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.