Sensex Technical View :
With things not changing much in the todays session pasting yesterdays views
The view remains the same as yesterday to watch for the 8600 level which if holds we could see a possible pullback to 8978 -9270 levels also.
Any upmove will face major resistance around 9500 in short term. Only a move beyond 10100 would mean a change of trend on upside in short term. Similarly 8500 on closing basis remains a confirmation level for a breakdown.
Stocks to watchout for :
Bajaj Auto does tgt of 525+ and can still go higher. Maruti continues beyond tgt. HDFC touched 1200 could now give a pullback of 40 bucks.
It was discussed as a short pick some days back below 410 for a tgt of 380-350. The stock pulled back from 365 and tested the breakdown level. Seems its headed down again short below 360-365 for a tgt of 345-330 in short term.
Larsen and Toubro
Stock remains in a downtrend. Short below 605 for a tgt of 570-585 in short term.
The stock has sustained in the range of 132-144 in the last couple of weeks. A move above 145 with volumes could tgt 149-154 levels.
There have been 2-3 tops around the range of 740. Possible trade could be short around 735-739 with a stop of 743 or buy above 743 for a quick 15-25 bucks on either side depending on your view.
October low 165 and January low around 161. The stock can see a pullback from these levels of 170-167. Risky traders can buy small qty with a stop of 164-161 for short term delivery.
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