Technical Analysis:Bank Nifty,ACC and REC

By | June 14, 2012

Bank Nifty

Bank Nifty is showing negative divergence after a 1200 points rally,break of 10000 which is trendline support is important for divergence to show effect.

Buy above 10142 Tgt 10223,10291 and 10369

Sell below 10060 Tgt 10000,9911 and 9893

 

REC

REC was covered here  after the triangle breakout and stock has rallied almost 12% from 160 odd levels. Now stock is at its crucial juncture of 181-182 resistance. Failing to cross the same will lead the stock back to 175-170 odd range.

  Buy above 182.8 TGt 184,185.7 and 189.7

Sell below 178.7 Tgt 175.8,171.8 and 168.9

 

ACC

ACC did a breakout and now is consolidation mode. Fresh buy only above 1196.

Buy above 1196 Tgt 1200,1205 and 1212

Sell below 1192 TGt 1187,1183 and 1175

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