Market updates for 16/01/2013

Axis Bank

Axis Bank has breached trend line resistance at Rs.1410. More over it is forming higher top and higher bottom formation which is a bullish sign. More up side is possible.

ITC

Before few trading sessions ITC breached trend line support at Rs.280 and made a low of Rs.273.  You can observe in the daily chart of ITC that it has once again closed above the trend line resistance and in fact ITC was one of the top gainers in today's trading session. We have initiated long in ITC.

Results on 16/01/2013

Bajaj Auto , Bajaj Holdings , Yes Bank , TTK Prestige 

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6068
Reversal if closes below	5800

 

Thought for the day

 

A leader is best when people barely know he exist , when his work is done , his aim is fulfilled , they will say we did it our self.  Loa Tzu