Technical Analysis of Indian Equities by Nooresh

HDFC Bank , SBI poised crucially….

SBI :

If we see in the chart the levels of 960-1000 is an important technical level with many parameters like trendlines , channels , fibonacci.
The stock needs to climb back frm closer to 1000 levels in coming weeks or in a breakdown below 960 could see 840-700 in some panic sell.


HDFC Bank :

800 zone is a very important technical level for the stock from different parameters like prev supports , fibo levels, patterns etc.

The stock needs to cover above 850 zone sooner or in a breakdown could also see 650 zones.

The above two charts are being just looked through a technical point of view . Both are in crucial stages. The above two stocks could be pivotals for the next move for Sensex which is either crossing 8300 or 9300.

Best Regards,

Nooresh

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noorrock2002@gmail.com meraninooresh@yahoo.com


Article by Nooresh Merani

Nooresh has written 2613 articles.

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