Quotes with Resistance & Support
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Technical View:: Nifty, Tata Steel, JSW Steel, PNB & Bata India

Posted on: January 1st, 2013 at 6:24 pm

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Nifty: Technically Nifty does look strong and is in a long term uptrend. After recent rally, nifty has been consolidating in the 5950-5820 zone since last week of November. A close below 5820 could take nifty to lower levels of 5700-5750 where again strong support comes in. A close above 5950 can trigger another 80-100 points upmove.



Tata Steel: Tata steel has turned strong technically. Has given a good breakout above 420 and at cmp 438.20 looks good for another 18-20 points gain. One can enter at cmp for a target of 455.



JSW Steel: JSW steel gave a triple top breakout at 780 levels. Managed to cross it and then trade above it for few days. At cmp 831 looks good technically. Can head upto 860-870 in coming days. has strong support near 805-815.



Punjab National Bank PNB looks strong above resistance levels of 860-870. One can look to enter it on dips near 875-880 for a short term target of 925.



Bata India: Bata India has seen a good rally in last 1-2 years. recently has started to witness some profit booking come in on rise. Has formed good support near 845-850 levels. if manages to close below the support of 845, one can go short for a target of 810.



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8 Responses


  1. Shamim Says:
    January 12th, 2013
    Posted at: 12:41 pm

    Thanks for the inputs...

  2. CB Says:
    January 14th, 2013
    Posted at: 3:27 pm

    Hi Shamim, most welcome.

  3. sudhir Says:
    January 17th, 2013
    Posted at: 9:14 am

    hi BB,
    I have long positions in HCL , can i book profit or exit ?

  4. CB Says:
    January 17th, 2013
    Posted at: 12:00 pm

    Hi sudhir, hold with sl at 695 for now. can see 720

  5. Vijay VV Says:
    January 22nd, 2013
    Posted at: 7:32 pm

    I have 400 shares of Crompton Greaves bought at 132, should I exit or wait?

  6. CB Says:
    January 23rd, 2013
    Posted at: 1:16 am

    Hi Vijay VV, it does have strong support near 107-112 levels. hold it for now. can expect a bounce from here. dont add more yet

  7. tsvas Says:
    January 27th, 2013
    Posted at: 12:43 pm

    nifty 6084 and sensex 20164 above rally chance is therer

  8. bazinga Says:
    January 27th, 2013
    Posted at: 2:06 pm

    hi cb & kb good afternoon .can i buy dlf & maruti monday for intraday or u advice any other stocks

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