Bank nifty is moving in a long channel and is taking support at lower end of the channel. Bank nifty Monthly and weekly RSI is above 60 which is bullish and daily at 46 and is a clear case of GFS major support near 42000-41700
NIfty IT forming reverse Head and shoulder on daily chart and weekly taking support at 20DMA i.e. 28630 very good Risk Reward for long term prospective
Nifty metal - breakout abv resistance on weekly further weekly / monthly RSI is above 60 strong momentum
stocks to watch
LARSEN TURBO : GFS buy near 2100 SL 2080 Tgt 2240 +
PFC : GFS buy near 143 sl below 140 tgt 160
MPHASIS : forming bottom good buy near 2000 sl below 1970 tgt 2170 - 2433
INDIGO : GFS : breakout on daily buy near 2080 sl 2030 tgt all time high good momentum
Tata comm : GFS buy near 1360-1370 stop loss below 1310 tgt 1460 and 1500 (positional)
ABCAPITAL : forming flag pattern on weekly chart + consolidating after break out of cup pattern on weekly : buy near 142 Stop loss below 138 tgt 170 +
Please seek professional advise before investing. The views expressed are personal opinion of author for his study purpose (records) only and author is not a professional advisor on the subject. Author shall not be personally responsible for loss / discrepancies if any arising out of the above report