Buy Ambuja Cements Ltd.

Above - 117.10

Tar- 118.30, 120.05

SL - 114.40

Nifty broke the crucial resistance of 5500 today and after that it made a strong closing as well. The next resistance in it seems to be at the level of 5535. Closing above this resistance may take it up till the levels of 5600 to 5610 in near run. As we already recommended buy on dips in Nifty Future until it close below 5350 for the targets of 5450, 5500, 5550. Today market achieved the second target also. Now one may hold the long in Nifty Future until it close below 5440 for the target of 5600. Those who like to initiate new longs they may do above 5335 for the target of 5600 with Stop Loss around 5495.

Sensex may face the next resistance close to the levels of 18800 to 18850. Decisive closing above this resistance zone may take it up till the levels of 19170 to 19200 in near run. Sensex made a strong come back from the lower levels as we already mention in our previous reports. Now the short term support for sensex seems close to the levels of 16950 to 17050.