SBI, Rel Infra and M&M Technical Analysis

By | May 3, 2013

Reliance Infra

Rel Infra

Rel Infra has been rising steadily from 315 levels and is near an important resistance of 395, unable to cross 50 SMA can see pullback in stock.Last time it touch 50 SMA @524 and corrected till 315. So tomorrow is an important day of trading.

Buy above 398 Tgt 405,412 and 420 SL 395

Sell below 385 Tgt 378,373 and 368 SL 388

 

SBI

SBI

SBI has broken out of its uptrending channel and facing resistance at downward falling trendline.Above 2326 it gives a breakout else we can see much expected pullback 2200

Buy above 2308 Tgt 2327,2343 and 2360 SL 2294

Sell below 2290 Tgt 2270,2240 and 2210 SL 2300

 

M&M

M&MM&M has formed bullish engulfing pattern rose with volume and is approaching the resistance level of 974.

Buy above 960 Tgt 968,974 and 980 SL 953

Sell below 943 Tgt 937,931 and 921 SL 946

  • 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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