Technical Analysis of Indian Equities by Nooresh

Large Cap Charts–Breakouts in IT and Fakeouts in Banking

Banking and Financials are no more the leaders and very clearly some private bank breakout
moves failed miserably.
Axis Bank – Gap up and then Flop. !! 410-420 now a support.

Will it continue to play breakout and fakeout

 

 

 

 

 

 

 

 

ICICI Bank – 380-400 not able to sustain and now testing the support.

 

 

 

 

 

 

 

 

It will need to be seen if HDFC and Kotak Bank breakout or fakeout. Would not bet on the breakout.

Would expect the same whipsaws on both side like axis and icici.

Even if it does breakout would better give it a pass.

HDFC Limited – Yet again at 1900-1950.

 

 

 

 

 

 

 

 

Kotak Bank – Will it breakout the 1400 mark… Or just a fakeout.

 

 

 

 

 

 

 

 

 

IT Sector has been the clear leader with Infosys,HCL Tech and many others piercing through

resistances and all time highs easily.

The next flight to Safety – TCS Limited – Quite a few attempts at 2300-2350,

A breakout could be a trending move.

 

 

 

 

 

 

 

 

BAJAJ FINANCE – 3100-3050 a critical support.

 

 

 

 

 

 

 

 

 

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Article by Nooresh Merani

Nooresh has written 2751 articles.

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{ 2 comments… add one }
  • BRAHMA July 29, 2020, 01:27

    Nooresh sir, in place of HDFC BANK Chart, you posted hdfc chart. this is for your kind information

    Reply
  • Rahul July 29, 2020, 08:56

    Nice

    Reply

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