Technical Analysis :Reliance,Larsen and Omaxe

By | October 21, 2010

Reliance Industries

The poster Boy of Indian Stock Market Looks like waling up from a slumber sleep and ready to roar above 1095 Levels.Yesterday RIL showed upmove with volumes after long time and it is tad away from its breakout levels of 1095.

As seen from the chart above 1095 is converging trendline and if taken out we will see a quick 2-3% move again on the Stock.

RSI and Stoc are giving buy. Volumes looks good

Buy above 1195-97 levels Tgt 1112 and 1137.75

Larsen and Tubro

LT is forming base around 1980 and Resistance exsists around 2043 which is 5 EMA High.

RSI and Stoc are in buy zone.One point of concern is volume which remains up on Falling day and down on Green day

Well if it breaks a resistance of 2055 it can see increase in volumes with price rise when it breaks its resistance trendline

Buy above 2055 Tgt 2100

OMAXE Limited

OMAXE is forming an excellent trendline channel and is respecting upper and lower trendline as shown is daily chart.

Buy above 156 Tgt 160 and 165 Support at 145

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