Technical Views - Equities 6th June 2011
NIFTY
TREND :The major supports still exists at 5520 and 5610. Though 5520 ws breached but could not sustain. We will look to sell below 5520 again today. for a target of 5450.
SIGNAL : Use buy and sell signals of TDI - BS on the breach of 5541 - 5577 range.
BankNifty
TREND : Our sell call generated 100 points on friday. For today we would be sellers again but on the higher ranges of 10800-10840. Stoploss for shorts is 10865. No longs for today.
SIGNAL : Use sell signals of TDI - BS for the day
STOCK PICK ONGC
TREND : Very good consolidation on the charts is visible. Breach of 279 - 286 should be traded. Handsome profits can be made on this Stock.
SIGNAL: avoid signals
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