Technical Call:Bank Nifty,Tata Motors and Kotak Bank

By | June 1, 2012

Every trader comes in thinking they will make money, in fact if they have never traded, they probably have convinced themselves fully. They spend time looking for all the answers in charts but it is in the process. It seems like easy money. It is not easy but it is probably the best way to make money. The best of anything takes more work.

Bank Nifty

Bank NIfty has closed below 200 DMA and as discussed in last evening post FII are having highest OI in bank nifty from past 2 years so we can expect a good move in June series for Bank Nifty.

Sell below 9360 Tgt 9307,9254 and 9198

Buy above 9426 Tgt 9492,9546 and 9613

TATA Motors

TATA Motors has seen a fall from life time  high volumes from 283-230 in 3 days and in the process formed 2 gaps as shown in above chart.

Break of 230 will lead the stock to move towards 220 which is its 200 DMA.

Sell below 229 TGt 225,223 and 220

Buy above 235 Tgt 238,243 and 246

 

Kotak Bank

Kotak bank is trading in a channel and breakout is offing with a sustained move above 566. Unable to cross the same will lead the stock back to its firm support of 100 DMA

Buy above 566 Tgt 569,575 and 581

Sell below 557 Tgt 553,548 and 541

 

 

2 thoughts on “Technical Call:Bank Nifty,Tata Motors and Kotak Bank

  1. hemantkumar mehta

    please provide current trend. i.e 4th june 12. jay shriman narayan.

  2. MBSHIVA

    Yes sir, I am one of them who can be a perfect example of what you have mentioned in the opening line. Adversity in the market and the time that I have spent in the markets have made me wise but not necessarily rich. What I have learnt in markets is, If you are backed by Saraswathi then Lakshmi will come your way and not the other way around. Many thanks for the wonderful website, May god bless you.

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