STRESSED…..

The order of the day now opening with stressed accounts and the amount related will hit the head lines as the markets are likely to witness the results and reveals from the Indian banking sector. The aggressive private sector bank ICICi has announced its numbers far below than the street expectations. The NII and the NIM are both are positive but the provisions are huge that resulting a drop of more than 35% in net profits. The stock which faced resistance at 439 level may become weak below 430, the bears run as the stock falls below 415…, 403….and the earlier supports at 495-90 may not hold as the support is expected first at 378-81 level and at 357-53 level. The stock is technically in Bulls grip. The Bulls lighten their positions in the counter when it trades below 321 level and the Bears take advantage below 315 levels.

The Asian markets are mixed and the SGX nifty suggests 40 points loss with negative bias. The Nifty is in Bull grip so long it trades above 4221-23 level, major support is at 4361-63 level but the resistance is expected at 3509-3524 level. The markets may get support at 3350 level as the upward momentum was in place. As the markets has risen in the last two trading sessions, the fall in prices still keel them in bulls grip.

The RIL could cross the immediate resistance at 1735-39 level and touched a high of 1802. Today it may face resistance at 1809-11 but gains upward momentum above 1821 level. The stock will become weak only it trades below 1693 level.
The Rel infra will face resistance at 1751-54 level and the support is expected at 684-86 level. The stock is in Bull grip above 719-21 level.
The Relcap has potential to go to 579-81 level so long it trades above 542-39 level. The stock will get support at 523 level.
The T.steel has recovered from a low of 240 level to 270 level may see some correction so is the other metals. The Sail will get Bulls support above 116.50.
The Bharti is good above 726 level but may face resistance at 767-71 level. The RCOM is good above 226 level but the support at 218-19 level and will become weak below 215 level.

The SWINE FLU is threatening to kill more as it spreads but the medicines are available.

The crucial results to be announced on Monday are from Aban, Bank Baroda, Indian bank, Oriental bank, United spirits, Tech Mahindra castrol, Areva, Bartronics, Exide Ind, and Vimta labs.