Reliance has continued its consolidation phase in this week too and traded in the price band of 830-860 and Fridays closing was at 826.This is a strong support area for reliance if this breaks on Monday then it can go all the way down to 800 levels and this will make the stock to trade weak and resistance is at 860 levels and it has to close and trade above these levels then we can expect it to go at 890 levels.
As expected Ambuja cement consolidated around 178 levels but worrying sign is, it is gradually going down slowly and 178 level is a very tough resistance to cross for Ambuja cement in next week also this will consolidate around these levels of 168-178.
Bharti airtel is still facing tough resistance at 344 after spending more than two weeks it has not yet broken out of this range and the stock has been trading volatile .in this week we can expect it to break out of this range or else it will break the support of 321 and go down.
Hindalco on Friday formed a bearish harami pattern that to after crossing its resistance of 95 there are two scenarios either the stock will give up all its gains made in last week or stay above its resistance zone of 95 and cross the 100 mark.
Tata consultancy services has been losing ground slowly but this can be taken as a healthy correction as the stock has run up a lot and only closing below 1740 can be taken as a weak signal until then the stock market uptrend is intact .
Tata Motors has clearly zoom passed the level of 300 but this was on the back of quaterly numbers reported, but the stock has to stay above these levels then only we can tell that this stock is going to make any further up moves .Otherwise it will again fall back below 280 levels.
BHEL stuck to its range of 110-120 but on Friday it snapped and fell below the levels of 110 again making a new 52 week low again showing a weak outlook only above 125 levels we can expect positive strength.
Coal India is still around the levels of 262 and it looks it will spend some more time consolidating here and above 275 only uptrend is expected otherwise the stock is in a weak spot.
ITC stock was trading up in a positive zone at 335 levels until it snapped and closed below 325 where it was consolidating on the whole we can expect the stock to bounce back and again try to cross the levels of 335 and there is a strong support at 315 levels.