Nifty
Nifty has closed in a high resistance zone. 4445 is the first resistance of nifty for the coming week and second resistance is placed quite close at 4490.
On the support side, 4290 and 4250 should offer good supports below which nifty can fall to this weeks low of 4155.
Sultance of Stocks - Reliance
As i had writen last week, RIL came under huge bear attack.
For this week resistances for RIL are placed at 2065 and 2100 while strong support exists at 1955 below which RIL can test long term support of 1875.
King of Banks - SBIN
As i had writen last week, SBIN went into a small trading range.
This week SBIN will have resistances at 1785 and 1820 while supports exist and 1710, 1655.
New Kid on the Block - L&T
Due to new float rule, L&T takes the spot of ONGC in my weekly analysis. Hope readers will appreciate this change.
L&T will have huge resistance at 1640 and 1670. Inability to trade above first resistance level will mean L&T getting a bear attack to support levels of
1600, 1570 and 1540
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