Saturday, July 11

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

Reading Time: 3 minutes

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 Airtel

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

Bharti Infratel

HDFC Bank – Dragging along.

hdfc bank

HDFC Limited – 1850-1750 will decide next move.


ICICI Bank – Struggling at 380s.


Infosys – Dragging along. 690-740 range.


JSW Steel – Dragging along.

JSW Steel

Reliance Inds – A buy on retest ?

Reliance Inds

SBI – A tough resistance at 200.


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

Sun Pharma


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DISCLOSURE Nooresh Merani

Securities covered above:  All mentioned in the above post

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Financial Interest:

Nooresh Merani and his family/associates/ analysts would have exposure in the securities mentioned in the above report/article.

Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

Nooresh Merani and his family/associates/ analysts have not received any compensation from the company/third party covered in the above report/article ever.

Nooresh Merani and his family/associates/ analysts  has not served as an officer, director or employee of company covered in the report/article and has not been engaged in market-making activity of the company covered in the report/article.

The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

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Source: Technical Analysis of Indian Equities by Nooresh

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