Quotes with Resistance & Support
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TECHNICAL VIEW :: Nifty, Reliance ind, Tata motors, TCS & ICICI bank

Posted on: November 25th, 2011 at 7:26 am

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

Reliance Industries

Reliance industries

Reliance industries

As seen in Reliance Industries chart above, its finding strong support at 750-760 levels. if breaks this level, it can head lower to 690-700 levels. on the upside, if markets improve, it could bounce back to 800-805 (38.2% retracement level on Fibonacci).

Tata consultancy (TCS)

tcs

tcs

With dollar going strong, IT companies have till now held onto the fall. Technically TCS has strong support at 1050-1060 levels. on the upside can see 1120. If manages to break support at 1050, it could head lower to 980-1000 in near term. Current longs can keep sl at 1050 and fresh shorts can be entered below 1050

Tata motors

tata-motors

tata-motors

Tata motors has good support at 164-168 levels. can head upto 185 in coming days. On the downside, if manages to break 164, could head lower to 156

ICICI Bank

icici-bank

icici-bank

ICICI bank has corrected quite a bit in last few days. As of now its oversold and possible see some short covering from here. Longs can keep stoploss at 715. It can see a bounce back to 780-800.

Nifty

nifty

nifty

Nifty managed to see short covering from 4650-4700 levels. technically these are strong support levels. below this could head lower to 4500 in near term. on the upside if global markets support, could bounce back to 4850. technically seems, selling pressure is likely to resume on rise.

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23 Responses

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Comment pages: 12Show all

  1. CB Says:
    November 25th, 2011
    Posted at: 11:51 am

    Hi siya, its a hold for now. keep sl near 69. can see 75 if markets improve a bit.


  2. YOGI Says:
    November 25th, 2011
    Posted at: 12:35 pm

    Rocking charts cb


  3. kl Says:
    November 25th, 2011
    Posted at: 12:41 pm

    cb,i have bought one lot of 360p tatasteel dec, should i hold or sqr up


  4. Chandan Says:
    November 25th, 2011
    Posted at: 12:49 pm

    Hi CB, Sir, Can LNT be bought at cmp 1272/- for short term ?


  5. Senthilkumar Says:
    November 25th, 2011
    Posted at: 1:42 pm

    Thanks for ur wondrful work...........


  6. CB Says:
    November 25th, 2011
    Posted at: 1:44 pm

    Hi YOGI, thanks

    Hi kl, yes, for now would advice to exit from it. can enter again on a 8-10rs bounce. overall looks weak

    Hi Chandan, enter in small quantity for now. can see 1310

    Hi Senthilkumar, thanks.


  7. sawpan chowan Says:
    November 25th, 2011
    Posted at: 2:30 pm

    WHAT HAPPEN TO UNITY INFRA??


  8. richa Says:
    November 26th, 2011
    Posted at: 1:10 am

    Thanks karthik..i like wen u post charts nd explain stocks nd index for lil longer term as compared to intraday..i have two requests: 1- please put up a new section for medium term calls. 2- also include bharti in the list of stocks u explain.

    thanks a lot


  9. CB Says:
    November 26th, 2011
    Posted at: 12:35 pm

    Hi sawpan chowan, not really sure of any news on it

    Hi richa, thanks. sure, shall add bharti too.. these calls are short term calls.


  10. Krishna Says:
    November 26th, 2011
    Posted at: 7:54 pm

    I want to know details about the long term shares.?

    kindly do provide me the lists of long term shares.
    eg: Biocon & Biotech..


  11. DS Says:
    November 27th, 2011
    Posted at: 1:36 pm

    Dear CB,

    So do we go long in futures and buy puts to hedge in all of these?

    Warm Regards,

    DS


  12. CB Says:
    November 27th, 2011
    Posted at: 2:05 pm

    Hi Krishna, biocon is a good long term bet.. also add axis bank, ashok leyland, Ril on dips


    Hi DS, enter a short/long above given levels. likely to give good returns. can always hedge with a call/ put.


  13. Gitanjali Says:
    November 27th, 2011
    Posted at: 2:13 pm

    Hi CB, am thinking of redeeming MFs [a few ],in ny bounce for now ..and start investing in gold funds in systematic mode .
    Is this the season for commodities to do better ..pl?
    Thanks


  14. CB Says:
    November 27th, 2011
    Posted at: 4:13 pm

    Hi Gitanjali, not sure of starting a fresh investments in gold as of now. its rallied quite a bit. its possible it enters a consolidation/ profit booking mode.


  15. HIMANSHU Says:
    November 29th, 2011
    Posted at: 1:24 pm

    I WANT TO INVEST MONEY


  16. CB Says:
    December 2nd, 2011
    Posted at: 2:47 am

    Hi HIMANSHU, you some of apollo tyres for now.

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