Technical updates on Rel Infra and Axis Bank

 

Rel Infra

As you can see in the above chart REL Infra is trading at important support level in weekly chart and hence down trend is temporarily halted. Closing below the trend line will lead to further decline.

Axis Bank

Axis Bank has closed below trend line support in daily chart for two consecutive trading session. As long as it is below this trend line support trend will remain down.

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

When you speak, speak the truth; perform when you promise; discharge your trust... Withhold your hands from striking, and from taking that which is unlawful and bad...- Dr.Abdul Kalam