Technical Charts:Idea,M&M and HDIL

By | November 18, 2011 7:39 am


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Few Stocks charts based on Readers request..


Idea is in an uptrending market and spiked up on news of addition to MCI index.

Support is at 95 lower end of trendline and resistance at 103..

Basically trading range between 95-103.Yesterday formed an Inside day candlestick pattern which signify big move ahead in IDEA

Buy above 100 TGt 101,102.3 and 103.1

SEll below 97.6 Tgt 96.2,95




I have covered the Stock in my 4 Oct post and as said stock reached 78 and close below it.

Going forward stock is at its another long term support of rs72, Breach of same will lead to 60 odd level. Real estate is out of demand sector and weakest in bounce back.


Sell below 71 Tgt 66,62 and 59



M&M is taking a beating based as market results did not met the expectation,stock is taking support at 754which is its lower support of trendline and 100 DMA also.

Break of 754 will lead the stock back to its 200 DMA@720.

Sell below 749 Tgt 739,725 and 720

Buy above 763 Tgt 773,788 and 797


3 thoughts on “Technical Charts:Idea,M&M and HDIL

  1. Debanjan

    Hi Brahmesh,

    Keep up your good work.. I have queries regarding Tata Motors and Tata Steel. Would like to hear from you regarding the two scrips. And moreover I want your suggestion to procure which stock in the current market scenario which can fetch handsome returns within a time frame of 9-12 months.



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