Technical Analysis:RIL,Wipro and ICICI Bank

By | February 3, 2012

“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it’s important not to be emotionally attached to large profits. I’ve certainly made some of my worst trades after long periods of winning. When you’re on a big winning streak, there’s a temptation to think that you’re doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.” – William Eckhardt

Reliance Industries

 

 

 

RIL facing its trendline resistance and 200 DMA @842.Stock was unable to break 200 DMA at one shot.

Buy above 832 Tgt 837,843 and 856

Sell below 821 Tgt 813,802 and 792

 

Wipro Limited

 

Wipro showed a good bump up yesterday but now as its laxman rekha 429 Break of same will lead to higher levels

Buy above 429 Tgt 432,438 and 444

Sell below 422 Tgt 416,410 and 406

 

ICICI Bank

 

ICICI Bank facing trendline resistance 911 and from past 2 days is correcting from that level.ICICI has strong support at 876. Break of same will lead to a fall till 848 easily

Sell below 897 Tgt 888,876 and 865

Add more shorts below 876

 

One thought on “Technical Analysis:RIL,Wipro and ICICI Bank

  1. Sandeep Kumar

    Hi,

    can you benefit us from you view on IDFC at current level, many traders are seeking help due to lower court verdict tomorrow. Y’day it was done aprx 5% and today it recovered y’day’s losses. Well I am on bullish side for this stock and appreciate you can guide with your view for next week and specially for Monday.

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