Market updates for 12/12/2012

 

Tata Motors

 

 

Tata Motors is facing resistance around Rs.285. Wait for breakout above Rs.285 for continuation of up trend. It has trend line support around Rs.266 which can act as low risk entry level.

 

Bharti Airtel

 

 

Bharti Airtel had breached trend line resistance and reached a high of Rs.340. But now it has closed below the trend line support and oscilators like MACD and RSI are indicating sell. We have initiated short in Bharti at Rs.319 today it has closed at Rs.316 further fall is expected.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5950
Reversal if closes below	5680

 

Thought for the day

 

He alone is entitled to be called a man who possess a thoughtful nature and feel for others in the same way as he does for his own self , does not fear unjust , however powerful , but fears the truly virtuous , however weak. - Dayananda Saraswati