Technical Calls:Canara Bank,SBI and TCS

By | May 24, 2012

SBIN

SBIN is facing resistance at 1980,Break of 1980 can take it back to 2040.On downside break of 1920 will lead to unwinding of longs

Sell below 1920 TGt 1896,1872 and 1844

Buy above 1980 Tgt 2003,2032 and 2069

 

TCS

TCS has done nothing in may series and is one of the main reason why Nifty has not cracked below 4788 as TCS has not cracked. Weakness has slowly started creeping into this as it start trading below 20 DMA@1234.  Break of 1194 will lead to move till 50 DMA and 2000 DMA.

Sell below 1225 TGt 1214,1203 and 1194

Buy above 1242 Tgt 1248,1257 and 1264

 

 

Canara Bank

Canara Bank has seen confluene of trendline and breakout or breakdown is on the verge.

Sell below 383 Tgt381,376 and 372

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