Technical view by Nooresh

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ITC – Short Term Topping out Pattern Posted: 18 Jul 2013 11:52 AM PDT     The longer term trend in ITC continues to remain bullish but in such trends corrections are warranted.   ITC is now reaching the upper end of the channel. RSI in highly overbought zone. After such moves the stock generally sees a correction back to the lower end of the channel.   Although a move above 380 on closing would negate the resistance a speculative trader may take shorts with stops at 380. The stock can dip to 345-350.   Nooresh Merani www.analyseindia.com   ( For all our services ) Twitter – https://twitter.com/nooreshtech Facebook – https://www.facebook.com/nooreshtech Related posts: USD – INR – Short Term Technical View BSE MIDCAP and BSE SMALL CAP INDEX – Down 6-8% from peak and re-testing breakout zones. Short term bottom possible in next couple of sessions SBI – Time to accumulate with long term view

Maruti – Trendline and Channel Support. Time to look for a bounce Posted: 18 Jul 2013 01:44 AM PDT   Technically the stock can reverse from 1400-1420 band which it touched yesterday and today and bounce to 1475. The major supports are placed at 1370-1380. A short term trade for a quick jump seems good with small stops.   Disclosure: recommended to clients   Nooresh Merani www.analyseindia.com   ( For all our services ) Twitter – https://twitter.com/nooreshtech Facebook – https://www.facebook.com/nooreshtech Related posts: Reliance Inds – Strong Support or Head and Shoulders ? Bank of Baroda – Oversold and retest of channel. Investment pick TV 18 – Momentum trade for 10-15%

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