Technical Analysis of Indian Equities by Nooresh

Power Grid and Lic Housing Technical Charts

LicHousing

 

LIC Housing :

After the drop has finally consolidated for quite some time in a range of 160-200.

Sustaining above 198-200 could take the stock to 220 levels in quick time.

Traders can keep a watch.

 

PowerGrid

 

Power Grid:

Although its a very sluggish stock but its giving indications of a possible breakout on upside.

Can be a quick 100 to 105 move in near term. Traders can keep a watch.

 

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Regards,

 

Nooresh

nooreshtech@analyseindia.com

Article by Nooresh Merani

Nooresh has written 2556 articles.

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{ 2 comments… add one }
  • kalyan February 20, 2011, 20:36

    me and also few people anticipated an inv h&s pattern in lic. i think it is not inv h&s. wud u coment

    Reply
    • nooresh February 21, 2011, 08:03

      Hi Kalyan,

      Yes LIC got pulled down above 198-200 gave a small pop to 205. So one needs to keep smaller stops and trail it to conserve profits and reduce losses in such markets. Above all reduce volumes till market finds a good trend.

      Reply

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