Weekly Outlook

By | November 16, 2008

HI All

Nifty is at very precarious situation at present moment.

Support exists at 2746 and than at 2600 Below that October LOws are only Support visible.

nifty IS POSITIVE ONLY ABOVE 2900 and a Dead Cat bounce can not be ruled out.

Stock Specific

Lanco Infrastructure Stock Plummeted 12% in Fridays Session RSI is in Sell mode.

Sell with a S/L of 152 TGt 133 and 120

Axis Bank is also looking Week Sell with a Stop loss of 515 TGt 450 and 405

Reliance is Looking week on charts support at 1002 and resitance is at 1098 Below 1002 it can test previous Lows.

Relinfra support is at 500 and resitance at 546 can go to 565 and 618 above 546

HDFC: A break below Rs1,350 levels will see the stock entering a fresh
intermediate downtrend for target of Rs1,100-1,000 levels. The
Rs2,000 levels looks like a strong resistance for the stock for the
next few months. Any pullback to the same should be used to exit
any pending long holdings.
Aggressive traders can sell at current levels and on rallies to Rs1,600-
1,620 levels with a stop loss of Rs1,675 for target of Rs1,400-1,425
levels.

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