Sure Commodity Tips
SENSEX (Close - 18518.80)
Sensex finally ended the 9 days old bearish mode and closed in green with a pullback from Thursday low, which was 18160. We are in over sold zone but we are simply far away from technical strength. Recent sell off will not be easy to be recovered. We must note that this recovery has come due to buttered 'oil and metal' price.
Well, technical support for Sensex will be at 18270 levels itself. There are possibilities of further short covering but mood can be changed any point of time. I am expecting levels of 18750 to 18800 as strong trading resistance. We have seen buying in defensive stocks and sectors, which is not a good sign. Just think; first sell off hit in technology and then banking and then auto. All strong sectors were sold in past few days. This logic cannot be ignored.
Nifty has technical support at 5500. It has a chance of recovery as long as it sustain above 5500 but how long can it sustain? Technical resistance will be at 5630, which will not be easy to cross on higher side. I feel sell off may hit at higher levels again.
INFOSYSTCH (Close - 2893.00)
This stock has broken and sustained below the most crucial support of 2880. Well, on Friday it has recovered a little and moved above 2880 marks. As long as it sustain above 2880 it can be a buy with the same stop loss. Quick entry and exit may give you Rs20 on long side. Weakness will emerge below 2880.
TITAN (Close - 3955.65)
This is amongst the stocks, which has shown better strength in past few trading sessions even when indices were in panic like situation. If the strength sustain then this stock can also be a buy with stop loss at 3920 for a move above 4000. If sudden sell off comes in the market then it can also see some hurt.
RELINFRA (Close - 605.40)
This stock has bounced from 590 levels yesterday while major trading support was at 586 levels.It seems that it may gain in initial hours and may move to 615 levels. It may provide us some initial buy trade opportunity but selling may hit from higher levels.
UNION BANK
Excellent result........
Now time to buy on Intra day Decline only Above...?
UNION BANK
Excellent result........
Now time to buy on Intra day Decline only Above...?
SBI
Strong bounce back from the lower level
Stiff resistance 2700-2750
Reversal to sell side..
IDFC
Over sold counter....
Hold yesterday low ....Sharp move likely
BHEL
Decline to best buy...
Above 2000 up move continue..
JET AIRWAYS
Looks good......
Above 480 target 505-511-540.
AXIS BANK
Above 1250 looks hot
And play for 1300 mark.
