NBFC stocks have been in strong uptrend and of late some of them are trading at life time high .Mahindra Fin , Dewan Housing Fin, Shriram Transport , GIC housing fin , Bajaj Auto Fin : all of them are trading at their new highs.Some of the PSU banks like Canara Bank is also at life time high. Well, from a trading perspective new highs will result in newer highs as stocks do not face any resistance and one should buy . From an investment perspective one should wait for dips to enter.
Mahindra and Mahindra Finance has support at 475-480 and resistances are at 550-580.
Tata Motors has support at 770 and resistances are at 823-855.
In mid cap IT one can also look at 3 I infotech with support at 63 and resistance at 75
Tuesday, July 13, 2010
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