Monday, June 20, 2011

Analysis for 20th June, 2011

Nifty is not looking very promising and some pull back is definitely on the cards this week but unless 5550 is taken out decisively sell in rallies would be the best option available.

ACC in rallies use 1000 as stop to sell for 860
Ashok Ley stop 51 sell for 45
BOI below 406 stop 414 sell for 390
BPCL first target of 640 nearly achieved. Keep stop of 620 and hold for 655
HDFC complete profit booked in shorts as our target of 635 has been achieved. In rallies use 680 as stop to go short for target of 560
Hindalco 170 could not hold. Now 162
ICICI Bank in rallies use 1060 as stop to sell for 1000-980
IDBI increase stop to 128
IOB increase target to 158-164
Jet profit booked
Kotak 430 continues to be a rock solid support and stop
LIC Hsg increase stop to 224 and target remains 235
Lupin below 440 sell for 430 stop 445
Mphasis target remains 440-430
Raymond book partial profits in shorts. Target remains 370
TCS profit booked in shorts
Tata Motors avoid shorting as some upward movement is due
Tata STeel stop 560 buy above 575 for 600
Wipro stop 400 buy for 430
BHushan Steel above 424 stop 418 buy for 440
Punj same stop 64 and target 78

Happy Trading!!!

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