SBI the banking behemoth has shown a breakout yesterday and today we need a follow up action. As shown in above chart clear cut break of trendline but stock need to close above 1710 to confirm breakout.
Buy above 1710 Tgt 1724,1746 and 1771
Sell below 1685 Tgt 1664,1637
RIL the poster boy of Indian Stock market rose almost 3% yesterday and made a close above 20 SMA@726,which makes the stock bullish in immediate short term. Unable to break 686-90 level on closing basis signify strong hands are accumulating stock in dips.
Yesterday it was a breakout and today we need to see the follow up action. Trend line resistance comes at 773 odd levels Short term positional traders can lighten up near the 770-73 resistance zone.
Buy above 739 TGt 746,756 and 773
Sell below 725 Tgt 719,702
On daily charts Infy is trading in a trading range of 1708-1785. Breakout will be soon as mentioned in below as per Weekly chart. Any Dips towards 2737 which is 200 DMA shall we bought into for short term traders.
On Weekly Charts Infosys has been respecting its trendline, This week candle is trading above the uppre trendline, precursor for buying at lower levels.
Most important levels to watch is 2887,Move above it will make the stock touch 2966 on upside.
On Downside break of 2817 will lead to 2793,2770 and 2737 (200 SMA)
If suppose today 2887 gets broken and Infy closes above 2900 Buy 2800 PE to hedge your position.