HDFC is forming an ascending triangle with lower trendline support @ 659 Levels and Facing upper trendline [email protected]
HDFC has been in trading range and its going smaller as per ascending triangle formation.
Indicators are showing strength but break of trading range is important for any explosive upmove either on downside or upside.
On Downside levels of 640 will provide decent support.
Buy above 674.2 Tgt 683,692
Sell below 658 Tgt 653,646 and 639
LT has been on good run up after results were out ,Stock moved from 1500 levels to 1750 odd levels. Now come the intresting part.
As seen from the below chart LT has come under zone of [email protected] level and volumes are on lower end.
Move with volume is required for stock to move out of this zone of resistance 1735-1766 levels.
As stock is in overbought level based on indicator pullback should be expected
Sell around 1742 Tgt 1720,1699 and 168
NIFTY LEVELS TO FOR TODAY‘s Trading
Buy above 5543 TGT 5566,5581
Sell below 5518 TGt 5494,5479 and 5450
Levels Mentioned are SPOT LEVELS.