Technical Analysis of HCL Tech and JET Airways

By | June 25, 2010 3:03 am


HCL showed a sharpp bounce from 353 Levels which is coincidentally its 200 SMA,but on shorter time frame failed to cross above its trendline as indicated on charts

MACD is showing a sell signal,RSI moved into near oversold zones,Trade can be intiated both on long and short side depending upon levels given

Buy above 372 tgt 380 and 388 sl 370

Sell below 353 tgt 344 and 337 sl 360


When we last visited this stock our two tgts got achived.Click on the link to visit the post

Now at 547 a trendline resistance is coming,which if not crossed can halt the rally which we are seeing in past few trading sessions.

Buy above 547 tgt 552 and 557

Sell below  536 tgt 530 and 526

Targets are small and can be achieved intra day.

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