Sun, 03rd Apr

Year 2010-2011 have been very good for some and bad for some. Indian equity have been very good at the start of the year but in the latter half gave many scars to many investors. Nifty at the start of the year was at 5200 levels and in month of Nov made a high above 6300 levels, but could not break its all time high and corrected.

Its seems that the Equity market too realized it that it’s a April Fools day.. Sensex too ended at 19420 levels. Is its just a coincidence. (420).

Nifty in the past few session have just been in the uptrend and corrected a bit on the last day of the trading session of the weak. On the last day of the trading session Nifty ended 5826 levels.

On the first day of the trading weak, nifty closed above its 200DMA and the rally continued. On Wednesday Nifty opened above its 100DMA. Nifty corrected after facing stiff resistance at 5855 levels. Sensex closed down 25 points at 19420 levels. After a10 days winning streak, nifty corrected 8 points after facing resistance at 5855 levels.

From the new Fibonacci Theory levels from 6338 to 5177 levels. Nifty after its 23.6% bounce back continued its rally till cross over almost 50%. Nifty if corrects will find support at 5742 levels i.e. 50% retracement levels. Nifty will face stiff resistance at 5907 levels.

Last weeks call

Buy Allahabad bank above 221 SL 219. Made a high of 239.

Buy Areva with a SL of 242. Made a high of 255.8

Buy Axisbank close above 1377 SL 1370. Made a high of 1443

Buy BOB close above 933. Made a high of 974

Buy Brfl close above 267. SL Triggered

Buy Educomp with a SL 417. Made a high of 437

Buy Fintech close above 774. Made a high of 911

Buy Sbi above 2728. SL 2717. Made a high of 2888.

Call given on Friday on personal blog

www.technicalsvishaldangaich@blogspot.com with charts.

To Buy Suzlon & Buy

PunjLloyd

SUZLON: Suzlon have been underperforming the Index since quite a some time. But in the last 2 trading sessions it seems that the stock may bottom out at current levels. Close above Rs.45 levels may prove to be positive for the stock. Suzlon will face resistance at 46.35 -46.50 levels. Close above the same can take the stock to 50.50 levels in short term with some stops at 48.00 to 49.00. Volumes have rising since last 2 days. Close above the Diagonal trendline can make the stock move upward. Suzlon can be bought a current levels with SL of 43.50.

PUNJLLYOD

PunjLloyd seems to be at the end of its downtrend. In the recent past the stock have made a low of 58.30. In start of 2009 also, the stock have bounced back from almost these levels and made a high almost 300. The stock have bounced back from its over sold zone. RSI is trending upwards. One can buy with a strict SL of 62. Buy when it closes above 67. Irrespective of company’s performance, the stock is doing good on the brousers. Short term Tgt 70 -72 -77.

This weeks call

Sell Asian paint below 2507 SL 2520.

Buy Bhel above 2127 tgt 2145-2154.

Buy Cairn above 356 SL 354.

Buy Siemens above 885 SL 876.

Sell Sbi below 2705 SL 2719.