Technical Calls:RIL,SBIN and Raymonds

By | December 28, 2011

Raymonds

 

Raymonds have a excellent trade set up with good risk to reward ratio. Stock is oversold on daily charts and trading at lower end of trading range @321 as yesterdays fall was with negligible volumes as compared to previous trading sessions.

Buy above 327 Tgt 334,339 and 345 .

 

Reliance

RIL has been trading in the range of 745-765 from past 3 trading sessions. RIL move is harbinger for Nifty move. So watch this Stock closely for next 2 days as it can give us clue where Nifty will expire

 Breaking of 745 on closing basis stock will touch its wing low of 702,Breaking of 770 on upside will lead to 800-825 levels in short term.

Buy above 755 Tgt 766,779 and 789

Sell below 742 Tgt 732,719 and 704

State Bank of India

State bank of India will play a vital role if Nifty has to go  and break the barrier of 4801. Stock has been trading in  range of 1692-1633 and is on verge of breakout.Oversold on daily charts,preferred breakout should be on upside.

Buy above 1670 Tgt 1692,1718 and 1746

Sell below 1632 Tgt 1613,1592 and 1571

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