Technical View:: Nifty, Suzlon & Maruti Suzuki

Quotes with Resistance & Support

Market Information

Technical View:: Nifty, Suzlon & Maruti Suzuki

Posted on: January 27th, 2013 at 12:49 pm

Click on the chart to enlarge.

Nifty: Nifty is in an uptrend since June’ 12. Recently has been trading in a 100 point range since one month. If global markets support, nifty could head upto 6150 in coming days. On the upside faces resistance at 6150-6180 levels. Has good support at 5990 & 5950. Below 5950 could test 5880.

nifty1

Suzlon: Suzlon recently managed to close above major reistsance of 20.50-20.80 levels. Since June’ 12 it was unable to cross this level. Recenlty was moving in the 17.50-20 range since quite some time. If continues to trade above 21 on Monday after opening, one can enter it for short term for a target of 24-25. Good support near 19.50-20

suzlon

Maruti Suzuki: Technically Maruti is in an uptrend. One can enter it on dips near 1550 for a target of 1650 in near term. Has strong support at 1450-1480 levels.

maruti-suzuki

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9 Responses

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bazinga Says:
January 27th, 2013
Posted at: 9:26 pm
hi cb for intraday hcl tech pls advise
CB Says:
January 28th, 2013
Posted at: 8:30 am
Hi bazinga, it can see 688-690. sl near 676
srinivas reddy Says:
February 4th, 2013
Posted at: 2:01 pm
can i hold geodesic bought [email protected]
CB Says:
February 5th, 2013
Posted at: 3:09 am
Hi srinivas reddy, yes, its a hold. possible see a bounce upto 22-24 in near term. exit on rise/ cost to cost for now.
Hemant Says:
February 8th, 2013
Posted at: 2:56 pm
Hi CB,
What is your call on Nifty please?
CB Says:
February 9th, 2013
Posted at: 9:49 pm
Hi Hemant, seems can test 5850 in coming days.
Maulik Patel Says:
February 13th, 2013
Posted at: 5:53 pm
Sun Pharma 1-2 yr; Reliance Ind 1-2 yr, HUL or ITC 1-2 yr
CB Says:
February 13th, 2013
Posted at: 5:54 pm
Hi Maulik Patel, these are fundamentally strong bets. can accumulate on dips for long term. can add 40-50%
Rethish Varma Says:
February 14th, 2013
Posted at: 4:06 pm
Whether it is 5800 or is it 5600?
Technical Outlook
Technically from the charts, we can see that the markets are now clearly in a downward path. If we follow the trend line support for the last 9 to 10 months, it is clear that Nifty has breached its trend line support and that is suggesting that we could witness a technical correction before or after budget. What we saw on Nifty was a run up from 4700 levels all the way towards 6100, so a technical correction to a level of 38.2 percent Fibonacci retracement or a 50 percent retracement is inevitable. If the budget comes out to be a populist one, then we could take support around 5800 and from there will resume its next leg of uptrend which can take it to 6180 to 6300 plus levels. But if budget fails then we will breach 5800 and head towards the 50 percent Fibonacci retracement level of 5600 which is also the Nifty’s 200 Day EMA.
So what I would like to advise investors is to make a more cautious approach towards investing in markets, don’t go in for a hurry, be a patient investor and invest partly at 5800 levels and the next at 5600 levels.