AXIS - ICICI - SBI ANALYSIS FOR 03/07/12

LAST CLOSE @ 1029

YESTERDAY INDICATED....IF BULLS CAN SUSTAIN ABOVE 1016....WE CAN SEE 1034 IN INTRADAY.....YESTERDAY MADE HIGH 1039..

WHAT TO EXPECT TODAY..

IF PRICE CAN TRADE ABOVE 1030....WILL TAKE TO 1039 - 1054 LEVELS.

TRADING BELOW 1029....MIGHT DRAG DOWN TO 1016 - 1007 LEVELS.

LAST CLOSE @ 2182

YESTERDAY BOLDLY WRITTEN....IF PRICE TRADE ABOVE 2160....NEXT TARGET MAY HIT      2185 - 2200 LEVELS.YESTREDAY MADE HIGH 2197.

WHAT TO EXPECT TODAY

TECHNICALLY STRONG IF BULLS CAN TRADE ABOVE 2138

TRADING ABOVE 2185....WILL TAKE TO 2197 - 2200.

THEREAFTER 2212 - 2218 NOT RULED OUT.

ULTIMATE TARGET 2244.LEVELS.

TRADING BELOW 2180....EXPECT CORRECTION UPTO 2170 - 2160 .

THEREAFTER  NEXT TARGET 2148

MAIN SUUPORT @ 2138

LAST CLOSE @ 894

YESTERDAY  INDICATED..BEFORE  ANY UPSIDE MOVE ABOVE 905...WE EXPECT SOME CORRECTION. YESTERDAY MADE HIGH 904   AND  CORRECT TO 884.

TODAY MAIN RESISTANCE @ 904 - 914 - 917

BELOW 894.......SUPPORT @ 884 - 879 - 875

REMEMBER ....ANY UPSIDE MOVE  ABOVE 905 - 914....WE EXPECT  CORRECTION ATLEAST  870 LEVELS.