Technical Analysis:LT,IRB and DCB

By | April 23, 2012

Almost everyone says that discipline is a requirement to succeed in trading. But most people never talk about what really underlies that type of discipline. The answer……true self-confidence.

Larsen Tubro

Larsen and Tubro is forming a symmetrical triangle which is a precursor of a decisive move coming in LT.

Buy above 1294 Tgt 1314,1330 and 1351

Sell below 1272 Tgt 1260,1246 and 1231

IRB Infra

IRB Infra saw a quick fall from high of 206 to low of 189.6. 189-187 is an important support zone for IRB. Fall has been with extremely low volumes which signify weak hands are exiting out of stock.

Buy above 192.2 Tgt 195,197 and 200

Sell below 187 Tgt 183,178

 

DCB

DCB Weekly charts, Strong resistance at 51 and rising support emerging at 46.8 and 45 odd levels.

Buy above 48.15 Tgt 48.5,49.2 and 50

Sell below 46.8 Tgt 46.2,45.7 and 45.2

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