Review of Important Nifty stocks.

NIFTY

On Weekly basis, Closing below 4940 then Nifty can target 4705 and 4575 with minor support at 4800. 


Now for the Uptrend to be intact Nifty has to close above 5080 for higher target 5237 / 5308 / 5511.

Reliance

Reliance 200 EMA @ 990, very important level to watch in near term. Immediate range is 980 to 1065. 


980 levels should offer some support for Reliance in coming week, otherwise can test 900 levels.

ICICI Bank

Below 850, the stock is weak to test the 780 to 745 levels, as mentioned in the previous review. 
Any bounce back from this oversold region could be utilized for selling the stocks near 836 to 845 levels with SL 856, or can buy around 782 levels with closing stop loss 780. 
200 DEMA is at 750 that could offer some support in near term.

DLF

DLF is trading below 200 DEMA, one of the weakest stocks in the Nifty 50 stocks. A close above 378 could change the bearish trend or any bounce back can be used to sell the stock with stop loss 378 for target 336 /320.

TATA STEEL

Tata steel is finding good support at 544 range, now it has to close above 570 levels for maintaining the uptrend to target 606 / 625 levels or could test 522 to 502 range once closes below 544.

BHEL

BHEL, if unable to cross 2365 levels then can test 2266/ 2222 levels. Buy on dips around Stop loss 2222.

INFOSYS

Strongest stock in Nifty 50, utilize any dips to buy this stock with stop loss 2325.

BHARTI ARTL

Bharti Artl, bounced from its low of 270’s to 348 levels, now the stock is consolidating around the 200 DEMA. If Bharti Artl consolidates around 310 to 320 levels, it can move towards 370 levels. Closing below 300 levels can take the stock to 254 to 228 levels. So, near term range for the stock is 300 to 330.

REL. INFRA

A weekly close below 1025 would signal weakness in this stock. Rel. Infra is making lower high, with descending triangle pattern, indicating lack of strength in the stock. A weekly close below 1025 would indicate further weakness for target 860 to 710. A close above 1190 would terminate the weakness in the stock.

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