Expect Heavy Slide From Tuesday Post Lunch Session
BSE Sensex: Last week it was mentioned that Sensex will get support at 3840 and after touching a low of 3831 it had flared to a level of 4097 on Friday. Consider this as corrective or relief rally. Chart is indicating that it will breach the level of 3831 and Sensex will slide very heavily in coming days. Traders and investors can expect a bottom around 19th trading day from Monday. For this week the levels of 4015 and 3965 are crucial support level. On upperside Sensex can flare to 4233 or 4270, if it crosses 4132 and 4178. Below 3965 expect allround selling and Sensex can tumble to 3910 or it will break recent low too, hourly chart indicates that heavy selling after first hour of Monday trading or expect it from Tuesday post lunch session.
Hindustan Lever: On going rally from a low of Rs 2035 should be considered as corrective in nature and investors are once again advised to offload their holding on upper levels, in coming days scrip will slide very heavily. All ready it had broken a head and shoulder pattern, so scrip will favour bears only in coming trading session. In coming three trading session scrip will top out and heavy slide will start. Above Rs 2531 expect a non stop rally upto Rs 2640, Rs 2678 or Rs 2740 is also possible. Weekly support exists at Rs 2448 or Rs 2368. Be cautious on upperside, rally looks manipulative that what Bollinger Band indicates.
ITC: Rising wedge and scrip had already broken head and shoulder pattern, on going rally should be considered as best opportunity to exit only. In coming three trading session it will hit a top and heavy slide will start. Buy this stock if decisively crosses Rs 682 then it will face strong resistance at Rs 746 with minor hurdle exists at Rs 713. If breaks Rs 636 then expect a slide upto Rs 600 and thereafter expect fall upto Rs 570. Traders can go short on upper side.
Satyam & DSQ: In the issue dated 15th May, it was clearly written that both these stocks will remain in firm grip of bears for 11 and 14 trading session. For Satyam expected price of Rs 2110 was mentioned and on Friday it closed at Rs 2181. Fibonnaci Count indicates Satyam will hit a bottom on Tuesday if it doesn't closes below Rs 1756. On that particular day. Below Rs 2445 it will favour bears only and if starts trading below Rs 2089 then expect a level of Rs 1775. Downslide in DSQ will continue for another 4 trading session, below Rs 573 scrip can easily slide to Rs 424. Weekly resistance exists at Rs 635. Crossover will take to Rs 651 or Rs 675. Minor support levels are Rs 540 and Rs 495.
BSES: On Thursday it had completed two cycles of 55 and 34 days and top of that day Rs 291 should be considered as major resistance level. For risk free trading buy above Rs 293 but then it will face resistance at Rs 305. Chart indicates that bears will take firm grip on this stock after it breaks Rs 275 then expect a slide to Rs 260 or Rs 251. Be cautious on upper side .
Colgate & Wartsila NSD: Last week Colgate was recommended and traders can see the magic of chart. Three bottom at Rs 135 and heavy accumulation around Rs 145 indicates very explosive rally on card. Decisive break out above Rs 165 will take scrip to Rs 205. Minor resistance for coming three trading session are Rs 173 and Rs 186. Buy this stock on every decline. Weekly support exists at Rs 155 and Rs 152. Investors can start buying Wartsila and traders can catch this stock because its ready to take off. Above Rs 115 it will favour bulls only and scrip can easily zoom to Rs 134 or Rs 145 in coming days. For both these stocks worst is over, take long position in carry forward.
Grasim & ACC: Its perfect upward bar reversal in both these stocks. Above Rs 267 bulls will have upper hand over Grasim. Expect nonstop rally upto Rs 302 or Rs 313. Decisive crossover with high volumes above Rs 313 will take scrip to Rs 348. All these above mention levels will be there on screen by Tuesday itself and thereafter expect heavy selling. If breaks Rs 261 then it can easily slide to Rs 250 or Rs 235. In coming three trading session scrip will hit top and heavy allround selling will start. Box chart indicates above Rs 120, scrip will face resistance at Rs 135, Rs 140 and Rs 155. If starts trading below Rs 120, expect heavy selling.
Vikas WSP: Investors can start buying and traders can catch this hot looking scrip. From a high of Rs 1539 it had fallen to Rs 247. Fibonacci count indicates that worst is over, consider Rs 240 as rock bottom. Box chart indicates above Rs 276 scrip will non stop flare upto Rs 364, Rs 393 or Rs 480 in coming days.
Hot & Spicy: It looks like something is cooking in agro stocks that is what chart is indicating or its due to good monsoon for 13th year in a row, traders can catch REI Agro, Sentil Agro and Rashel Agro. Any decline should be considered as best opportunity to buy.