TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES
*TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES*
*: 13th September 2007*
*Market may open with a firm note and expected to test key resistance levels.*
*SENSEX (15502)*
The Sensex has immediate resistance at 15556 and 15570 levels. If moves above, it could test 15630 and 15661 levels. Further, if moves above, it could test 15700. Sensex has immediate support at 15486 and 15462 levels.
*NIFTY (4497)*
The Nifty has immediate resistance at 4505 and 4516 levels. If moves above, it could test 4535 and 4550. Support for the Nifty will be at 4487 and 4485 levels. If moves below, it could test 4452.
*RELIANCE INDUSTRIES (2012)*
The stock has resistance at 2018, if moves up, it can test 2025 and thereafter expect a fair price of 2040 and more. Support at 2003. (Buy at declines)
*UNITECH (262)*
The stock has support at 255 and 252. Minor resistance at 267, if moves up, it can test 284 and 299. (Buy for delivery)
*SHOBHA DEVELOPERS (752)*
The stock is getting continuous support at 750 and 742 levels. Buy can be considered at lower levels. Resistance at 762, above it can test 768 and expect sharp upside.
*SAIL (174.60)*
The stock has support at 171 and 168. Buy at declines. Immediate resistance at 176.50, if moves up, it can test 182 and 186.
*HAVELLS (511)*
The stock is facing continuous resistance at 519, if trades above, it can test 537.50 and 541.75. Above, further upside is likely. Support at 505 and 502.
*DERIVATIVES STRATEGIES *
*SBI OUTLOOK POSITIVE, BUY ABOVE 1635.*
*RELIANCE INDUSTRIES OUTLOOK POSITIVE, BUY ABOVE 2022.*
*Disclaimer: *The information contained here was gathered from sources deemed reliable; however, no claim is made as to its accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading stocks and stocks options and you should carefully consider your financial position before making any trades. This is not, nor is it intended to be, a complete study of chart patterns or technical analysis and should not be deemed as such. GEOJIT FINANCIAL SERVICES does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of investors without any liability on GEOJIT FINANCIAL SERVICES whatsoever. Stock trading involves high risks and you can lose a significant amount of money.
*RESEARCH WING*
*ALEX K MATHEWS **alex@geojit.com*
*GEOJIT FINANCIAL SERVICES LTD, KERALA*
