TVS motors a wide trading channel

At 76 this counter is very much at the bottom of the trading channel.


One can buy with Stop Loss of 74 and target of 85.

L&T channel support

Current bounce of L&T from 1900 level validates
the channel in the counter


One can buy L&T with the Stop Loss of 1900 and target of about 2300.

Reliance heading for 1150 resistance

1150 is a long time identified resistance in my earlier post

Might break the support this time but lets wait and watch.

Double bottom in Bharti Airtel

Double bottom is identified in Bharti Airtel.
This makes 318 as tough support for this stock.


If it closes above 345 this stock will confirm the reversal.

Moser Baer breakout

There is good buying in Moser Baer. You can see the
breakout from the down trend. short term target 76
will be achieved very fast.

Nifty target 6350 . . .

Considering the breakout with good volume support target of nifty can be considered as 6350.

Nifty 5550 acted as resistance

As given in last post Nifty have reacted from 5550 level. Now there is chances of support at 5450 level else Nifty will slide upto 4900.

Nifty at near the roof of the channel

As posted in my last views on Nifty there is a channel in nifty on the yearly chart. So projecting the same channel you can have the 5550~5650 level acting as the resistance to the Nifty.

TATA Steel reversal

There is inverted head and shoulder pattern identified in TATA Steel.
With this pattern target of 570 can be projected.

Rajesh Exports reversing . .

Rajesh exports is showing sign of reversal.
with the inverted head and shoulder seen
in this counter.

Reaction in May was with very low volume.

IOCL reacted and buying opportunity

As identified earlier there was an up trend
in IOCL. After some amount of heat this counter
have reacted with low volume. This shows on
On Balance Volume (OBV).



IOC and can be bought with stop loss of 355 level.

United spirit reaction complete

As suggested earlier in April this stock went into down trend
now currently it has completed this reaction.

If this stock can break and close above the current resistance of 1325 level
it can move up to 1500 level in next 2 months.

Maruti breaking the downtrend

As opposed to RNRL Maruti have dogged the falling trend. As can
be seen from the chart Maruti have broken the roof of the
falling trendline. This is done with more than avg volume hence
one can say that the down trend is over in this counter.

Merk showing bullish trend

One can see that Merk is trading above its long term resistance and have

done this with convincing volume. One buy with stop loss at 700 level

RNRL at the resistance

At current level of 70 RNRL is at the long term resistance. We can

become bullish only if it breaks this resistnace line.

L&T breakout

As said earlier most of the heavyweights are trading bellow
their long term resistance. However you can see from the
chart that L&T have broken above 1750.


This makes 1900 and 2100 as next traget.

Movement in IOCL

IOCL have started moving up and there is good trend indication
of channel formation in this counter.


Can be bought with stoploss bellow the bottom of channel. (currently 325)

Reaction turning support in Fed Bank

There is good bullish indication in Fed bank. Resistance have
turned out to be resistance and there is good volume during up
move.
Can be bought with stop loss of 300.

Ballarpur reaction complete

As posted earlier Ballarpur had moved dramatically after breakout.
After the up-move it reacted with low volume (good sign). Now there
are signals of completion of the said reaction.


One can buy with stoploss of 29.5

ABG Shipyard at bottom of channel.

Poised at the bottom of the channel is giving
good risk to return ratio.

Buy with stoploss of 239.

Reliance has trendline support

Reliance had taken support at the long term trendline on the good news from court's decision.
As noted earlier 1150 is still the roof which needs to be broken.

This makes Reliance a gr8 trading candidate with the stoploss of 960 and target of 1150.

TATA Motors breakout

Earlier pointed out that some of the heavy weights were at resistance
Tata Motors has broken that resistance. This makes it bullish.
Tata motors have made new yearly high with decent volume. It had crossed the
resistance line.

Breakout in SBI

There is clear breakout in SBI counter and target of 2500 can

be easily achieved. StopLoss is around 2100 level.

View on NIFTY

On quartery basis if we look at the trend in Nifty
it can take some support at 5225 level.


However on the half yearly basis if we see Nifty has
hit the major resistance at 5375 level


Quartly range of 5375 to 4800 can be expected unless NIFTY
closes above 5400 convincingly.

United spirit at long term support

As identified in sept 09 united spirit took support on the trendline. Stock was still trading above the same trendline in March 10. However today's fall have brought the stock to the same trendline.

Further fall in this stock clearly means the stoploss have been broken.

Reliance 1150 critical resistance

Earlier Posted that there are many heavyweights are at resistance
Reliance on the longer term charts says 1150 is also a critical
resistance.

BHEL showing bullish signal

Most of the heavy weights are at there resistance as posted earlier.
BHEL is making new high. With the Resistance making Support its good bullish sign.

Proposed stoploss levels are 2450 & 2350. Considering overall market
heavyweights have not moved and given breakout BHEL can go either
way.

Ballarpur in triangle

A good triangle consolidation is seen in
Ballarpur close above 28 will give target of
32.

ABG Shipyard at support

After strong buying and reacting this counter
is at support. Currently at 260 and Stop Loss
of 250 gives good risk to reward proposition.

TVS motors Breakout

As posted earlier Nifty along with heavyweights
are at their resistance. BUT
Currently trading above 80 TVS motors have
given good breakout with decent volume.

Stoploss of 80 is must since if there is correction in market
this stock might also suffer.

Heavy weights at major resistance

Along with nifty there are many heavy weights
which are at their long term resistance. If they closes
convincingly above these resistance they can give
another bull run.

Larsen & Toubro : 1750 is resistance as posted earlier.

Reliance have heavy resistance at 1125~1150 level
unless it closes above this level bull run will die in
this counter.

ACC resistance at 1025 level


Tata Motors 825 resistance


the big question is
WHERE IS THE MONEY?
to take theme above these levels.

L&T tough resistance of 1750

As suggested earlier there was weakness spotted in L&T. But with
sentiment this stock has come up to its long term resistance level
of 1750. Any new bull run is only expected if it closes above 1750.


StopLoss of 1600 is suggested.

NIFTY 5300 is back.

Nifty has this level very critical.

Above 5300 its next bull run but it
will be tough for nifty to break it.

It has come from this level down last time
in jan 2010

IFB Industries consolidating

There is good amount of buying happening
in this counter. One can buy at stop loss
of 80.

Trend line in Fed Bank

There is a good buying interest in Federal bank. You can see there is a trendline and also good increase in OBV.

Up trend in United Spirit

There are 2 trend lines in making in united spirit counter. Short term Stop Loss is at 1350 level. Long term trendline gives 1250 as support.

KLG 120 chance of double bottom

KLG is providing a good risk to return proposition. Current price is 124 and Stop Loss at 120 means risking @4%.


Chance of reaching 150 are good. Also close above 150 will mean trend reversal in this counter.

Double top in Tata Motors

Tata motors have shown double top pattern
giving 850 as a tough resistance.

Reliance OBV dropping

Reliance could not break above 1200 (2400 pre split)
as pointed out earlier .

Currently stock is making higher bottoms but the
OBV (On Balance Volume) is dropping.


This drop in OBV means that stock might not sustain the current
900 levels.

Tata Steel showing weakness

Tata Steel have broken the support and there is also
a volume increase on the break of 540 level.

L&T broken crutial support line

You can see the support line not broken in more than 6 months
have been broken with very heavy volume



1300 and 1100 can be considered as next possible support

ACC having bull run.

There is good buying interest in ACC
as seen from the chart there is a good
formation of channel and all the volume
peaks are seen on the day when the stock
have good rise (ie white candle).



one can buy for 2~3 months for good returns.