Tuesday, May 06, 2014

Support @ 6703

Dear All,

>>> Click the chart to see on full screen <<<

Choppy market today also. Means - directionless ahead of election results. Will it continue till May 15th is a unknown question of the moment.
So as per chart 6702-6703 remains a support of a small triangle like, if holds the support may get tested at 6760. Else may drift on the downside to test 6660 or 6640.

>>> HDFC Bank - As Updated on 30th April 2014 <<<

>>> Click the chart to see on full screen <<<

On 30th April we wrote HDFC is looking for an upmove, Lets see what happened.

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<

Yes we continue to remain long in this counter as per levels given here. Since the bottom channel as shown on chart breaks, Upmove intact.

>>> Wipro - As Updated on 29th April, 2014 <<<

>>> Click the chart to see on full screen <<<

Wrote about wipro that - it may come down before an upmove. See what happened ?

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<

As expected wipro came down and tested the channel line as shown on chart. Now if holds the line then expect a good bounce from here.

>>> IDFC <<<

>>> Click the chart to see on full screen <<<

IDFC - As we have discussed on a weekly reivew - If I'm not wrong - then its a good bet if holds above 107.50. We are long in this counter. Lets See.