SBI,BHEL and Bajaj Auto Technical View

By | March 14, 2013

SBIN

SBI

SBI made the high of 2236 on budget day which was exact its rising trendline resistance as shown in above chart.SBI made a low of 2051 and than having a slow and steady rise.Stock is approaching a crucial resistance region of 2263-2284 which needs to be watched closely .

Buy above 2262 Tgt 2284,2300 and 2323 SL 2255

Sell below 2250 Tgt 2227,2200 and 2188 SL 2255

High risk positional traders can short the stock in range of 2280-84 keeping sl of 2290 tgt 2165

 

BHEL

BHEL

BHEL is taking support at its downward falling trendline with formation of inside day candelstick pattern suggesting explosive move round the corner.

Buy above 199 Tgt 201,202.5 and 205 Sl 198

Sell below 196 Tgt 194,192 and 190 SL 197

Bajaj Auto

Bajaj Auto

Bajaj Auto is trading in its downward falling channel , stock reacted from the high of 2021 and has fallen till 1843 in matter of 4 trading sessions. Stock is trading at lower end of channel and bounceback can be expected.

Buy above 1864 Tgt 1881,1891 and 1911 SL 1855

Sell below 1843 Tgt 1834,1814 and 1800 SL 1855

  • All prices relate to the NSE Spot
  • Calls are based on the previous trading day’s price activity.
  • The call is valid for the next trading session only unless otherwise mentioned.
  • Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
  • Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

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