Technical Analysis:Bata India,ICICI Bank and Jindal Saw

By | February 29, 2012

When a position is getting ready to stop you out at a loss, do you find yourself bargaining with the name? Do you find your frustration level rising? Do you justify the reason for the move against you, and give it a little more room, only to get stopped out at a bigger loss? Or even worse, perhaps you now find yourself sitting on a double-digit loss, and are frozen with what to do with this now sinking ship? And perhaps the biggest fear for a trader is closing out a position only to see it run back in their favor moments later. Trust me when I say that every trader, seasoned or not, has these moments when stop levels are hit and they hesitate with pulling the trigger

Bata India

Bata India is facing supply near its all time high of 717-729. If Nifty goes past 5400 chances are there for bata india to make a fresh all time high.

Head and Shoulder pattern will also get active with a break of trendline at 730. (I generally do not rely this pattern)

Buy above 717 Tgt 723,729,737 and 757

Sell below 702 Tgt 690,682 and 670

 

 

Jindal Saw

Jindal Saw is giving indication of giving breakout after huge consolidation band between 108-164. This stock was darling stock of traders once and lost its sheen but seems good days are back again if it able to break and close above 166 on weekly basis.

Buy above 166.4 Tgt 170.2,173 and 176

Sell below 161 Tgt 158,156 and 152

 

ICICI Bank

ICICI bank we have been tracking 3 days before,it threatened to break the channel on downside with a low at 881. Yesterday the stock quickly jumped into the channel and faced resistance at 920 as shown in above chart.

Buy above 922 Tgt 933,946

Sell below 908 Tgt 897,884

 

 

One thought on “Technical Analysis:Bata India,ICICI Bank and Jindal Saw

  1. Chirag

    Super analysis….
    Could you plz have a look on GMDC and suggest a plan to trade with it….

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