4920-4950 is the strong resistance band for Nifty and 4845-4860 will act as a good support. Concentrate less on Nifty trading ( as it will open gap up ) and more on stocks ( as they will bounce back so there may be some trading opportunities )
Stock View: SIEMENS
Siemens stock has been trading in parallel channel since July 2009 and has seen a bounce back everytime it has gone near its green momentum lines.
At this point of time it is observing a triangle pattern as u can see in the charts.
Stock is a buy if it sustains above 675-680 for targets of 750 & 770 in extreme short term and the stop loss for the above trade should be placed at 635.
Stock View :SBIN
The stock has taken good support from the previous top in August 2009 and has been holding on to 1880-1890 levels since last 7 trading sessions.
The stock has been a major underperformer and may be a good bouncing candidate in coming days.
The stock can be bought at current levels with a stop of 1880 and targets are at 2030-2050.
2030- 24% of entire fall
2050- previous bottoms
Stock View: Brandhouse
The stock is looking good on charts as it is holding on to major purple support line since July 2009 and now has given breakout with huge huge volumes above its major Red resistance line and the multiple tops around 33.
The stock can be bought around 33-34 for targets of 36.5/3 in extreme short term. The stop loss for above trades should be placed at 31.
Stock View: BHEL
The stock is showing a converging pattern and is looking good on charts. During recent fall in the benchmark Index also this stock has held on to its green support line which it is holding on since July 2009.
The stock is a buy if it sustains above 2420-2430 with a stop of 2340 for short term targets of 2520 /2600.
Have a nice trading day
Regards
Ankit
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