Below are few stock charts helping understand current trend of these stocks. Click on charts to enlarge

Nifty:

nifty

Nifty did manage to bounce back from strong support levels of 4700 (triple bottom). Current bounce could come to an end near 5000 levels (50% retracement level on Fibonacci). If nifty is unable to cross levels of 4980-5000 in coming days, one can look to go short on with a target of 4800 in near term. Long term resistance for nifty remains at 5300 and strong support at 4700.

Kotak Mahindra Bank:

kotak1

Kotak has been volatile recently. has strong support around 440-450 levels. Resistance now comes in at 480 levels. If manages to trade above 480 for few min, it could head upto 500 in coming days. on the short side, one can enter shorts if its unable to close above 480 for couple of days.

Ranbaxy Labs

ranbaxy

Ranbaxy is forming strong support near the 430-440 zone. In last 9 months, its seen a good rally whenever it tried to test strong support at 440. This time too it did manage to recover from here. It is a good short sell candidate if it breaks 430 and trades below it for 1-2 days. On the upside, it has resistance at 480. above this can test 505.

Larsen & Tubro

lt

Larsen has been in a downtrend recently and is moving in a range. As of now if manages to cross resistance at 1310, it can head upto 1350-1360 levels. On the downside, if unable to cross 1310 for a day or 2, could head back lower to 1220 levels.

GAIL:

gail

Gail technically looks weak. Has strong resistance at 405-410 levels. One can look to go short on gail if it does not manages to trade above 405 levels for next couple of days. On the downside, it can test 380-385