Bajaj Auto

Bajaj Auto is approaching trend line resistance which is a profit booking region . Futures traders can short at those levels . Closing above trend line will be stop loss.

Sun Pharma

Sun Pharma is forming higher high and higher low from few weeks . If it breaks this region then further rally is possible.

Bharti Airtel

Bharti Airtel is trading at a major support level . Traders can buy for short to medium term.

Ambuja Cement

Ambuja Cement is taking support at Rs.150 . If it breaks this level on closing basis then further fall is likely .

REC

 

 

REC has bounced back from the low of Rs.166 . Now it is likely to reach Rs.195 where trend line resistance is situated.

JSW Steel

JSW Steel has made a spectacular rally in past few weeks . Now it has retraced  61.8% retracement . There are possibilities that it will hold this level . Lets see.

Technical updates on Nifty and KPIT

Nifty weekly chart

 Nifty is trading within a narrow range from few months . Now it is likely to reach lower part of the band which is 5980 . If it breaks this level on weekly basis then it can fall by 100-200 points.

Nifty monthly chart

 

 

Nifty is forming higher highs and higher lows in monthly chart which is a bullish sign. Now it is trading at the important resistance level . If it breaks this level (which may not happen till election) then it will certainly reach 7000.

KPIT

 

 

 

Monthly chart of KPIT proves the point that price movements are not random but they follow a pattern . KPIT tested resistance at 189 and now corrected . Investors should consider exit atleast partially and re enter if it breaks Rs.200.