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Market will be volatile. Rajesh V suggests L&T and HUL

By Rajesh V
|

Market will be volatile. Rajesh V suggests L&T and HUL
Nifty Future - Nifty)

World market and also Asian market closed in red yesterday with more than 1% change. We can expect this to reflect in Indian market also. Therefore, a very high volatile market will not be surprising. Over the last three days we have moved in the range of more than 100 points.

 

Nifty today levels:
supports – 5585 / 5566 / 5534
resistances – 5648 / 5668 / 5700

Bank Nifty Futures - Bank Nifty)

Most of bank stocks are in the red. This includes Axis Bank which has fallen 3.25% and the State bank of India, which fell 1.75%.

Bank Nifty levels
supports - 11070 / 11020 / 10960
resistances – 11210 / 11255

As SGX is trading -75 points we can also expect nearby gap down opening on Nifty. if Camarilla 3rd low supports then only can we expect a pull back in intraday.

Stock Market is having a wild market behavior at this stage, it is advisable to reduce your intraday volume.

Intraday calls

Hindustan Unilever futures (Cash segment price is available here)
Sell below at Rs 332
Stop loss at Rs 335.20
Target price of Rs 328

Larsen & Toubro
Sell below Rs 1,822.50
Stop loss at Rs 1,840
Target price of Rs 1,800

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.www.goodreturns.in

If you would also like to contribute or send us a feedback, then e-mail to money@oneindia.co.in

 

OneIndia Money DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Story first published: Tuesday, July 12, 2011, 9:30 [IST]
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