SBI,DISH TV,Bharat Forge Technical Analysis

By | June 6, 2010

I would be covering the Following Stocks as my weekly technical picks SBI,DISH TV,Bharat Forge,Jindal Saw,United Phosphorus

State Bank of India

SBI has formed double top at 2348 levels and it is having a bearish implication.Negative divergence is easily visble in RSI.

On weekly charts also stock is trading in the range of 2160-2340 Levels.

Short at 2340 levels tgt 2297  2253 2228 2168

Long at 2168 Levels tgt  2200 2245 SL 2150

Dish TV

Dish TV is moving out of a trend line resistance after 3 months of consolidation phase.Golden Cross Over is also happening as 3 EMA is crossing 34 EMA MACD is showing SIgnal Line crossover.

Buy till rs 40 Levels Tgt 42.5  44 and 47 levels SL 37

United Phosphorus

United Phosphorus has closed above the multiple resistance at 184 with good volumes and shown a positive breakout.MACD is trading in positive zone means mometum is present in the script

Buy till pullback near 184 Tgt 190 194 and 200

Bharat Forge

Buy around 265 levels Tgt 273 277 and 280

Jindal Saw

Formed 3 DOJI is line having bearish implications 5 and 13 EMA crossover on downside

Negative Divergence in RSI

Sell below 189 Tgt 187 185 183 and 178

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