RELIANCE - SBI - ICICI - AXIS BANK ANALYSIS FOR 06/07/12

LAST CLOSE 739

ASCENDING TRIANGLE PATTERN FORMED 

HEIGHT OF PATTERN  IS 38

IF BREAKOUT HAPPEN  AND CLOSE ABOVE  @ 742

UPSIDE TARGET MAY BE  781 ????

WAIT AND SEE

LAST CLOSE @ 1044

YESTERDAY INDICATED ....IF BULLS CAN TRADE ABOVE 1040....WILL TAKE TO 1053....YESTERDAY MADE HIGH 1050

TODAY , WHAT TO EXPECT?

IF PRICE TRADE CAN SUSTAIN ABOVE 1045....WILL TOUCH 1053 AND 1058..

ABOVE 1058....NEXT RESISTANCE @ 1062

MAIN SUPPORT @ 1022 - 1015

MAIN RESISTANCE @ 1053 - 1072

LAST CLOSE @ 2233

YESTERDAY INDICATED.....TRADING ABOVE 2225 WILL TAKE TO 2244.

YESTERDAY MADE HIGH 2240

TODAY , WHAT TO EXPECT?

ABOVE 2235....WE CAN SEE RALLY UPTO 2244 .CROSSOVER 2244 WILL TAKE TO  2265 AND 2273.

BELOW 2230......SUPPORT @ 2212 AND 2200....THEREAFTER 2190 ACTING AS MAIN SUPPORT @ LOWER LEVELS.

LAST CLOSE @ 921

ABOVE 921....NEXT RESISTANCE @ 924 AND 931....THEREAFTER 940

SUPPORT @ 912 - 904 - 897