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Monday, March 7, 2011

8-3-2011: What will be the market Today?

Hi All,

What will be the market today? lets check out the chart, chart has made down side window's Gap pattern, which is a sign of bullish, and market will fill this gap may be in coming few days!!!!

Why yesterday was Gap down Opening? There were Key reversal pattern at top for index on friday, which suggest market is going to go down, accordingly it falls, but is has taken trendline support, so, it may not fall further, like it may again touch 5391 level, but if index manages to remain below 5391, then bear will enjoy a free fall in the market.

Last Tuesday, index has given Inverted H & S breakout with a target of 5960 in next 20 days, considering this market may not fall below 5391.

Today market will remain dicey with both side gain.

Pivot Level:
P: 5454
R1,R2,R3: 5500 - 5537 - 5582
S1,S2,S3: 5417 - 5371 - 5334

Technical Resist: 5491 - 5524 - 5586
Technical Support: 5408 - 5382 - 5330 

Intra-day Stocks:
1. Aban: Long Position
2. Ahlcon, 524448: Long Position 
3. AdityaBirla: Short Position
4. Ansal Housing: Short Position

F & O Stocks:
1. Adani Power: Long Position
2. Ahokley: Put Option buy 50

Delivery Stocks:
1. Aban: Short term hold with a target of 702.
2. Jyothi Lab: Short Term Hold with a target of 277
3. Nocil: Short Term Hold
4. Walchandnagar: Short Term Hold with a target of 184 

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

Anagha Bhave

[Technical Analyst]

Precise Analysis Pvt Ltd.
7, 2nd Floor, Indraprastha Apt, Near Ambar Hall,
Mayur Colony, Kothrud, Pune 411038

99 22 944 434 

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