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

Technical updates on Bank Nifty and JSW Steel

Bank Nifty

Bank Nifty is in down trend and in today's trading session it has lost significant 300 points. It has closed at trend line support level which was expected.Check updates on Feb 10 th.

http://karthik4bullsnbears.blogspot.in/2013/02/technical-updates-on-nifty-and-bank.html

What next ??

Trend remains down and we will continue to hold short with tight stop loss.

JSW Steel

JSW is trading below support level. Weekly close below this level will lead to further fall.

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

Thinking is progress. Non-thinking is stagnation of the individual, organization and the country. Thinking leads to action. Knowledge without action is useless and irrelevant. Knowledge with action, converts adversity into prosperity -Dr. Abdul Kalam

Technical updates on Hexaware and HUL

Hexaware

Hexaware has tested previous bottom at Rs.72 and bounced back. Trend indicator in daily chart has indicated buy and trend is expected to remain up for medium term. Since IT sector is outperforming Hexaware is likely to participate.

HUL

HUL has started uptrend and as long as it is above Rs.460 trend will remain up.

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

Thinking should become your capital asset, no matter whatever ups and downs you come across in your life - Abdul Kalam

Technical updates on JSW Steel and Wipro

JSW Steel

JSW Steel has managed to hold trend line support at Rs.780 and now it has bounced back. Long position can be created if it closes above Rs.826.

Wipro

Wipro has breached trend line resistance at Rs.405. It can face resistance around Rs.417 and once it sustains above this level it can go to Rs.430.

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

Have you ever felt trapped in circumstances, then discovered that the only trap was your own lack of vision, lack of courage, or failure to see that you had better options? - Nick Vijucic

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.

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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