Today Recommansation

TCS

Recommendation:
Buy at / above: 1190.25   Targets: 1198.29 - 1206.95 - 1215.65 - 1224.38
Stoploss : 1181.64
Sell at / below: 1181.64   Targets: 1173.64 - 1165.09 - 1156.57 - 1148.08
Stoploss : 1190.25


ONGC


Recommendation:
Buy at / above: 268.14   Targets: 272.11 - 276.25 - 280.42 - 284.62
Stoploss : 264.06
Sell at / below: 264.06   Targets: 260.14 - 256.12 - 252.14 - 248.18
Stoploss : 268.14

Day Trading Guide

June 13, 2011:  

DLF

Experiencing selling pressure DLF fell 1.8 per cent on Friday. Fresh short position can be initiated if the stock slips below Rs 226 levels with tight stop-loss.

ICICI Bank

Fresh short position can be initiated if the stock fails to move beyond Rs 1050 levels with stiff stop-loss.

Infosys

We recommend a buy in Infosys with stiff stop-loss at Rs 2843 levels.

L&T

Initiate fresh long position if the counter reverses higher from Rs 1679 levels with tight stop-loss.

ONGC

Initiate fresh long position if ONGC advances beyond Rs 270 levels with stiff stop-loss.

Reliance Industries

Fresh short position can be initiated of the stock dives below Rs 932 levels with stiff stop-loss.

SBI

Initiate fresh long position only if SBI rebounds from Rs 2220 levels with tight stop-loss.

Tata Motors

Utilise dips to buy the stock while maintaining fixed stop-loss at Rs 1010 levels.

Tata Steel

The near-term outlook is bearish for the stock. Make use of rallies to sell the stock with tight stop-loss at Rs 577 levels.

Nifty Futures

Fresh short position can be initiated if Nifty futures declines below 5450 levels with stiff stop-loss.

Disappointed salesman

If there is one word you find coming like a bomb from the Upnishads, bursting like a bomb-shell upon masses of ignorance, it is the word,FEARLESSNESS. Swami Vivekananda   http://www.youtube.com/watch?v=7GpsHpP2L5E

Nifty Weekend update

Nifty Weekend update

• Stochastic indicator shows possibility of an extended correction.
• But there are multiple bullish possibilities which will happen only if 5440 - 5480 level is protected on closing basis. Otherwise the recent lows may get tested again.
• Price had no drastic change last week But closing below 5500 will give comfort for bears.
• A Gap down on Monday may give a buying opportunity.

SBI Analysis

SBI Analysis

• SBI Weekly chart shows price taking support at 50% Fib level for the rise from 880 - 3515.
• So more bad news only if 50% and the low gets broken again.
• 20 DMA is resisting and stochastic is showing a sell which may take the stock to the recent low. In all likelihood price is in the process of forming a bottom around the recent low. 
• But one should watch out for a possible break below the recent low then the stock may fall again.

Subject:: The real KILLER - This will scare U

today market

Markets remained lackluster on Thursday trading
session while trading in narrow band of 5,500-
5,540 to finally close in marginally negative
terrain. We expect clear cut direction to emerge on
breakout of trading band of 5,490-5,570.

Support/Resistance levels

                              Close           Support             Resistance
Nifty                      5,521            5,490                 5,570
Sensex                   18,385          18,130              18,590

ONGC (SELL, below Rs266, Target Rs256):
The recent pullback in ONGC from the low of Rs261
has fizzled out near its 100-DMA (Rs286), as we
saw a sharp cut this week. In yesterday’s session
the stock fell by 2%, suggesting continuation of
the downtrend. On the daily chart, the stock has
been forming the pattern of lower high and lower
lows since last week. A breakdown in rising
channel implies that downtrend in the counter is
likely to prevail in the coming days. We advise
going short on ONGC June Futures below
Rs266 with stop loss of Rs271 for Target of
Rs256.