Technical Analysis Report of Stocks

Stocks Included:

1.) Reliance petroleum 2.) Aban Offshore 3.) Gitanjali Gems 4.) Bharat Forge 5.) LIC housing finance 6.) Tata Tele Mahatashtra 7.) Vijaya Bank 8.) Reliance industries

RELIANCE PETROLEUM LTD.

• Short term Trend is Upwards.
• Closest Resistance is 137. Closes Support is 125.
• It is going up and forming an overall scallop shape(when seen on weekly charts) signifying slow accumulation at lower levels of 100 and 120.
• If break and sustains above 150, may indicate start of a major bull run,with a target of 190- 195 .
• RSI is consistently above 50 level signifying overall uptrend .
• MACD on weekly basis is about to go for a bulli sh crossover.

Can Buy with SL at 120.

ABAN OFFSHORE LTD.

• Short term trend is upwards since it is making series of higher lows. After june 20 10.weekly trend is down since the crash of .January 2008.
• Significant support levels are 798 and 815.
• If it breaks below 798 it may fall in a quick succession.
• RSI on weekly chart confirms Downtrend by staying below 50 for a long period of time.

GITANJALl GEMS

• Short term trend is strongly upward.
• Closest Support is 170(since it is the broken support).
• Both RSI and Stochastics bouncing back from 50 area confirm sustained uptrend.
• Weekly Trend is strongly upwards.this movement from 100 to 200 odd levels seem to be strong wave 3 .some correction is expected before it resumes the longer term uptrend.(wave 5 of uptrend)

Can be bought at retracements.

BHARAT FORGE

• Short term trend is Upwards with key support at 3 17.
• If the stock remains above this parti cular level,the next target is 390(whi ch is a potential resistance point and also a Fibonacci projection of wave 5.
• RSI does not give any indication s of weakness.
• Weekly Trend is upwards. Recent movement from 240 to 345 indicates strength in uptrend

Can be bought with sl at 295.

LIC LTD.

• Daily Trend is Upwards
• Closes support area is 1 11 6.
• RSI is constantly above 50 levels from march 20 1O.signifying continued strength.
• MACD is in buy mode in daily as well as weekly charts.
• Some correction is expected (seems overstretched on the daily charts) before the trend resumes on the upside

Can be bought at retracements.

TATA TELESERVICES MAHARASHTRA LTD.

• Short term trend is upwards s ince june 2010.
• Very strong resistance at 25 levels.
• Closest support is at 22.50
• Longer term trend as depicted by weekly charts is down because it is making series of lower highs and subsequent lower lows .
• RSI on weekly charts is taking resistance from October 2009 onwards Signifying long term downtrend.

Can be bought after strong breakout above 25.

VIJAYA BANK LTD.

• Short term trend is upwards. the ternd has intensified after breakout above 57 on 01/06/20 10.
• As long as price remains above 68,it will continue to rise by making series of higher lows.
• The price is way above 20 DMA signifying intense downtrend
• RSI is constantly aboe 50 levels in both daily and weekly charts confirming the uptrend since early 2009.

Hold long with trailing SL (currently 68).

RELIANCE INDUSTRIES LTD.

• Range bound movement between 11 50 and 975. for one year now.
• Short term trend is down since early june for it is making a series oflower highs.
• A break above or below these levels will start at trend in that direction.Volumes must be present in case of upside breakout.
• RSI is meandering over and below 50 levels signifying the rangebound movement for a long period now.

Stay NEUTRAL until breakout happens.