Expect a zig-zag movement, says Anirudh Sethi
BSE Sensex: The BSE Sensex has formed a triangle and the height of the triangle is approximate 500 points. If it closes below or above 4682 or 4777 level decisively then expect one-sided non-stop movement. On upper side it can flare up to 4830, 4895 or 4947. If it remains below 4743 level, then it can slide to 4680 and thereafter expect a free fall. Traders can expect one-sided movement from Wednesday onward. The next 15 trading sessions from today are crucial.
SBI & Tisco: Chances are very bright that this week both these counters will spurt heavily. The level of Rs 208 is a rock bottom for SBI and the last major hurdle exists at Rs 220. A close above this level will create all round panic buying. Expect Rs 230 to Rs 240 very soon. If Tisco decisively closes below Rs 140, then only bears will have an upper hand, otherwise expect a rally up to Rs 150 which will be the last hurdle. Thereafter it will directly zoom up to Rs 157 to Rs 164. Both these stocks are low risk buys.
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Apollo Tyres: Last week the scrip had formed a multiple bottom and it looks that the worst is over for this scrip. Above Rs 216, the scrip will favour bulls only and to get real strength, it must close above Rs 226. Thereafter chances are very bright that it will zoom up to Rs 275 with a minor hurdle at Rs 249. Rock bottom support exists at Rs 204.
ICI: The chart is indicating that accumulation is going on and it had formed a falling wedge too, so it means that it will spurt very heavily in coming days. Considering Rs 193 as last major support, traders can grab this scrip. Have an eye on Rs 204. Any close above this level will create all-round buying and scrip can easily flare up to Rs 225 or Rs 245. Buy this stock on every decline.
Corporation Bank: Considering Rs 112 as rock bottom support, grab this stock. Last and major hurdle exists at Rs 124 and thereafter expect a non stop rally to Rs 146. It might even enter a new orbit. Minor hurdle exists at Rs 135. It looks that in the coming three trading sessions it will give a zig-zag movement. Buy on every decline.
Himachal Futuristics: Buy this stock on every decline, because it looks that in coming week it will shoot like rocket on upper side. Any close above Rs 255, will favour bulls. Any crossover above Rs 263 and Rs 277 will take the scrip to Rs 290 to Rs 330. If it closes below Rs 231 then expect a fall to Rs 210. Chances are very bright that it will move in northward direction only.
Gramophone: At this price of Rs 493 it's really looking hot. Keep an eye on Rs 478 and Rs 519. If it is able to cross Rs 519, then expect a non-stop rally to Rs 635 within hours only. Minor hurdles for daily traders are Rs 545, Rs 570 and Rs 596. If it breaks Rs 478, th