MAHINDRA AND MAHINDRA moving in range bound zone.

MAHINDRA AND MAHINDRA

• Stock moving in range bound zone , this indicates as long as stock moving in between in range then trend is not clear.
• Stock also moving up from 200 DMA this will favor bulls as long as stock holds above.
• Even stock major trend indicator "MACD" is moving in zig zag mode, this indicates trend is not clear.
• On upper side stock will find resistance around 1336 and stock will find support around 1200. Close Watch.

SESA STERLITE moving in down channel formation.

SESA STERLITE

• Stock moving in down channel formation, this indicates as long as moving in between its pattern bears will be favored.
• Stock previous support @ 219 is now acting as a major resistance, as long as trades below bears will be favored.
• On down side stock will find strong support @ 191, once it closes and holds below 191 then further price fall can be seen in SESA. Close Watch.

JINDAL STEEL has formed descending triangle formation.

JINDAL STEEL

• Stock has formed descending triangle formation in daily chart, this indicates sharp movement expecting once stock comes out from its formation.
• Stock also trading below 50 DMA, indicates as long as trades below bears will be favored.
• Levels to watch out for -- Support @ 125 and resistance @ 156.50 and 173.
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POLARIS FINANCIAL coming down from 50 days moving average.

POLARIS FINANCIAL TECHNOLOGIES

• Stock currently coming down from 50% fibonacci retracement resistance zone.
• Stock also finding strong 50 DMA, as long as holds below bears will be favored.
• On down side stock will find strong trend line support around 159, once stock closes and holds below 159 then further weakness can be seen. Close Watch.
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BAJAJ AUTO moving up from strong trend line support zone.

BAJAJ AUTO

• Stock moving up from strong trend line support zone, this indicates as long as stock holds above bulls will be favored.
• Stock also bounce back from 23.6% fibonacci retracement @ 2432, this too will favor bulls .
• As per moving average studies as long as stock holds above 100 DMA further price rise can be seen. Close Watch.
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BIOCON moving in down channel formation.

BIOCON

• Stock moving in down channel formation, this indicates as long as BIOCON moving in down pattern bears will be favored.
• Stock also coming down from 200 days moving average resistance zone, this indicates bears will be favored as long as trades below 200 DMA.
• On down side stock will find strong trend line support @ 408, once stock closes and holds below 408 then further weakness can be seen. Close Watch.
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TATA STEEL coming down from 23.6% fibonacci retracement.

TATA STEEL

• Stock currently witnessing selling pressure from 23.6% fibonacci retracement, this indicates as long as stock holds below bears will be favored.
• TATA STEEL also trading below 10 DMA this will favor day trader as long as it holds below 10 DMA.
• On down side stock will find trend line support @ 387. Once stock closes and holds below 387 then further weakness can be seen. Close Watch.
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ACC LTD has formed double bottom formation.

ACC LTD

• Stock has formed double bottom formation in daily chart, this indicates once stock comes out from formation then sharp movement can be seen.
• Currently ACC is holding below 200 DMA, as long as holds below bears will be favored.
• Technical indicates once closes and holds below 1354 then further price fall can be seen. Close Watch.
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RANBAXY LABS facing strong golden ratio support @ 609.

RANBAXY LABS

• Stock facing golden ratio support at current levels , chart indicates weakness expecting once stock closes and holds below 609.
• Ranbaxy also finding 100 day moving average, trading above 100 DMA bulls will be favored, and below 100 DMA bears will be favored.
• Technical chart indicates weakness can be seen once stock closes and holds  below 609. Close Watch.
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