Sensex Drifting To 3830 Levels

After hiting a higher bottom at 3912, the Sensex deceptively spurt to a lucrtive level of 4350 from which its dropped lower to a level of 4078 on Friday. Bears will have an upper hand till such time as the index reaches the 3830 levels. At this point, a sharp correction may start.

The sensex had given a closing below 4110 level which was critical. Below 4050 ti can go down to leve of 3850. The market will consolidate at this level and then trade in a range of 3850 to 4200.

* Zee Telefilms: Last week it had formed a high of Rs 542 from which it has gone down to level of Rs 469 on Friday. Below Rs 478, it can tumble to Rs 427 lvel, traders an buy on every decline, abve Rs 555 the scrip will hae real strength.

 

* HDFC: After may weeks, the scrip has breached a level of Rs 474 to close at Rs 485. It is really hot buy for traders as well as investor. It may breach previous high of Rs 502 and then expect an upper level at Rs 540 or Rs 576.

* ITC: Above Rs 578, the scrip's technicals indicate a buy only. If it closes above Rs 625 level, then on the upper side it can flare up to Rs 675 level.

* HPCL: On the upper side, it had gone up to Rs 140 level. If it closes above Rs 135 level, expect a price of Rs 152. Above Rs 155 level, it can go up to Rs 169 level.

* Infosys: On Friday, it had given a close below a crucial support level of Rs 6,600. Below this level it may break a previous low of Rs 6,190.

* Sun Pharma: Above Rs 465, it is good buy with technicals indicating a one side movement up to Rs 545 level.

* Apollo Tyres: It has given a close of Rs 86, but will face the first resistance at Rs 98. if it closes above this level, then the scrip may move up to Rs 140.

* SSI: Once again, it has reversed from the Rs 2145 level which looks liek the lat bottom. Above the Rs 2450 level, it can flare up to 2,750.