NIFTY-
| PP | R1 | R2 | S1 | S2 | S3 |
| 5501 | 5566 | 5604 | 5492 | 5475 | 5464 |
NIFTY is trading below its 50, 100, 200 DMA. In today’s trade it will take support at 5492 and 5474.
Bears take hold of situation if NIFTY starts trading below 5453. Below that mark it may try to test 5437 and 5402.
LEVELS for BULLS………
BULLS will dominate market only above 5547. If NIFTY continue to trade above 5547……..more power will be added by bulls to take nifty to the levels of 5560, 5586and 5604
SBI
| PP | R1 | R2 | S1 | S2 | S3 |
| 2592 | 2618 | 2635 | 2575 | 2550 | 2532 |
SBI is also trading below its average. I would suggest to accumulate SBI in the current fall around 2350-2450 with target of 2900. It has a strong support at 2500 with immediate resistance at 2630 & 2650.
Wait for RBI policy to come before taking any position in this stock.
TATA STEEL
| PP | R1 | R2 | S1 | S2 | S3 |
| 595 | 608 | 616 | 587 | 574 | 567 |
Trading below its MDA with immediate resistance at 607 & 612. Also showing sign of Positive divergence on the chart except with one great factor of quake and tsunami due to which metals demand may slow down for a short term. Overall bullish in the long term.
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