FRIDAY, JANUARY 23, 2009

PRESSURE AND VOLATILITY MAY CONTINUE, RESULT SEASON

Sensex Technical View :

Yet another day of no major move on the index but the broad market continued to remain under pressure. The down trend continues to remain with resistance for upmoves arnd 9100 and support at 8300-8500 in short term. 


Stocks to watchout for :

Hindalco, Rcap gave trading opportunities. SAIL and Sesa stayed stagnant but still look weak. 


Larsen n Toubro 

The stock has come very close to the 660 zone and sustaining close below this level would mean a breakdown and could target 600-550 -450 also technically. would prefer to wait to see it over next few session for confirmatory moves. 

Reliance Inds 

I would focus on tech here as thats all i know :) ... Technically resistance on upmoves 1185 /1230/1285 and downside 1060/1020. This remains the range for the stock in short term.