MUNDRA PORT,RANBAXY LABS,TATA MOTORS technical charts

By | November 15, 2010

MUNDRA PORT

Mundra Port is forming double bottom formation which if held can see a good upmove till its 50 SMA@160 levels and if it fails to get support at 150 levels can slide till 143 levels on downside.

As technical Indocators are in oversold zone bias is towards upside

Buy above 151 Tgt 153 155 and 156

Sell Below 149 Tgt 148 and 146

RANBAXY LABS

Ranbaxy Labs has broken its solid support of 50 SMA@571 on a low volumes .Well breach on 50 SMA on upside only made the bull run from 460 levels to 610 levels.

If Ranbaxy is able to move above 471 by tommrow on closing basis we can consider today as whipsaw and initiate long positions in the counter.RSI AND STOC are in oversold region

Buy above 571 Tgt 577,588 and 597

Sell below 556 Tgt 547 and 535

TATA MOTORS

Tata Motors trading can be done based of 5 EMA(High,Low,Close) Strategy.

Tata Motors take support around 5 EMA Low @1241.6 and now faces resistance around 5EMA @1265 and after that 5 EMA High @ 1306 levels.

Long should be initiated around 1265 levels for a tgt of 1278 and 1299 and 1306 Sl 1237

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