Technical Analysis:Bank Nifty,Ashok Leyland and Indusind

By | April 12, 2012 7:35 am

One of the most important things that people don’t handle is their Emotional Risk. When emotions run high, the quality of decisions goes down. It is very important to learn how to react to your emotions and thus increase your profits.

Bank Nifty

Bank Nifty show a decent pullback yesterday in late afternoon session but got resisted at 20 SMA@10310. Also 50 SMA@10362 is major resistance coupled with trendline resistance as shown in above chart.

Buy above 10256 Tgt 10329, 10362,10443 and 10502

Sell below 10194 Tgt 10080,10000 and 9945

Ashok Leyland

We covered Ashok Leyland on 4 April and It achived its target on downside at 30.1. Stock is back to 29, Sustaining above this level can see the stock giving a relief rally.

Buy above 29.2 Tgt 29.45,29.75 and 30.3

Use Dips near 28.45 to buy for a quick bounce as its near its trendline support.

Indusind Bank

Indusind bank formed a gravestone doji with multiple resistance at 334-337. Stocks looks like for a reversal if unable to cross 337 on a closing basis.

Sell below 328.2 Tgt 325.6,321.3 and 316.7

Buy above 332.5 Tgt 335,337 and 339



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