INDIAN INDICES
As mentioned in previous blog, Nifty financial service was on the verge of breakout. Bank Nifty gained almost 10% where as NIFTY gained about 2.3%. Smallcap index and Midcap index gained about 3.67% and 2.28%.
NIFTY PSU BANK
NIFTY PSU BANK has given BO from ascending triangle pattern, It can rally further till 200 DEMA which is at 1750. Another 10% rally in PSU Bank's cannot be ruled out.
AXIS BANK
AXIS Bank has given breakout from ascending triangle on daily and weekly chart after consolidating for almost 5 months. Target will be 600 rs.
UPL - (United Phosphorous ltd)
UPL - Ltd has given breakout from resistance level around 500 rs. Momentum indicator RSI is bullish. Target will be 615 rs.
BANK OF BARODA
Bank of Baroda has broken out of triangle pattern. RSI indicator is showing bullish momentum. Target 65 rs.
ABB INDIA
ABB India is making inverse head and shoulder pattern on daily chart. Stock will have momentum above 1050 rs once it crosses 200 DEMA. Target price are 1150 and 1300 rs.
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