In our last post we gave nifty buy at 5370 with sl 5312 for the tgt of 5688 we r still intact with our tgt and upgrade our tgt to 6022 that too within september . Nifty can face some resistances at 5555 and 5688.
stocks to watchout for:
1. Tata Motors:tata motors if holds 950 on closing basis can touch 1260–1388
2. Reliance industry: one can buy ril on every dips as good supports at 950–930 for the tgt of 995—1020–1072
3. Tata steel:Tisco is a pure buy on every dips for the tgt of 525–552—599
4. Ranbaxy: buy was given at 440 did tgt at 500 now again a buy as long as it is trading above 460 those still holding can use tsl in profits.
5.Sbin: It is a mad bull stock we gave its buy at 2500 did 2850 after that now tsl is 2720 for 2900-2972-3050-3300
Jet set go September !!
Nifty spot having resistance at 5488 once it manage to get close above 5488 then it can be said bullish for the targets of 5525—5620—5732.
Supports for the nifty spot at 5412–5388.
stocks to watch:
1 TATA STEEL resistance at 556 close above 556 will take it to 600+
2 SBIN resistance at 2682 close above will take it to 2802
3 RELIANCE INDUSTRY buy on dips
4 DLF tsl now at 305
5 HINDALCO close above 168 will tgt 175
6 TATA MOTORS TSL now at 912
As said that if nifty spot holds 5402 can do 5472 and it did the same.now next resistance zone for nifty spot is around 5520–5552.Close above 5552 nifty spot can do 5620—5688—5720.
NIFTY SPOT LEVELS FOR 05-08-2010
Support at 5420–5392
Resistance at 5520—5552
SENSEX resistance at 18350–18436
STOCK TO WATCH:
Tata steel resistance at 552
Ril resistance at 1032 but if holds 1006 can do 1027–1032 intra
Hindalco above 167 can do 172
Dlf bullish only above 312
Idfc looks good only above 188
MRPL support at 75
WIPRO tsl now 418 from sl of 404 call given at 410
Nifty is in the range of 5350-5450 from last 18-20 trading sessions.It seems that Nifty is ready to make a move now.Nifty has a solid resistance at 5472(Spot) above this expect 5525–5550 in nifty spot. close above 5552 can take NIFTY SPOT to 5700+.
Nifty Spot levels for 04–08–2010:
SENSEX 3 close above 18400 will take it to 19800—20800.
Stocks to Watch:
Ril can do 1045–1060 abv 1036
SBIN ABV 2622 CAN DO 2672
Tisco resistance 561
HINDALCO if HOLDS 162 Can Do 170—172
DLF Supports at 299–292