Large Caps On Radar–Airtel,Infratel, HDFC ,HDFC Bank, Icici Bank, Infosys, JSW Steel, Reliance & Sun Pharma

Nifty has given the first pause after hitting the 61.8% retracement zone of 10500-10550. Bank Nifty could not see follow up above 22000. The Broader markets have been resilient.

Nifty has moved in a nice higher top higher bottom formation from 7511. The bottoms being 8055/8806/9544 but a lot of Index names are in a very different trend. Some are in a sideways range, some dragging along, some in a box.

A lot of them are interestingly poised for a quick move.

Bharti Airtel – Getting boxed in a range. A 10% move on breaking out of the 540-585 range.

Bharti Infratel – 210-240 range. A good breakout if crosses 240. Can even head up to 300.

HDFC Bank – Dragging along.

HDFC Limited – 1850-1750 will decide next move.

ICICI Bank – Struggling at 380s.

Infosys – Dragging along. 690-740 range.

JSW Steel – Dragging along.

Reliance Inds – A buy on retest ?

SBI – A tough resistance at 200.

Sun Pharma – Kabhi haan Kabhi naah…. The Laggard and the Largest Pharma.

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