stock pick of the week 01-may nse , page-4

Does anyone see what I see today?

There is a moderate buying pressure for the last one week (including today), but it looks like someone is trying to push down (or capping) NSE sp! It has become more obvious to me today. There was good buying at 16.5c and it even went up to 17c, but the guys are selling to 16c! This is happening when more shares are sold at 17c than it was sold at 16c. (See the sales distribution below)
This is what I called as "Capping".

314,075 shares are sold today. The distribution of levels;
16c.......37,519 shares
16.5c... 207,516 "
17c ......69,040 "

Because 16.5c is an important level according to the charts, the cappers don't want to let the sp going any higher than that. If it goes over 16.5c it will directly go to 19c even to 21c (There is a resistance at 23c too).

When we get the rig contract or Merlinleigh farmout anns. it might directly go to 30c anyway. And it should be just around the corner.