Techincal Analysis:Jubilant Food,SBI,BF Utility and Sintex

By | November 17, 2011

Nifty after long time made wild and volatile swings accompanied by Heavy volumes. Yesterday 5.54 Lakhs contract were traded in NF and maximum volume came in last half hour where Nifty made a move of 130 points (50 points down and 80 points up) in matter of 30 mins.

The whole game was played by FII as they bought 109703 contacts on Buy side and 142367 contracts on Sell side. These are heavy volumes not seen in recent past.

If one analyses the tick volume data closely 74K contracts got traded at 5055 and 20K contracts were traded at 4999 levels which means resistance for today comes at 5055 and support at 4999.

My advise to all try to trade in low volumes and use trailing stop loss in all your position looking at wild swing coming in Nifty.

For investors this is one of golden time to deploy cash for long term basis, Do not look at day to day moves but the mid caps crashing at such an attractive levels its a good time to buy Stocks like Sintex,VIP,Confidence Petroleum.

Few Stock trading ideas

BF Utility

Range bound trade between 400 and 50. Stock showed a reversal pattern yesterday by closing above previous day high. Traders favorite and highly volatile stock .

Buy above 443 Tgt 454 and 469

Sell below 414 Tgt 402 and 391


 

SBI

SBI took resistance at its trendline resistance at 1780 but stock has shown reversal pattern after almost 300 Point fall.

Buy above 1780 Tgt 1800,1816 and 1840

Jubilant Food

Jubilant food again bounced from 200 DMA @745 last time it bounced from 200 DMA it made a rally of 40% and lower top of 925,this time its faces trendline resistance at  815.Volumes were average even if it jumped 5% yesterday which means move was based on short covering.

Buy above 785 Tgt 803,815 and 838

Sell below 750 Tgt 715,696 and 661

Sintex Limited

Sintex has crashed from 237 levels to low of Rs 90. Stock is falling like 9 pins Long term support comes at 76 odd levels. Deploy 20% of cash in range of 76-86 if and when it comes.

Buy when there is blood on Streets.

One thought on “Techincal Analysis:Jubilant Food,SBI,BF Utility and Sintex

  1. c.k.chandrasekar

    Sir, I bought one lot of M & M at 797 in the current series. May you plese guide me with its technical Resistant and Support levels.

    Thanking you very much

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