Thursday, July 5, 2012

NEXT RESISTANCE ZONE 17800

i will like to draw attention about some technical nos.
if we consider last intermediate tops and bottoms made, we made last intermediate bottom of 15748 , before that we made intermediate top of 18524. we have seen apprx 75% retracement since top of 21109 no of times . 75% retracement zone comes around 17830. more over if we draw a trendline connecting tops of 21109 and 18524 next resistance zone comes around 17800.

we have closed above 17500 today.so i feel gradually we should book some profits and generate cash levels when we are near 17800.equivalent zone in nifty may be around 5400.......


STOCKS LOOKING GOOD FOR SHORT TERM

ASHOK LEYLAND CMP 25.25,  STOP LOSS CLOSE BELOW 24.00
ALOK IND CMP 18.3,  STOP LOSS CLOSE BELOW 17.50
SCHNEIDER ELECTRIC INFRASTRUCTURE LTD. CMP 82.5 stop loss close below 72.00