Technical Analysis
Technical Analysis – Infosys
Infosys sustained to sketch a new life-time peak last week and closed by expanding 2.3 per cent. The stock moved higher in line with our anticipation and achieved first target of Rs 3,420 and is heading towards Rs 3,512. However, the daily and weekly relative strength indices have entered into overbought territory, implying caution over [...]
Technical Analysis – Tata Steel
Tata Steel inched marginally higher by gaining Rs 5.6 (0.8 per cent) in the previous week. It is currently testing the short-term important resistance range between Rs 680 and Rs 700.We stay with the view that fresh long positions should be initiated only on a decisive jump above Rs 700. The upside target is Rs [...]
Technical Analysis – State Bank of India
SBI gained 2 per cent during the week, moving higher from its strong medium-term first support level of Rs 2,720. The second key support is pegged at Rs 2,500. The stock appears to have breached initial resistance level as well as the 21-day moving average at Rs 2,800. Short-term traders can consider holding the stock [...]
Technical Analysis – Reliance Industries
The stock moved sideways in the band between Rs 1,040 and Rs 1,070 and finished the week at almost the same level. It has formed a weekly doji candlestick pattern implying neutral stance. Reliance Industries continues testing its short-term resistance in the range between Rs 1,060 and Rs 1,080. We re-affirm our view that fresh [...]
Dalal Street Technical Analysis Buy Calls – Tulip Telecom
Tulip Telecom CMP – Rs 180.80. 1st Target: 204 (4-6 weeks) 2nd Target: 220 (12-14 weeks) Stoploss: 168.00 (cls) Tulip Telecom bottomed out by posting an intra-week low of Rs 51.61 during the week ended 13th March 2009, took support on the 3-Week EMA, recovered smartly and peaked by posting an intraweek high of Rs [...]
Dalal Street Technical Buy Calls – Hindustan Unilever (HUL)
Hindustan Unilever CMP – Rs 296.20. 1st Target: 326 (4-6 weeks) 2nd Target: 349 (12-14 weeks). Stoploss: 281.34 (cls) HUL bottomed out by posting an intra-week low of Rs 210.70 during the week ended 13th March 2009, commenced a short-term uptrend and rallied to peak at an intra-week high of Rs 245.45 during the week [...]
Protected: Dalal Street Technical Buy Calls – Cipla
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