Technical Analysis of Indian Equities by Nooresh

IDBI , IRB Infra, Cairn and Sensex Technical View

IDBI :

Idbi has seen good volume built up recently. Buy if crosses 128 with a stoploss of 123 and target price of 140 in short term.

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CAIRN : The stock can give a sharp move above 318-320 resistance zone. Buy only on crossover above 320 for a target of 332/345 in 2 weeks.

IRB Infra: Buy only on crossover above 298 for a target price of 315 in extreme short term. Stop loss on trade initiation 290.

 

Sensex Technical View:

Sensex has bounced back from the 50 day exponential moving average which comes around the 17300-17400 band. On the upside 17650/17900 are strong resistances. Till we don’t cross above 17900 the range would continue to remain with stock specific view.

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Article by Nooresh Merani

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