In the last post on large caps and Nifty we were looking out for a 300-400 pointer move on the index.
Nifty a 300-400 + pointer move on cards ?
Nifty at 11250-11300 has done the move.
Now looking at some interesting setups in a few large cap stocks.
As of now even the smallcaps are placed very interestingly for a possible strong bounce -
BSE Smallcap Index–Falling Wedge Formation. Can it Bounce ?
Sun Pharma – Major resistance at 590-600. Can it cross in coming months ?
SBI – Strong move after major bottoming out at 240-250. Long term trend change and now a buy on dips ?
ITC – Finally the stock has broken out above the 290 mark. Can it now go all the way to 360 ?
Dabur – Another FMCG favorite which has continued in good momentum.After re-testing the breakout it seems set for a move beyond 395 and a fresh breakout move ?
Axis Bank – A short term breakout above 540. Can it test the major long term resistance at 600-620 ?
Now looking at a few stocks which have corrected a lot.
BHEL --- A long term trend. Back to the 69-65 support. Can it hold on ?
Bharti Infratel – 270-280 support can it hold on ?
Bharat Electronics – A major long term support at 90-100. Can it see a bounce to 120/150 ? .. Short term breakout above 108-110
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