NIFTY Fut:: 4840 Resistance for the Rally……

 Buy RELIANCE at 750 with TGTs 758-766, Keep SL at 742 Level…Contact:: +91 9227160001

Buy INFY Fut at 2755 Level with TGTs 2775-2825-2895, Keep SL at 2715 Level. Time – 3 Days…. Contact: +91 9227160001

Buy NIFTY Fut at 5010 with TGTs 5035-5065, Keep SL at 4985… Contact: +91 9227160001

Short GOLD at 29100 Level with TGTs 29000-28925 Level, Keep SL at 29150 STRICT…. .. Contact: +91 92271 60001

Momentum Buy ACC Fut at 1230 with TGts 1246-1255, Keep SL at 1218…: +91 9227160001

OBSERVATION:
*  We may observe from attached daily chart of this oil exploration counter that prices are continuously attempting to scale up from the consolidation pattern.

*  The area of 307-08 (upper consolidation area and 200day EMA) has been
acting very crucial, as prices have staged upside breakout of it for second
time.

*  Prices have even surpassed the hurdle of middle bollinger band in previous session.

*  By maintaining dominance for few sessions, positive DMI line has widened afresh yesterday, by forming pivot high above 20 levels.

*  ADX has placed around 12 levels and is attempting to turn up from there.

CONCLUSION:

*  Prices making repeated attempt to stage upside breakout of the area of 307- 08, is a sign of loss of strength of abovementioned resistance.  Eventually that leads to decisive move above that area.

*  Moving below from the middle bollinger band prices clears it and sustains above mid band, has potential target of reaching the upper band.

*  Fresh widening by positive DMI line and also forming pivot highs is an
indication of strengthening of positive swing.

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Source : Investmentguruindia.com

OBSERVATION:

*  Prices of this automobile counter have witnessed sharp profit booking after forming an all time high around 875 in 28.10.11.

*  This down leg has reversed from the low of 682-23.11.11, and pullback was not a convincing one.

*  Though prices have opened above the strong resistance of 200day EMA
around 735, being not able to stay at higher levels in last session, prices
closed below that area.

*  Daily RSI has traveled up from the oversold region of 30 levels and now
facing stiff resistance around crucial 40 levels.

CONCLUSION:

*  After a recent downtrend, if prices not able to give sizable pullback rally with positive range is considered to be a weak pullback and that is going to falter soon.

* The area of 200day EMA acts as a significant long-term support/resistance area. Prices’ declining afresh by hitting the same in last session, reflects some more weakness is on cards.

*  Moving above from the bearish region of below 30 levels, if RSI unable to advance above the crucial 40 levels, it’s a sign of weakening of momentum and that normally leads to sharp decline in prices.

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Source : Investmentguruindia.com

OBSERVATION:

*  Forming a minor high around 902-04.11.11, prices of this oil counter has
declined in the month of Nov’11 and then shifted recently in to minor
consolidation around the low of 750.

*  Though prices have broken put on upside in last session by forming a huge
gap up, but they have not able to sustain above the hurdle of 799 (2×1
ascending angle line (pink line) from the low of 714-26.08.11).

*  They have formed a ‘doji’ pattern in last session around the abovementioned
hurdle of ascending angle line.

CONCLUSION:

*  The area of ascending angle line is significant, as it has produced very good rallies in past from the support of it. Non-sustaining of prices above it, might pull them much lower.

*  Formation of ‘doji’ pattern around the above said hurdles is a sign of lack of strength in bull’s participation. The gain that has happened in last session might end up in loss.

*  After moving up with huge gap up, if prices unable to sustain at higher
ground, it is likely to retrace down and fill the gap in short period.

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Source : Investmentguruindia.com

Delivery Base Buy RELCAP at 308 Level With TGTs 330-342. Keep SL at 300 Level as Close Base…. Contact: +91 9227160001

Momentum Buy WIPRO Fut at 395 Level with TGTs 408.25-419, Keep SL at 388 CLOSE BASE… Contact: +91 9227160001

BHEL witnessed fresh addition of short positions in the last
session. The stock added 24.6% in open interest with a decrease in cost
of carry from -4% to -6.1%. Short positions can be assumed in the stock
below 275 for targets of 265 and 255 levels with a stop loss placed at 281
levels.

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SOURCE: INVESTMENTGURUINDIA.COM

Bajaj Auto witnessed fresh addition of long positions in the
last session. The stock added 12.26% in open interest with an increase in
cost of carry from 0.08% to 9.33%. Long positions can be assumed in the
stock above 1700 for targets of 1750 and 1780 levels with a stop loss
placed at 1670 on a closing basis.

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SOURCE: INVESTMENTGURUINDIA.COM

Delivery Base Buy CENTURYTEX at 270 Level with TGTs 283-296, Keep SL at 261 CLOSE BASE… Contatc: +91 9227160001

Infy: Infy witnessed fresh addition of long positions in the last session. The
stock added 8.49% in open interest with an increase in cost of carry from
5.6% to 8.86%. Long positions can be assumed in the stock at 2645-2650
for targets of 2710 and 2750 levels with a stop loss placed at 2620 levels

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SOURCE: INVESTMENTGURUINDIA.COM