Technical Calls:BHEL,Axis bank and Hind Petro

By | November 1, 2010

BHEL

BHEL is forming base around 2430 levels as show in daily charts and forming a resistance around 2500 levels.As seen it is forming an ascending triangle formation.RSI and MACD are in oversold state

Buy around 2483 levels tgt 2500/2520 and 2548 SL 2420

Hind Petro

Hind Perto has been in downward channel as shown on daily charts and now looks ripe for this downward channel and shall move into a bullish stance .

To support my stance on Hind Petro STOH is in oversold terrotiry and it gives pretty good signal

Buy above 488 Tgt 495,504 and 512 Sl 478

AXIS BANK

AXIS Bank is moving into parallel channel where it is taking support at lower end of channel and resisting at upper end of channel.

Stock is now taking support at lower end of channel at 1460 levels and bouncing from that.Stock should see a decent bounce as seen from the previous movement from channel bottom.

RSI is in oversold zone

Buy above 1460 Tgt 1492,1513 and 1543 SL 1435



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