Technical updates on JSW Steel , SBI and HDFC Bank

Tomorrow is the last trading day of this week . So here are updates of JSW Steel , SBI and HDFC Banks which are based on weekly charts. All entries should be based on tomorrow's close.

JSW Steel

JSW Steel s in down trend from past few days. Now it has reached major support at Rs.780. This will the last hope for JSW Steel. Break out from this level will lead to further fall.

SBI

SBI is trading below trend line support. Trend remains down as long as it is below Rs.2290.

HDFC Bank

Regular readers of this blog might remember that in one of the previous posts I had explained possible bounce back in HDFC Bank. We have initiated long at Rs.665 and we are holding it.

Do you think that this blog is useful ?Do you think that this blog is supporting you to enhance your knowledge about trading? Do you think that this blog is facilitating your trading ? If yes please do a favor share this blog with your trading friends. Thank you.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

 

... to keep moving up ... , you have to abandon the security of that ledge and reach for another hold. Letting go of that sense of security.. is the challenge. ... think of yourself as climbing a ladder. To move to the next rung, you must give up your grip and reach for the next one  - Nick Vijucic