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.