Technical Analysis:Mphasis,ICICI bank,Infosys and Sesa Goa

By | February 27, 2012

Feelings naturally appear during trading. The feelings we don’t like seem to have roots deep in our unresolved issues. Somehow they get stuck and do not finish passing through, and can cloud the judgment and interfere with trading. The feelings we do like seem to pass through quickly without much trace.

I suggest getting to know your feelings, by experiencing them, expressing them, letting them pass through and finding out they are pretty much all good ones.

Jet engines work best when they are open at both ends.

 

ICICI Bank

 

ICICI Bank has been declining for past 3 days trading in a downward channel,Trendline support lies at 901

Sell below 917 Tgt 905,895

Buy above 932 Tgt 944,957

 

Sesa Goa

 

Sesa Goa has been in limelight for its merger with Sterlite industries. basically transferring the debt of Sterlite to sesa goa balance sheet.  Stock is not liking it and corrected from highs of 266.

Technically Sesa Goa is now taking support at its trendline support at 222. Breaking below it will add more pressure to stock can correct till 215,201 odd levels.

Sell below 222 Tgt 217,212,209 and 202

Buy above 228 Tgt 232,237 and 242

Infosys

 

Infosys is trading around its supply zone 3000. Breaking the range of 3000-3023 can give a fresh breakout to the stock,Resisting again at 3000 can take the stock back to 2900 levels.

Buy above 2950 Tgt 2973,3000.

Positional trades can be intiated on a close above 3023 Tgt 3067,3100 and 3150

Sell below 2923 Tgt 2900 and 2871

 

Mphasis

 

Mphasis facing resistance at trendline at 422.

Buy above 424 Tgt 433,437 and 444

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