Technical Analysis:Tata Motors,Axis bank and IDFC

By | December 19, 2011

 

Tata Motors

 

Flag Patter formation with repect to lower trendline and formation of higher lows make the stock technically strong and bullish in extreme short term.

Telco has been outperforming Nifty on relative terms.

Buy above 180.2 Tgt 183 and 187

 

Axis Bank

Axis Bank has  seen waterfall decline in past few days and stock has made a new 52 week low 828. Stock is entering into its long term support zone of 818-828 range from where the stock has bounced back many times in past.

Investors can use the decline till 810 to add axis bank in there long term portfolio.

 

Buy above 858 Tgt 869.1,889 and 897

Sell below 828 Tgt 812,800

IDFC

 

IDFC has been under pressure has whole lot of financials are getting corrected due to NPA issue. IDFC has held 102 on closing basis which shows strong hands are accumulating the stock on lower levels.

Stocks look oversold on technical indicators

Buy above 102 Tgt 104,105.9 and 107.9 Sl 100

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