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Technical View:: Nifty, HCL Tech, Aban Offshore & GlaxoSmithkline Consumer

Posted on: December 23rd, 2011 at 2:56 am

Click on the charts to enlarge

HCL Tech:
With the recent news of US call center bill proposed in the US, IT stocks have been witnessing selling pressure. Technically HCL tech has good support at 378-382 levels. if manages to break this level on the downside, it can test 365. On the upside has strong resistance at 400-410 levels.



Aban Offshore:
Aban offshore is finding strong support near 320-325 levels and has managed to bounce back from these levels in last 3 occasions. on the upside above 340, it can head upto 352 levels. If it does manage to break level of 320 in coming days, it could head lower to 305-308



GlaxoSmithkline Consumer:
GlaxoSmithkline Consumer looks strong technically. Being a defensive bet, it tends to do well when markets are going a bit weak/ flat. Above 2500 it can head upto 2555 levels. strong support in the 2460-2480 zone.



Nifty after breaking the strong support at 4700 recently has managed to recover again. As of now faces strong resistance at 4750 levels. if it does manage to cross 4750 on closing basis, then could head higher to 4850-4900 levels in coming days. If its unable to cross 4750 (closing basis), it is likely to witness selling pressure again which could take it lower to 4600 again.



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6 Responses


  1. RAJ Says:
    December 23rd, 2011
    Posted at: 9:53 am

    SELL NIFTY 4748-4738 SL 4760 T 4684 4646

  2. mayuri krishna Says:
    December 25th, 2011
    Posted at: 11:07 am

    sir i am thinking to enter into nifty options and nifty future trade but i do not have knowledge on technicals. i enitrely depend on help or tips, can you please guide me in this minimum profits of 500 enough per day. hope you will find time to reply

  3. CB Says:
    December 25th, 2011
    Posted at: 11:46 am

    Hi mayuri krishna, future & options is a high risk bet.. as of now no new call. enter a call nifty heads for a close above 4760.. a put can be entered if nifty breaks 4680. you can download an ebook on technical analysis from here. hope this helps: http://www.mediafire.com/?2paeoqo6u6hsj4t

  4. parvateesam Says:
    December 25th, 2011
    Posted at: 6:06 pm

    NIFTY vl drift to 4343 within Jan 13 2012

  5. vasudevan Says:
    December 30th, 2011
    Posted at: 8:26 am

    sir, friday nifty will go up trend or down trend what is the level

  6. CB Says:
    December 30th, 2011
    Posted at: 8:30 am

    Hi vasudevan, as of now seems may open a bit higher near 4670. has resistance at 4710

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