Technical Calls:Bank Nifty,Larsen and Wipro

By | March 23, 2012 8:16 am

The losing traders have unrealistic expectations about the kind of profits they can make, typically shooting too high. They also debate with themselves before taking a trade, and even dwell on a trade well after it’s closed out. But the one big thing Williams noticed about this group was that they paid little attention to money management (i.e. defense).And the winners? This group has an intense focus on money management, and will voluntarily exit a trade if it’s not moving – even if it’s not losing money at that time! There is also very little internal dialogue about trade selection and trade management; this group just takes action instead of suffering analysis paralysis. Finally, the winning traders focused their attention on a small niche in the market or a few techniques, rather than trying to be able to do everything. Hopefully the second description fits you a little better, but if the first one seems a little too familiar.

Bank Nifty

Bank Nifty had a 3.3% fall yesterday but it stopped just at 10135. I have been discussing this level from past 3 days yesterday fall it respected this level.

Sell below 10135 Tgt 10030,9939 and 9848

Buy above 10220 Tgt 10297,10369 and 10459



Wipro is forming a symmetrical triangle.

Sell below 419 Tgt 416,411 and 403

Buy above 425 Tgt 428,432 and 438


Larsen and Tubro

LT has become a high beta,yesterday fall was not backed by volumes considering the quantum of fall.

Took support at trendline.

Buy above 1317 Tgt 1327, 1344 and 1369

Sell below 1288 Tgt 1277,1269 and 1260

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