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.