Technical updates on ITC

ITC weekly chart

ITC has once again breached trend line resistance. But it need to close above this level on weekly basis. If it happens then long can be considered.

Nifty medium term trend

 

Trend	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5898

Thought for the day

It is well to give when asked but it is better to give unasked, through understanding.

Break down??

In yesterday's post I had written about continuation of uptrend but today's fall indicates that Nifty has started short term down trend. Trend will remain down as long it is below 5885.

One of the individual stock which has started short term down trend is LT. Today's closing price is Rs.1392. Trend will remain down as long as it is below Rs.1435.

Nifty medium term trend

Trend	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5898

 

Thought for the day

It’s not who you are that holds you back.It’s who you think you’re not.

Technical updates on Nifty and Rel Cap

 

Nifty

In daily chart of Nifty it has closed above 200 DMA and it has also closed above descending trend line. Short term trend is up.

Rel Cap

Rel Cap was trading within a range from quite some time and today it has breached trend line resistance. Trend is likely to continue.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

 

Nifty medium term trend

Trend	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5898

Thought for the day

I arise in the morning torn between a desire to improve the world and a desire to enjoy the world. This makes it hard to plan the day.

Technical updates on Bank Nifty

Bank Nifty weekly chart

Bank Nifty has reached an important support level. Trend indicators in daily chart has indicated buy and I have initiated long in Bank Nifty. Initiating long after a significant rally may look like a stupid decision but I have to believe and follow my trading method . We can only follow a trend and according to me we will never know how long a given  trend will last.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

Nifty medium term trend 

Trend	DOWN
Initiation Date	23-05-13
Initiated at	5967
Low since change	5566

 

Thought for the day

Storms make trees roots take deeper

Technical updates on Tata Motors

Tata Motors daily chart

Tata Motors has breached major support at Rs.283 . It is likely to fall to Rs.260 in short term.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

Nifty medium term trend

Trend	DOWN
Initiation Date	23-05-13
Initiated at	5967
Low since change	5566

Thought for the day

I used to desire many, many things, but now I have just one desire, and thats to get rid of all my other desires.