Technical Stock Analysis:Andhra Bank,Rec Limited and Hindalco Industries

By | November 21, 2012

Not having a plan. Get a plan, who cares if it is bad, start with something. You can build off of it and refine it. You have to be willing to spend the time to make the plan yours. You do not start anything without some level of planning. Trading is hard; your brain spends a lot of time in fast forward, affecting your memory. You can slow it down by having a plan and increase your brains ability to remember. A plan makes it possible to improve. Most importantly, a plan gives you a chance at removing emotion.

Andhra Bank

Andhra Bank has formed a Double Bottom stock chart pattern. Holding 99.7 stock can see a quick rally, Unable to protect 99.7 stock could see levels upto 92 in short term

 

Buy above 100.3 Tgt 101.5,102.3 and 103.3

Sell below 99.5 Tgt 98.3,97.1 and 96.2

 

Hindalco Industries

Hindalco is approaching multiple support levels of 103-104 region and bounce back should be expected from this levels.

Buy above 106.5 Tgt 108,110 and 112

Sell below 104.6 Tgt 103.6,102.2 and 100

 

Rec Limited

REC is near its trendline support of 214. Stock should hold the same for the uptrend to sustain, failure to do so will lead to further downmove till 205

 

Buy above 215.5 Tgt 217.6,218.6 and 220.2

Sell below 212 Tgt 210,208.7 and 206.6

Sell below 213 Tgt

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