Rajesh V says: Markets very volatile, opportunity in Axis bank and aban-offshore

By: Rajesh V
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Opportunity to profit in Axis bank and Aban-Offshore
Axis Bank: Quotes, News
BSE 490.70BSE Quote6.1 (1.24%)
NSE 490.40NSE Quote6.75 (1.38%)
Aban Offshore: Quotes, News
BSE 177.10BSE Quote7.95 (4.49%)
NSE 177.10NSE Quote8.2 (4.63%)
- Nifty Future (Refer chart- Nifty)

Nifty has to hold above 5110 levels, a close above this level will add strength in market.

Supports – 5110 / 5067 / 5040
Resistances – 5160 / 5186 / 5230

Bank Nifty future (Refer chart- Bank Nifty)

The last three days Bank Nifty closes above pivot level, then it will be considered positive for bulls; still today it has to close above 10250 to maintain its bull mood.

Supports – 10400 / 10345 / 10250/ 10195
Resistances – 10450 / 10520 / 10610 / 10670

Intra day calls

Aban offshore
Buy above Rs 406
Stop-loss Rs 401.50
Target Rs 411 / 415

Axis Bank
Buy above Rs1254
Stop-loss Rs 1240
Target Rs 1280

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 www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com

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Story first published: Thursday, August 11, 2011, 9:22 [IST]
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