Sensex has resistance at 17280: Geojit BNP Paribas

Geojit BNP Paribas has come out with technical analysis on markets and stocks.

Geojit BNP Paribas research report:

Market is expected to open on a downside note and is expected to trade lower before noon but in the second part of the day we may see markets recovering. Being f&o expiry, we may see good amount of volatility.

SENSEX(17198)

Sensex has resistance at 17280, 17320 and 17376. Support is at 17156, 17065, 17027 and 16979.

NIFTY(5108)

Nifty has resistance at 5130, 5143 above it can test 5159. Support is at 5097, 5079, 5065, 5053 levels.

Recommendation

1) STERLITE (857.4)

Support at 852 and 846. (Buy at declines). Resistance at 861 above it may test 866 and 878.

2) TV TODAY (119)

Support at 116 and 113. (Buy at declines) Resistance at 121 above it may test 125 and more.

ITC (268.9)

Resistance at 271, if moves above with volumes then it may test 274-280 levels. Support at 265 and 263

3) DLF (360.9)

Resistance at 365 and 368 (Sell at higher). Support at 358 below it may test 352 and 348.

4) SATYAM COMPUTER (90.7)

Support at 88.5 below it may test 87.4 and a freefall. Resistance at 93 and 96.1 (Sell at higher)

Derivative Strategies

BUY HDFC BANK @ 1782
BUY KOTAK BANK @ 777.

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