18-3-2011: Will the market changes its direction or not???

Hi All,


From last 10 days, market is up today and market is down tomorrow, when it will break this chain? 1-2% up or down which means market is range bound, with a range of 5410 to 5564. Any of the level break will give a good gain from the market. Till that point of time we have to wait for good breakout, no one will predict, when we will get breakout, may be tomorrow we will get the breakout, either side breakout will give us approximately 200 points gain. Looking at chart, it may give us upside move.


Higher Top and Higher Bottom indicates that market is up. Tomorrow market may open slightly on positive note, it will move up gradually. Looking at US and European markets they are 1.5% up today, which will boost our market up.

Pivot Levels:
P: 5464 
R1,R2,R3: 5493 - 5539 - 5567
S1,S2,S3: 5417 - 5389 - 5343

Technical Supports: 5435 - 5420 - 5373
Technical Resist: 5510 - 5535 - 5563


Intra-day Stocks:

1. Action Fin: Long Position
2. ALBK: Long Position
3. Bhel: Long Position
4.  Indian Bank: Long Position
5. Patel Eng: Long Position
6. HDFC: Short Position
7. Cinemax Ind: Long Position 

F & O Stocks:

1.  AmbujaCem: Long Position
2. Apollo tyre: Short position
3. Cromp greaves: Long Position
4. SBIN: Long Position
5. Idea: Long Position 

Delivery Stocks:

1. Bhel: Medium Term Hold
2. Cranes Soft: Short Term Hold
3. Neuclear Soft: Short Term Hold 
   

If you have any query please get in touch with me.

Sincerely,

Anagha Bhave

[Technical Analyst]

Precise Analysis Pvt Ltd.

Flat No: 7, 2^nd Floor, Indraprastha Apt, Near Ambar Hall,

Mayur Colony, Kothrud, Pune 411038

Anagha@preciseanalysis.com; Anagha@aabhineeshsolutions.com