Technical Analysis of Indian Equities by Nooresh

Interesting Large Cap Charts–Sun Pharma, SBI, ITC, Dabur,Bhel, Bharti Infratel, Bharat Electronics,Axis Bank

In the last post on large caps and Nifty we were looking out for a 300-400 pointer move on the index.

Nifty a 300-400 + pointer move on cards ?

Nifty at 11250-11300 has done the move.

Now looking at some interesting setups in a few large cap stocks.

As of now even the smallcaps are placed very interestingly for a possible strong bounce -

BSE Smallcap Index–Falling Wedge Formation. Can it Bounce ?

 

Sun Pharma

Sun Pharma – Major resistance at 590-600. Can it cross in coming months ?

SBI

SBI – Strong move after major bottoming out at 240-250. Long term trend change and now a buy on dips ?

ITC chart

ITC – Finally the stock has broken out above the 290 mark. Can it now go all the way to 360 ?

Dabur

Dabur – Another FMCG favorite which has continued in good momentum.After re-testing the breakout it seems set for a move beyond 395 and a fresh breakout move ?

Axis Bank Chart

Axis Bank – A short term breakout above 540. Can it test the major long term resistance at 600-620 ?

Now looking at a few stocks which have corrected a lot.

BHEL

BHEL --- A long term trend. Back to the 69-65 support. Can it hold on ?

Bharti Infratel

Bharti Infratel – 270-280 support can it hold on ?

BEL

Bharat Electronics – A major long term support at 90-100. Can it see a bounce to 120/150 ? .. Short term breakout above 108-110

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Article by Nooresh Merani

Nooresh has written 2683 articles.

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