SBIN

The counter has been trading in the range of 249 to 250 for the last few sessions. However during last session it formed a very strong bullish candle on a daily chart. Besides it has been consistently respecting its 20 & 50 DMA on a closing basis. With other technical indicators turning quite bullish we expect the counter to continue its northward journey in near future. 257 is the next major hurdle as per daily & weekly analysis. Any close above 257 and we may see non-stop rally up to 270-275 levels. Reasonable SL is below 240.

Disclaimer: We have already initiated positional long on the counter from 241 levels to our paid subscribers.

Heromotoco

The counter today pared all Intraday gains  and again found a stiff resistance around 2680 levels. Today's move was backed the decent volumes. Though the counter is consistently respecting its 200 DMA, looking at today's reversal it seems that bears took the full control of the day and it might be vulnerable in coming sessions. Besides other technical indicators too are looking weak reinforcing the bearish view. Short position can be initiated at current levels with SL of 2635 for probable down fall up to 2510-2502 levels.

Havells India

The counter witnessed a very sharp bounce back from its strong support area around 238 marks. It quickly captured its short term moving averages on a daily chart and is consistently respecting them on a closing basis. It seems that it has developed a classical Falling Wedge Chart Pattern on a daily chart. With other technical indicators looking quite bullish we expect the counter to challenge its 200 DMA in a near term. Traders can bet on the counter 263.35 SL 252 (CLS) TGT 275-278.