Tisco - Retracement Target

It can be noted that Tisco has taken support from two previous retracemetn support @ 432 & @ 525.

Tata steel ( 556) next level can be 616 - 620 as per retracement on weekly chart.

Stop loss of 531 is must for the trade.

Please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

IBREAL - POSITIVE DIVERGENCE

As shown in the chart, there is a positive divergence between price & RSI on daily chart.

Ibreal(208) has an retracement resistance around 209 -212, above which the levels are

226 , 240 & 253.

Combining the two scenarios, IBREAL( 208) looks good for the target of 226( t1) & 240 (T2) with the stop loss of 203.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

BHARTI AIRTEL - WEEKLY SUPPORT

Bharti after breakin trend line support @ 330 has drop down to its next important support @ 271.

On weekly chart, the support is around 270 region, from where bharti can bounce back to 300 , 325 level.

Below this support, bharti can go back to 200 odd level.

Please go through Disclaimer on this blog.

Disclosure : I am holding positions in Bharti.

Nifty - Fibonacci Support

Nifty has Fibonacci support around 4690 & on friday Nifty has bounced from same level.

Lets watch how strong support it can be & how high the ball( read Nifty) will bounce.

Mondays bank holiday has given a life line to the support. At this time Dow has hit a century

(102) points in positive.