Thursday, January 7, 2010

Reliance Capital


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SBI & Icici Bank..


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Tata Steel- Technically still in upmode.

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RIL-Looks set for a big move..?

In daily close chart- It has broken out.
In day/week candle chart, it is at the channel resistance.
Since Post Election results of last year, this stock has been consolidating.
Either breaks out of 1120 & 1145 to much higher levels
OR correct towards 1025 & then launch into big move up..


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SBI, Icici Bank, Rel,Capital, Tata Steel-Follow up.

Tata steel seem to have completed a "5"; so did SAIL yesterday & reversed sharply. These are for sell on bounces with a close stop @ recent highs.
Others-SBI, Icici bank & Rel.Capital - Looks OB but no reversal sign yet.
Banking stocks could be a decider for the near term trend.



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Wednesday, January 6, 2010

Bank Nifty for a week.

Channel resistance comes at 9300-9310.
Only a firm trade above & then clearing 9440 will be bullish.
If resisted @ 9300+, it can come down to test the supports @ 9000 & lower.


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Stocks - Overbought with neg. div..

Stocks such as SBI, Icic bank & Rel Cap
seem to be in a triangle consolidation
with one more down to complete the triangle
before the final thrust up.
The final down can be either a deep or a shallow one.
TA also looks Overbought and in some
with negative divergences as in Tata Steel.




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Tuesday, January 5, 2010

Rel.Capital, SBI, Tisco, Icici Bank




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Sunday, January 3, 2010

SBI






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Icici bank





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Tata Steel.





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Reliance Capital





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