Nifty 5180 tough to pass

As you can clearly see there are multiple tops in nifty at 5180 making it dificult to pass above it.

Reliance Long term resistance

Check following chart of reliance which shows that
there is long term resistance line which gives
resistance at 2250 level.
It should take support nr 1800 level.

L&T showing weakness

L&T has fallen with good volume support this is clear sign of weakness on the
counter. Next 3 months can show 1400 levels

Mc Dowell at trendline support

As per my last post the McDowell (United spirits) have now landed
at support one can buy with Stop Loss of 860

Rolta & United spirits : Channel & Buying interest

Bellow are charts of Rolta and United Sprit.

While Rolta is near the top of channel and United spirit is near the bottom of the channel.

By this we can see that United spirit provides better risk to return ratio as comparred
to Rolta. While both are in the up trend. We can keep watch on both of them

Budget sell off is serious . . .

One can see that the budget day selloff was with handsome volume.
Next day reaction was just technical. It is advisable to keep tighter stop losses and sell in case the stop losses are hit.

Reliance 2400 resistance

As discussed earlier 1800 level was the target which was achieved. With the election day's euphoria Reliance did make a very critical high just bellow 2400.
Also the next day -off was with heavy volume this confirms that the 2400 is THE resistance.
Also it can be seen that it never managed to close above 2400 for about 1 month now.
One can be bullish on reliance only if it close above 2400

Reliance might be party to breakout. . .

Its above the resistance at 1450 level.

New target could be 1750~1800 level

Nifty Breakout . . !

Seems true . .

Nifty have given good indication of breakout I am
still waiting for it to close above 3147 (7th Jan 09 high).
If Nifty manages to close above 3150 we have chance of
good rally upto 3600.

I am now searching for the stocks which would have a breakout pattern.

Bulls might have some good time. Cheers

L&T Trying the top of the down channel

It seems clear that L&T will hit the top of
the channel. More uptrend is possible only with
the break of the top of this channel.
Present target on this channel is @715 level.

Stocks testing support . . !

L&T, Reliance and State Bank are trading very close to their supportgiving the very close stoploss (ie low risk to return proposition)

L&T :
645 should be ultimate support (Hence StopLoss)
Target : 820

Reliance :
1040 Should be ultimate support (Hence StopLoss)
Target 1300

State Bank:
1000 Should be ultimate support (Hence StopLoss)
Targets: 1150, 1400, 1500

NTPC new channel

NTPC may be forming new channel. After heating the old resistance line as posted earlier,
we can see the counter is making new higher bottoms. Break of the Resistance will give good upside.

Stoploss to be maintained below the bottom green line. Since the channel is steep the stoploss will change very fast.

Bullish indications in L&T

As seen L&T has closed above the resistance
line with above average volume.
It is expected to reach the high of 1100.
SL of 800 & 750 to be maintained.