Technical Analysis:SBI,Axis Bank and PFC

By | January 29, 2013 7:59 am


SBISBI the main index contributor for Bank Nifty is very crucial juncture before the RBI policy, Stock has taken support at 2483 and resistance at downward trendline at 2533. Below 2483 stock can fall till 2424 odd levels and above 2533 2570 is on cards.

Buy above 2504 Tgt 2522,2550 and 2574 SL 2483

Sell below 2482 Tgt 2471,2450 and 2424 SL 2503


Axis Bank

Axis bank

Axis bank again bounced back from its trendline support of 1375 and bounced back till 1433.Today RBI policy Banks stock will be in focus and hence giving a good trading opportunity.

Buy above 1413 Tgt 1422,1430 and 1439 Sl 1406

Sell below 1404 Tgt 1398,1390 and 1382 Sl 1408



PFCPFC should always be on traders radar on RBI policy day as this stock give 3-4% move. PFC we discussed few days before formed an double top pattern at 214 corrected till 195 and again bounced back. 214 will again be a litmus test for stock.

Buy above 211 Tgt 212,213.8 and 216.5 SL 208.7

Sell below 208.5 Tgt 207,204 and 202.3 SL 210.8



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