Technical Views on AB Nuvo and Kotak Bank

By | April 5, 2011

AB Nuvo

AB Nuvo has been trading in the range of 715 to 849 from past 2-3 months.

AB is now hitting the upper range of its trading range on low volumes which make the case of short sell

 

Looking at momentum indicators RSI is in overbought zone which also adds strenght to our short views 

Sell around 849 TGt 842,834,827

 

Kotak Mahindra Bank

Kotak Bank is forming a double top pattern which has bearish implication at 465 and Inverted Head and shoulder pattern with neckline at 465 which is having bullish implication.


In nutshell 465 is level which needs to be watched for furthur trades. Close above that will tgt 600 in short term and close below this stock can decline till it 20 DMA@436

RSI is generating a negative divergence and Stochastic is generating a SELL

Sell below 465 Tgt 457,453,446 and 436

Buy above 467 tgt 473 480 and 488

 

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