

Nifty was very volatile today, it has breached our support 5970-5940 but came back strongly and closed at 6031.60. In intraday it has tested strong resistance 6060 and made day high at 6057. We can have buy call on Nifty if it open above 6060 and stay above this level for first 30 min in early trade, we must keep stop loss below 6018. Target for Nifty will be 6140-6148 in next few days.

CIPLA has achieved our target 350, we had given this call in last week and Bharti has moved positive up by more than 4% and closed at near 325, our call for buy Bharti above 315 which has initiated today only. Target for Bharti is 340.

Ambujacem showing reversal signal, one can buy this stock around 150-153 for target of 165, stop loss will be below 148.

Maruti can be buy at 1435-1445 with stop loss below 1430, target is 1470-1495 in short term.

Auropharma and Jswsteel also looks good on chart and can be buy for target 1350 and 1365 respectively, stop loss will be 1250 for Auropharma and 1270 for Jswsteel.

Have nice trading day ahead!!!


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