Technical Analysis:Bank Nifty,HCL Tech and RIL

By | January 31, 2012 10:04 am

It’s all about sticking to your plan and experiencing feelings as they arise. If you are unwilling to feel your feelings, the temptation is to avoid them by jumping off your system.

Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.

Bank Nifty


Bank Nifty reacted from its 200 dma as shown in above chart. Stock is approaching its trendline support 9430. Break below this  will lead to gap filling till 9200 odd levels.

Sell below 9618 Tgt 9550,9450,9363 and 9268

Below 9268 Gap Filling Will start till 9200 odd levels


Reliance Industries

RIL reacted from its trendline resistance at 828. Made a fall till 100 SMA@792.

Today Opened gapped up and trading at 808.

Buy above 811 Tgt 818 and 828

Sell below 801 TGt 792,785 and 775

HCL Tech

HCL Tech has shown move above its trendline.


Buy above 437 Tgt 441,445 and 450

Sell below 430 Tgt 426,422 and415




Leave a Reply