AXIS - ICICI -SBI ANALYSIS FOR 01/08/12

YESTERDAY INDICATES....BELOW 1038...TAKE TO 1022 (MADE LOW 1022) AND IF TRADE ABOVE 1040...TAKE TO 1051 AND 1058...(MADE HIGH 1057)

TODAY, WHAT TO EXPECT?

LAST CLOSE @ 1044

TRADE ABOVE 1044....MAY TOUCH 1051 AND 1057 LEVELS...

THEREAFTER 1062 ACT AS HURDLE FOR BULLS

SUPPORT @ 1038

BELOW 1038.....CAN SEE NON STOP SLIDE UPTO 1023 AND 1016 LEVELS....

YESTERDAY WE HAD WRITTEN....ABOVE 2032...BULLS TAKE TO 2040 - 2049 LEVELS.(MADE HIGH 2045) AND TRADE BELOW 2040.....CAN SEE FREE FALL UPTO 1975 

( MADE LOW 1968)

TODAY ....ABOVE 2005...HURDLES @ 2015 AND 2018 LEVELS.

THEREAFTER 2030 AND 2040 ARE TARGETS FOR BULLS

TRADING BELOW 2015....INDICATES  WEAKNESS

SUPPOSE TRADE AND SUSTAIN  BELOW 2005...BEARS TRY TO HIT 1974 - 1968 LEVELS.

THEREAFTER .......1954....TARGET FOR BEARS

WAIT AND SEE TO KNOW POWER OF CHART

YESTERDAY WRITTEN....ABOVE 965...RESISTANCE @ 970 (MADE HIGH 973)

 AND SUPPORT @ 957 AND  950 (MADE LOW 950)

TODAY...TRADING ABOVE 962...TAKE TO 970 AND 973

CROSSOVER 973....BULLS TRY TO KISS 982

TRADING BELOW 962.....SUPPORT @  957 AND 951

BREAK BELOW 951....SUPPORT @ 945