Technical Analysis:Bank Nifty,Infosys and Idea

By | December 8, 2011

 

Bank Nifty

Bank Nifty is unable to close above 9200 which is short term resistance signifying selling pressure is coming. Fresh longs shall be taken above 9275 only.Bank Nifty on lower level have support at 8940.

Shorts can be taken below 9130.

Sell below 9130 Tgt 9054,8975 and 8938

Buy above 9175 Tgt 9273,9333 and 9394

 

Infosys

 

Infosys is at its crucial resistance of 200 DMA@2772.Close and trade above 2772 will take infy to upper end of trendline resistance at 2850,On Downside close below 2684 will lead to lower trendline support at 2600

Buy above 2773 Tgt 2795,2826 and 2850

Sell below 2738 TGt 2704,2685 and 2650

 

IDEA

Idea is trading in the range of 90-104. Yesterday it fell by 6% but it was not accompanied by volumes.Basically weak hands are getting out of the stock.

Till a stock is in a trading range buy weekness and sell strength is the best trading stratergy.

Buy above 93.5 TGt 95.8,98 and 99.6

 

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