Monday, November 28, 2011

495 /- is crucial for beml ..just wait...watch and trade accordingly ...

Today we advised to sell Beml ...
its eod chart is indicating that scrip is caught in cluster of moving averages ..
closed at 497.50 ... upside resistances/targets  are  510  527 555 as per fib level
495 is crucial  for beml tomorrow....
below 495  it may  see 481 461 435 407
low volume at 500 level is indicating that traders are not interested in it...and having supply zone above 500 level
please see at eod chart ...
Hourly chart is indicating that, it is trading well below of resistance level ...and selling increased when Nifty was moving up  ...levels 480  471  462  433
it has broken raising trend line( imaginary )

Sudden drop in futures trade is indicating that it will not sustain at higher levels...
trade with strict stop loss in either side of trades ...495 is crucial  for tomorrow....

DATEOPENHIGHLOWCLOSECONTS.OPENINTC'O'INTCOST
Rs.
EQCLOSE
Tue-08/11/2011553.25556.85553.2553.3541,0001,000276675.0548.05
Wed-09/11/2011554.0554.0553.0553.022,0001,000276500.0538.35
Fri-11/11/2011535.0539.7532.9534.6595,5003,500267325.0528.3
Mon-14/11/2011542.0542.0521.0524.0128,0002,500262000.0520.75
Tue-15/11/2011523.0523.0500.0501.2711,5003,500250600.0499.9
Wed-16/11/2011500.0500.0495.0495.0312,5001,000247500.0487.35
Thu-17/11/2011496.0499.8489.25495.91216,0003,500247950.0494.15
Fri-18/11/2011487.15501.6484.75489.151421,5005,500244575.0488.25
Mon-21/11/2011493.45493.45477.0478.552329,5008,000239275.0482.95
Tue-22/11/2011480.0486.3472.0478.4512867,00037,500239225.0472.85
Wed-23/11/2011464.5467.2435.05449.517680,50013,500224750.0449.05
Thu-24/11/2011442.0472.5439.4467.8243139,50059,000233900.0462.2
Fri-25/11/2011463.05491.6463.05487.5251141,5002,000243750.0484.0
Mon-28/11/2011494.55509.95493.0501.8165149,0007,500250900.0497.5

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