Technical Analysis of ICICI Bank,HCL TEch,SelMCL and Reliance Capital

By | July 18, 2010

ICICI Bank

Stock was having resistance at 100 DMA ie at 898 and on last friday closed above that with volumes making a way for furthur upside in short term.

Strong support exists at 200 DMA 881 which can be touched tommrow as maket will open gap down.If ICICI Bank holds 200 DMA and close above it we can make a case of good upside in short term

IF we have a look at weekly charts

Trader having weekly perspective can see from the chart 50 WMA has acted as a brilliant support for ICICI bank so people taking position on weekly perpective should keep 866 as SL on longs held.

Buy around 880-885 tgt 902  909 916 and 928 and 945  sl 867

SEL Manufacturing

Trendline resistance at its play on SEL Manufacturing.Formed double bottom around 51 levels and now slowly posing on upside.

Immediate resistance is around 54.93 levels.

Buy above 54.93 Tgt 56 and 50 SMA of stock which is at 60 levels.

Reliace Capital

On the daily chart, the stock has broken out from an inverted Head
& Shoulders formation with the neckline placed at Rs791.  A successful close above its 200-DMA and neckline is likely to ignite buying momentum.

Buying the stock between Rs800-810 with stop loss of Rs786 for a target of Rs850 and Rs860.

HCL Technologies

Trendline support and a rise from that a Bullish set up

Buy HCL Tech between the Rs.370-374 levels with a stop loss at Rs.364. Upside targets are at Rs.394 which we expect the stock to touch in 4-8 trading sessions.

Leave a Reply