Technical View on RIL,Tata Motots and Hindalco

By | May 19, 2011 2:41 am

Nifty has been correcting from past few trading sessions and technically looking week. I have analysis ed the chart of 3 Heavyweight (RIL,TELCO and Hindalco)which can give us clue about Nifty moves in coming Days.

Reliance Industries

RIL has done nothing from past 2 years.The above is Weekly chart of RIL for 2 years.RIL has been trading in the range from 880-1200 from past 2 years.

880 has been long term support.Break of that will not only have bearish implication on RIL but Index also.

Crimpson Red will the color your should fall in Love with if 880 levels break for RIL 😉

Watch out for 880 levels on Weekly Closing Basis in RIL,Next support will come at 850 than a Deep cut can come.

Will Follow RIL Closely for furthur moves in Nifty.

Levels for the Day

Sell below 898.3 TGt 892.5,882.2 and 866.6

Buy above 908 Tgt 917.5,923and 933


Tata Motors

Tata Motors has been a stock which has been in a Strong uptrend from past 2 years and every dip was a buying opportunity as can be seen in the chart.

200 DMA was very strong support for TATA MOTORS.

Stock has closed below its 200 DMA@1160 yesterday giving a bearish indication. If it is unable to cross and close above  1160 levels for

2 trading sessions,it would suggest the Bullish move in Stock has come to an end.

Levels for the Day

Sell below 1142.5 TGt 1131,1113 and 1085.6

Buy above 1160.6 Tgt 1177.5,1189 and 1205.2

Hindalco Industries

HIndalco another Index heavyweight is near its short term support around 194 levels where it has shown a good bounce from past 4 times.

Will it be 5th time Lucky?

Break of 194 opens the possibility for more downside and will put pressure on Nifty for more downside.

Levels for the Day

Sell below 194.3 TGt 192.5,190.2 and 188.6

Buy above 196.6 Tgt 198.5,200.6 and 202.2

2 thoughts on “Technical View on RIL,Tata Motots and Hindalco

  1. jonak

    Hi,,…can u give the percentage weightage these stocks have on the INDEX……Hindalco is forming a nice HnS right??


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