Sensex: We said, "Watch if failure
to trade above Friday leads to a negative close ..." The index failed to
trade above Friday and turned weak to finish 173 points or 0.8% lowers for the
day. Pharma, IT, power, and auto and capital goods indices lost 1-1.5% each.
The Small Cap Index
ended flat but the A/D ratio turned negative and finished at 1:2.
The action formed the
biggest Bear candle of last 10 days, the low of which is testing the lower Grey
channel as drawn. Holding the Grey channel can be positive. However, weakness
and close below the candle would establish the two-day high and 80% retracement
level to the preceding fall, both at 21141, as crucial resistance on the
upside.
1. Sell Nifty Mar
Future in range of 6270-6275
2. Buy Tech Mahindra
above 1915.00
3. Buy Titan Company
above 251.00
4. Sell DLF Limited
below 137.20
5. Sell Indusind Bank
below 393.00
*All Recommendations
are of Mar Future
CNX Nifty (Cash Levels) Technical
Nifty Intraday Short
Term
Support 6190-6160 6000
Resistance 6260-6295
6360
20 Days EMA 6156
200 days EMA 6020
Nifty Future Recommendations
CMP: 6239.45
Comment: Future
premium increased from 12 points to 18. Testing lower end of the Green channel shown.
Reverse if holds 6260-70
Action: Sell in the
range of 6270-6275
Targets:
6240/6220/Lower
Stop-loss: 6290.00
Tech Mahindra (TECMAH) Mar Future
CMP: 1912.90
Comment: Price
sustaining above the trend line breakout area and taking support at the 21 days
EMA in the daily chart and MACD giving buy signal in the daily chart
Action: Buy above
1915.00
Targets:
1942/1955/Higher
Stop-loss: 1900.00
Titan Company (TITIND) Mar Future
CMP: 250.60
Comment: Price trading
in an upward rising channel and sustaining above 200 days EMA in the daily chart
Action: Buy above
251.00
Targets:
256/258.50/Higher
Stop-loss: 248.50
DLF Limited (DLFLIM) Mar Future
CMP: 137.90
Comment: Price taking
resistance at the 50% retracement of the previous decline and 34 days EMA in
the daily chart and 14 periods RSI giving sell signal in the daily chart
Action: Sell below
137.20
Targets:
134.40/133/Lower
Stop-loss: 138.60
IndusInd Bank (INDBA) Mar Future
CMP: 394.05
Comment: Rising
channel breakdown in the daily chart and taking resistance from 55 days EMA and
Stochastic giving sell signal in the daily chart
Action: Sell below
393.00
Targets: 387/384/Lower
Stop-loss: 396.40
• WTI Crude Oil April expiry is trading on a strong note - up almost 2 percent at $ 48.59 a barrel.
ReplyDelete• Brent Oil May future has also jumped 1.5 percent at $ 51.68.
Crude Intraday Tips