Nifty and Bank did some reversals from the levels posted in last post. 7980-8020 did the trick on Monday but it seems momentum missing in market. As far as Nifty stays above 8040-8060 or above its positive otherwise another round of selling can be witnessed.
Today we will discuss charts of Dollar along few IT names :
USDINR:
Dollar is at important junction now. Staying above 65.25 it managed to reach upper trend line. Any close above this trend line , the upper mentioned levels can be seen in quick time. Above 66.44 it will make higher high which will first signal of trend change. Keep close eye.
TCS:
TCS is consolodating in range from last one year. Soon its going to test the breakout it did 2 years back. The momentum can be soon seen in this counter. Either back in trend-line or to new high.
WIPRO:
Wipro also gave breakout in 2013 and from last 4-5 months consolodating and range contracting. Any move below 520 odd level back to previous supports other wise new high.
INFOSYS:
Infosys is trading channel from last 6 years. Made low in 2013 and its running good after that. Breaking the trend line will open new trajectory in this stock. Keep Close eye.
TECH MAHINDRA:
Similar lines, started rallying in 2013 and recently retested breakout.
FirstSource Solutions:
Similar patterns seen in some midcaps as well. FSL gave rally from 12 to 44 and its again standing near resistance. Any cross some good move expected.
All the stocks initiated good trend in 2013, one of the reason at that time was that Dollar gave huge breakout and rallied from 53 to 68. So if dollar again gave good breakout then we might see similar moves again.
Below are the long term charts of Dollar which suggest such move is possible again:
Dollar is currently at the bottom of trend line and any move beyond previous high will conform new trend.
NOTE: Above charts are shared from Learning purpose and these are not related to any BUY/SELL Tips.
Today we will discuss charts of Dollar along few IT names :
USDINR:
Dollar is at important junction now. Staying above 65.25 it managed to reach upper trend line. Any close above this trend line , the upper mentioned levels can be seen in quick time. Above 66.44 it will make higher high which will first signal of trend change. Keep close eye.
TCS:
TCS is consolodating in range from last one year. Soon its going to test the breakout it did 2 years back. The momentum can be soon seen in this counter. Either back in trend-line or to new high.
WIPRO:
Wipro also gave breakout in 2013 and from last 4-5 months consolodating and range contracting. Any move below 520 odd level back to previous supports other wise new high.
INFOSYS:
TECH MAHINDRA:
FirstSource Solutions:
Similar patterns seen in some midcaps as well. FSL gave rally from 12 to 44 and its again standing near resistance. Any cross some good move expected.
All the stocks initiated good trend in 2013, one of the reason at that time was that Dollar gave huge breakout and rallied from 53 to 68. So if dollar again gave good breakout then we might see similar moves again.
Below are the long term charts of Dollar which suggest such move is possible again:
Dollar is currently at the bottom of trend line and any move beyond previous high will conform new trend.
NOTE: Above charts are shared from Learning purpose and these are not related to any BUY/SELL Tips.
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