Technical Analysis:RIL and AXIS Bank

By | August 1, 2011

Reliance

Reliance the Poster Boy has been under bear hammering from past few days. Stock is breaking its important support levels inspite many positive triggers of BP deal.

Technically Stock is very week and currently trading trading its 52 Week Low.

Looking at Daily charts Stock is a falling knife and should not be taken long from trading perpective.

Sell below 821 Tgt 813 and 795

For Sell Rise its an Ideal Candidate with sl 860 for Short term Perspective.

 

AXIS BANK

Axis Bank made a blockbuster moves after its excellent earnings declared. Stock was able to cross its 200 DMA and close over its for 2 days in a row which is positive for the stock. Stock also  gave breakout around 1340 levels and closed above it.

Today Stock opened gap up and was unable to fill the the opening gap.

Technically Gaps are always gets filled and provide excellent trade opportunity.

Axis if it breaks 1346 tomorrow it will fill the gap area 1340-46 and if it able to protect the Breakout level of 1340 will continue its upmove.

Sell below 1346 Tgt 1340,1334 and 1322

4 thoughts on “Technical Analysis:RIL and AXIS Bank

  1. Bramesh Post author

    Hi Sir,

    Ashok Leyland you can buy at current levels

    TTML:Buy around 18

    KS Oils: Can buy now 20%

    NHPC:Around 22

  2. Soundararajan.S

    HiBramesh,
    I am following your analysis regularly and thanks for sharing your views with us. I am a medium to long term investor and need your advice on the below stocks which i am planning to buy at current level and i will hold it for 6 to 12 months.

    Ashok Leyland, TTML, Ksoils, NHPC, Neyvali Niglight Corp & Autoline Industries.

    Thanks,
    Soundararajan.S

Leave a Reply