Technical Analysis:RIL,Bank Nifty and LT

By | December 19, 2011

It is important to “follow what the market is currently doing as opposed to following what one might personally think the market should do.” As he said, “Every man has a right to his opinion, but no man has a right to be wrong in his facts.”

Bank Nifty

Bank Nifty has achvied its trendline target of 8120,by making a low of 8127.

Break of 8127 will threaten the break of  coveted 8000 level on Nifty.

Sell below 8120 Tgt 8000,7920 and 7825

Buy above 8172 Tgt 8240,8300 and 8375

 

Larsen Turbo

 

LT had a viscious fall on Friday reason being it has started filling the gap of May 2009 by breaking the low of 1100.

Election gap is present from 989-1100 so the bloodbath will continue in LT and it should be in 3 figures by this week. Expect a sharp bounce back from 989 levels in LT.

Sell below 1060 Tgt 1037,1001 and 989

Reliance Industries

 

RIL is at its long term support of 711. Break of the same will take stock to sub 700 levels. break of 696 on closing basis will lead to 593 odd levels in short term.

Sell below 711 Tgt 696,685 and 677

Buy above 724 Tgt 732,738 and 750

8 thoughts on “Technical Analysis:RIL,Bank Nifty and LT

  1. Bramesh Post author

    Dear Sir,

    Try to minimize your losses by closing position near your buy levels.

    Next time onwards try to trade on a system instead of your emotions.

    Rgds,
    Bramesh

  2. atul goyal

    sir today L&T also stand upto its gain now what r ur analysis for this stock.sir actually i willl not b able to carry position forward iam having huge positions in it

  3. Bramesh Post author

    Dear Atul i have updated LT levels with chart plz have a look and trade as per levels.

  4. atul goyal

    sir i m long on larsen and toubro future from 1120 levels i will not be able to rollover those positions i have to cut the position in this expiry itself will i be able to recover some capital or had to book losses

  5. Bramesh Post author

    Levels are valid for day trade and swing trade both.

    Rgds,
    Bramesh

  6. neeraj

    r these levels valid only for intraday or we can trade in these stocks nextday also

  7. neeraj

    thanks sir 4 your calls are these levels for cash or future trade

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