SBI has been falling relentlessly from 2535 till 2276, As discussed on 29 Jan unable to cross 2550 SBI can start short term decline, Stock took support at 2420 levels for 3 days as soon as closed below 2420 downside breakout happened with a quick decline till 2276. SBI is now at important support of 100 DMA @2290. As seen in past stock consolidates near 100 DMA for 2-3 trading sessions and ultimately show a move up. Will it be 3 time lucky?
Buy above 2302 Tgt 2325,2343 and 2365 SL 2285
Sell below 2275 Tgt 2260,2240 and 2200 SL 2285
IVRCL we covered extensively during the panic fall in mid January, after breaking 37 which was multiple support, it has become a resistance which IVRCL is unable to break.Now IVRCL has formed a small descending triangle with base at 31. Break of 31 will lead to again important support of 28. Descending triangle pattern target,once 31 is broken on closing basis comes to Rs 26 in 1 month time frame.
Buy above 31.7 Tgt 32.2,33 and 33.5 SL 31
Sell below 30.8 Tgt 30.3,29.5 and 28.6 Sl 31.3
TCS was on rise after Cognizant gave better than expected results, Stock rose with volumes but unable to cross the swing high og 1440. Till 1440 is not broken short term trend remain Sell on Rise with Strict sl of 1440.
Sell below 1414 Tgt 1394,1385 and 1365 Sl 1422
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