SBI has formed long bullish candle formation, further strength is expecting.

 

STATE BANK OF INDIA (SBI)

Charts updated for - 16th February 2015.

• Stock has formed bullish candle formation in daily chart, this indicates further strength is expecting.
• On upper side SBI will now find strong resistance around 313 as shown above. Close Watch.
• Reliance Ind stock trading ideas.

RELIANCE INDUSTRIES closed above its major resistance 915, bulls will be favored as long as holds above.

RELIANCE INDUSTRIES

Charts updated on - 16th February 2015.

• Stock has closed above its major golden ratio resistance zone, chart indicates as long as Reliance Inds holds above 943 bulls will be favored and further price rise can be seen in coming days.
• If stock moves up further then it will find next strong resistance around 943.
• ICICI bank stock trading tips.

NIFTY FUTURE finding strong golden ratio resistance around current levels.

NIFTY FUTURE CHART ANALYSIS

Charts updated On - 16th February 2015.

• Nifty futures currently finding strong golden ratio resistance at current levels, chart indicates as long as it holds above bulls will be favored.
• Weakness expecting if Nifty futures starts trading  below 8827. Close Watch.
• Bank Nifty tips.

Sensex closes above 29000 (+290) and Nifty above 8800 (+93.95)

The market showed very good performance on Friday, rose over a percent led by earnings from SBI and M&M. Positive global news also supported stock market. The Bombay stock exchange Sensex closed above the 29000 level for the first time since February 3, continuing upside for the fourth trading session.

The NSE Nifty also climbed over 8800 in late trade, up 93.95 points. Banks, FMCG, auto, healthcare and some infrastructure stocks helped the market rally.

State Bank of India (SBI) rose 8% t after posting a stellar set of earnings. Another strong earnings came in from Mahindra & Mahindra. The stock rallied 5% after its earnings beat estimates. An exceptional gain of Rs 299 crore aided profit. BPCL turned profitable with the net profit at Rs 551 cr against loss of Rs 1,089 crore  in same quarter last fiscal. The stock gained 2.4 %.

Some other shares like TCS, ITC, ICICI Bank, HDFC, Wipro, Maruti Suzuki and Hero Motocorp were prominent gainers, up 1-3%. Global cues were strong today as major indices gained with Shanghai and Hang Seng rose 1%. Brent crude climbed over USD 60 a barrel, up 1.25% today

SUZLON ENERGY made a bullish breakout, further strength can be seen as long as stock holds above 18.55.

SUZlON ENERGY

Charts updated on - 16th February 2015.

• Stock made a bullish breakout as it closed above its recent top.
• Suzlon previous resistance will now act a major support.
• As long as stock holds above 18.55 bulls will be favored and further strength can be seen. Close Watch.
• Click here for  SBI stock trading tips.

RELIANCE POWER moving up from lows, close watch on fibonacci retracement resistance zone.

RELIANCE POWER

Charts updated on - 16th February 2015.

• Stock moving up from lows, close watch now close watch on resistance levels as per fibonacci retracement, once Reliance Power closes and holds above resistance level mention then we can see some bullish action. Close Watch.
• Click for Reliance Infra Stock Tips.

RELIANCE COMMUNICATIONS moving up from bottom, close watch on resistance.

RELIANCE COMMUNICATIONS

Charts updated on - 16th February 2015.

• Stock currently moving up from low, if moves up further then levels to watch out for (fibonacci retracement) around 73.25, 75 and 77.25.
• On down side Reliance Communication will find support around 66.50.