DAILY ANALYSIS - 15th December 2011

TATA CONSULTANCY SERVICES -

R2   -   1198.83 

R1   -   1189.67 

PP   -   1179.83

S1   -   1170.67

S2   -   1160.83

The stock was found to be consolidating during the trading hours and closed on positive note. The trend presently in the stock is sideways. The stock is now facing resistance at 1202 and has support at 1170. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.

Resistance - 1202       Support - 1170

ICICI BANK -

R2   -   729.07

R1   -   717.53 

PP   -   705.47

S1   -   693.93

S2   -   681.87

The stock had range bound movements in today’s trading session and it closed almost flat. The stock’s major trend is weak and it is facing support level at 690. It may show some recovery in short term, it has resistance level at 725. Technically it is looking weak below support level.
Resistance - 725       Support - 690

MARUTI SUZUKI -

R2   -   973.73 

R1   -   957.37 

PP   -   947.18

S1   -   930.82

S2   -   920.63
Today stock has gap down opening and afterwards have a consolidation face and closes with a moderate loss. The major trend in stock is sideways so it’s expected that stock will consolidate and breaching of support may made him to lower level, now the stock facing resistance at 963 and support at 936.
Resistance - 963       Support - 936


ACC -
R2   -   1162.93

R1   -   1153.47 

PP   -   1138.33

S1   -   1128.87

S2   -   1113.73
The stock is consolidating currently taking support at lower levels. It has resistance at 1150, crossing of this level may take the stock further upwards till the levels of 1170-1200 in short term. One could go for buying on dip strategy in the stock until it crosses 1120 in near term.
Resistance - 1150        Support - 1120