Mighty Nifty, BN & stocks - A review.
Price is consolidating in the range 16500 – 16700. Bullish above 16700 for targets 16760, 16800, 16860, 16920 and 16980. Bearish below 16480 for the targets 16420, 16380, 16320, 16280 and 16200.
Reliance – Double top resistance @ 2400 – 2410. Mildly bearish.
HDFC – Trend line support – neutral.
Infy – Consolidation –neutral.
TCS – Trend line support – neutral.
Bank Nifty is at trend line support now. Sustaining 34680 – 34720 will make the price to move towards 34860, 34980, 35160, 35340, 35560, 35800 and 35940. Bearish below 34300 for the targets 34120, 33960, 33800, 33660, 33500, 33320 and 33200.
ICICIBank - @ trend line support – neutral.
HDFCBank – Consolidation – no trend.
SBIN – Consolidation – no trend.
Kotak Bank - @ trend line support –neutral.
Axis bank – Descending triangle – bearish.
Since most of the stocks consolidated with no strength in trend, further movement will decide the trend direction.
All the best...
Reliance – Double top resistance @ 2400 – 2410. Mildly bearish.
HDFC – Trend line support – neutral.
Infy – Consolidation –neutral.
TCS – Trend line support – neutral.
Bank Nifty is at trend line support now. Sustaining 34680 – 34720 will make the price to move towards 34860, 34980, 35160, 35340, 35560, 35800 and 35940. Bearish below 34300 for the targets 34120, 33960, 33800, 33660, 33500, 33320 and 33200.
ICICIBank - @ trend line support – neutral.
HDFCBank – Consolidation – no trend.
SBIN – Consolidation – no trend.
Kotak Bank - @ trend line support –neutral.
Axis bank – Descending triangle – bearish.
Since most of the stocks consolidated with no strength in trend, further movement will decide the trend direction.
All the best...
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