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Axis Bank and Lupin has potential for intra-day gains: Rajesh V

By Rajesh V

Axis Bank and Lupin will provide opportunities
Nifty Future (Refer Chart - Nifty)

Nifty has strong support at 5490 levels. Closing below this level will lead till 5425. One can buy Nifty futures at 5490 levels with a stop loss of 5472 for the target of 5550. Above 5556, Nifty may take a fresh pull back, in which case we can expect 5490 levels in intraday.


Nifty levels for the day
supports – 5505 / 5472 / 5453
resistances – 5555 / 5585 / 5605

Bank Nifty Future (Refer Chart - Bank Nifty)

Yesterday"s low of 10975 will remain key support for Bank Nifty. On the downside the support can also be at 10950 levels.

It is important that Bank Nifty trades above 11150 as that would set the trend for bull. Only it remains above this can we expect a pull back rally at intraday levels.

Resistances – 11105 / 11150 / 11220
Supports – 11020 / 10975 / 10900

Intra day call

Axis Bank
Buy above at Rs 1275.60
Stop loss at Rs 1265
Target price of Rs 1288

Buy at Rs 460
Stop loss at Rs 456
Target price of Rs 467 / 471

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for

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OneIndia Money DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Story first published: Wednesday, July 13, 2011, 8:54 [IST]
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