Technical Views:BHEL,HDFC Bank and JP Associate

By | June 28, 2011

JP Associate

JP associate has been trading in a Parallel channel as shown in above chart and forming a formation of  Lower Highs which is a bearish indication

Stock has taken support at 77.6 from past 2 days and breaks of this level will give a down move which can touch the downward channel.

Sell below 77.6 Tgt 76.1 and 74.6

 

HDFC BANK

HDFC BANK stock is moving into its supply zone of 2430 levels as shown in above chart

Volumes are on Lower end

Sell below 2433 Tgt 2419 and 2408 SL 2443

Buy above 2444 Tgt 2459,2470 SL 2433

 

BHEL

BHEL is approaching its short term trendline @2014 as shown in above chart.

Stock is going into a supply zone of 2020-2050 as shown in above chart.

Sell @2019 Tgt 1994,1970 SL 2026

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