Technical Calls:RIL,Axis Bank and REC limited

By | August 7, 2012

Education plays an important role in shaping the way traders think about trading. A formal business education can give you an edge in understanding the economy and the market in general–but it is no guarantee of success in trading. Most of the information you learned in a formal college setting will not give you the specific knowledge necessary to be a successful trader. To succeed in trading, you must learn to perceive opportunity where most others see none–and you must seek out the information which gives you the knowledge necessary for success.

Reliance Industries

RIL posted the biggest rally for 2012 with record volumes,suggesting the bull is getting up from slumber sleep.Now Looking at daily chart and Applying Fibonacci Fans to find potential tops and bottom of RIL shows 790 is major resistance and any move above it could take it back to 820 levels.

Pullback till 760-65 should be used to buy RIL

Buy above 790 TGt 796,803 and 810

Sell below 781 Tgt 774,768 and 763

 

Axis Bank

Axis bank limited trading range is going for contraction with formation of symmetrical triangle coming. Stock is respecting its trendline religiously with shows a breakout can come above 1075

Buy above 1075 Tgt 1082,1091 and 1107

Sell below 1063 Tgt 1054,1041 and 1036

Rec Limited

REC limited is following its rising trendline as support and resiting at its downward facing trendline. Stock needs a consolidation and a pullback till 200 levels to break the trendline.

Buy above 207.2 Tgt 210.7,212 and  214

Sell below 204.2 Tgt 201.9,200.5 and 197.9

2 thoughts on “Technical Calls:RIL,Axis Bank and REC limited

  1. sarangapani

    Dear Sir,
    Your research and analysis on stocks to be traded is excellent.I kindly request you to mail your comments to me.
    Thanking you.

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