Wednesday, January 04, 2012
Daily Analysis of Stocks - 04th January 2012
R2 - 259.38, R1 - 254.62, PP - 246.93, S1 - 242.17, S2 - 234.48
The stock has shown up rally during the trading hours and ended up on a positive note. It is now facing a resistance at 255 and support at 241. If it manages to sustain at current levels then further upward movement is expected in the stock. One should wait for sometime in stock till it confirms its recovery.
Resistance - 255 Support - 241
RELIANCE INDUSTRIES -
R2 - 736.82, R1 - 730.18 , PP - 720.27, S1 - 713.63, S2 - 703.72
Reliance Industries has shown upward movement during the trading hours and ended up on a positive note. It is now facing a resistance at 740 and support at 709. As mentioned previously the stock tried to recover from lower levels. If it manages to sustain at current levels then further upward movement is expected in the stock.
Resistance - 740 Support - 709
STATE BANK OF INDIA -
R2 - 1753.95, R1 - 1730.9 , PP - 1686.95, S1 - 1663.9, S2 - 1619.95
The stock shows consolidated with positive biasness in today’s trading session. It now faces resistance at 1710 and support level of 1643, breaching of support may take the stock to lower levels in near future. If the stock consolidates at current level and crosses the resistance level then bullish trend can be seen in the stock.
Resistance - 1710 Support - 1643
LARSEN & TOUBRO -
R2 - 1093.83 , R1 - 1078.27 , PP - 1049.13, S1 - 1033.57, S2 - 1004.43
The stock had a straight up side rally and closes with gain 5.71%.The stock has shown upside rally and manages to close above its 10 period & 50 periods moving average one may go for long position after crossing of resistance level.
Resistance - 1063 Support - 1020
R2 - 2922.07, R1 - 2890.23 , PP - 2855.12, S1 - 2823.28, S2 - 2788.17
INFOSYS today opened above its previous closing and had straight upside movement, the stock closed with the gain of around 1.97%. It has resistance level at 2886 and support level at 2819. It is expected to show volatile movements in short term, above the resistance level it is looking strong on charts.
Resistance - 2886 Support - 2819