QuickGains

GOOD MORNING.

DEAR FRIENDS,

HANGING ON A ROPE

MARKETS ARE ON TENTERHOOKS. ALMOST READY TO DROP LIKE STONE. WHAT SEEMS LIKE MINOR FALL OF JUST 10 POINTS ON SENSEX IS ACTUALLY MUCH BIGGER. IT WORKS OUT TO A WHOPPING 350 POINTS IN PAST 2 DAYS ONLY. IF YOU CONSIDER THE HIGHS & LOWS FOR THESE DAYS.

WE ADVICE TO BOOK PROFITS AND STAY ASIDE FOR FEW DAYS. LET THE CLEAR TREND EMERGE. SENSEX NEEDS TO CLOSE ABOVE 12490 FOR 3 SESSIONS ON A TROT TO MOVE INTO HIGHER TRAJECTORY. INVESTORS WILL DO WELL TO SIT ON CASH FOR THE TIME BEING.

TODAY, SENSEX WILL FACE RESISTANCE AT 12390. DOWNWARD SUPPORT LEVELS THAT MAYBE ACHIEVED ARE 12265 OR EVEN 12175. WHILE UPSIDE MAJOR RESISTANCE EXISTS AT 12475.

BANKING STOCKS ARE FACING HEAT AFTER A HUGE RUN-UP.

ALLAHABAD BANK - SELL IF FALLS BELOW 85.50. STOCK COULD REACH 83 & 81. POSSIBILITY OF TOUCHING 78 CANNOT BE RULED OUT. TREND COULD GET REVERSED ONLY ABOVE 91.50. ONLY FOR BRAVEHEARTED TRADERS.

BANK OF BARODA - GO SHORT AT HIGHER LEVELS WITH STOPLOSS PLACED AT 287.50 FOR TARGETS OF 274 & 268.

CANARA BANK - GO SHORT AT HIGHER LEVELS UPTO 280 WITH STRICT STOPLOSS PLACED AT 282 FOR TARGET OF 260 IN COMING DAYS.

AUROBINDO PHARMA - WE EXPECT IT TO FALL TO 570 OR 550 IN WORST CASE IF STARTS TRADING BELOW 595.

TAKE CARE!!

BEST REGARDS,
NS FIDAI
DISCLAIMER:
[The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. Author will not be held responsible for any losses, financial or otherwise, incurred.]