Sunday, October 24, 2010

Top 4 banks that I track almost every few minutes - because they account for 70% of the Index I trade

Of the 4 charts shown below - AXISBANK & HDFCBANK can be traded for a bounce to Monthly VWAP. More than HDFCBANK, I like AXISBANk for a bounce


Neutral on SBI - although if it bounces to 3266-3284 it could be a good one to try @short position

SBIN:
HDFCBANK:
Although HDFCBANK has got 2 rejection of VWAPs already - so if it fails to cross Monthly VAL of 2374 (well give it +/-8 points), it could correct all the way to 2268 - previous month's VAL
ICICIBANK:
I don't like this crap bank - neither for trading nor for doing business! 
Anyway its stuck in a range. Results to be announced on 29th Oct
 
AXISBANK:
The chart looks very good to play for a bounce. Target can be VWAP @1545 - SL can be close to 1460 - below that it can be an easy short for target of 1422 (prev month's VAL)

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