This is just a picture of how Nifty and some of its components are interestingly placed. Do your own research and this is not a buy/sell recommendation.
Nifty Technical Chart
- 7400-7450 and 7600-7630 remains a band for the index now.
- Overall continue to maintain the stance of being bullish for long term and this being a correction like 2011.
- Channel continues to remain in place 6700-7900 the major boundary for the same.
Some Nifty components
TCS - crosses 2400 but bunch of resistances at 2450-2480
SBI - 190 a short term resistance.
Reliance Inds --- A strong recovery from lows but 1050-1100 a problem zone for long time now.
Mahindra and Mahindra --- Bounce from exact supports. 1280 a resistance.
Lupin - This looks like one ugly chart after todays move.
Infosys - Was pretty firm in the correction. Will it cross 1200 and breakout ?
ICICI Bank --- 235-245 a tough resistance.
Hindustan Unilever - Can it breakout above 870
HDFC Bank --- 1040-1050 a resistance.
HDFC Limited --- Reversal after false breakdown but trend change above 1180-1200
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