Stock Technical Views/Recommendations : 28th, June'10

AUTO SECTOR

AMTEK : The stock had an up rally continuous on 3rd day, it faces immediate resistence close to the level of 181.10, closing above this level may take up the stock till the levels of 190, while it faces support at 169.5, closing below this level may take down the stock till the levels of 155.

BHARAT FORGE : The stock faces immediate resistence close to the level of 298.95, closing above this level may take up the stock till the levels of 305 while it faces support at 282, closing below this level may take down the stock till the levels of 272.55.

BANK SECTOR

AXIS Bank : After making low of 662.15 which is 52 week low Axis Bank is continuously moving in an upward trend and now it is in a consolidation phase. Once it manage to cross level of 1277.10 it would in a upward trend below 1225 it would might face selling pressure and we can see it in a downward trend.

CANARA Bank : Canara Bank trades with the good volume it is moving in particular range from the last few trading session it is now taking resistance at 442.95 and support at 415.15. Once it manage to cross level of 422.95 it would in a upward trend below 415.15 it would might face selling pressure and we can see it in a downward trend.

CAPITAL GOODS SECTOR

ABB : Its trend is slightly bullish. it has resistance at the level of 905 and support at the level of 860. it still expected to move upwards. if it breaks its resistance then it reach to its next higher level.

Havells India : It is in side-wise trend. if it breaks the resistance of 645 then it could be seen at its next higher level and its support is at the level of 610.

IT SECTOR

INFOSYS : Long term trend of Infosys is bullish. It is bullish above to the level of 2870,if it crosses this level then it will make a new high, along with it has support of 2750.

WIPRO : Wipro is having very good support of 387, if it crosses this level then further 3% down can be expected, along with it has support of 397.

HCL : In short term HCL has been in down trend if it continues its trend and crosses the level of 352,then further 3-4% fall is expected as well as it has resistance of 366,which indicates the trend reversal.

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