Monday, January 11, 2010

Stock Ideas: Relcapital; Max India

I am combining two financial companies here: relcapital and max india. both have insurance as their business among other business and both are teasing major breakout levels.

Reliance Capital : CMP 917:

Stock on important crossroad
upside: Long with SL of 850
Target 1200-1300

short trade: Short now: with SL of 930, and reverse above 930 for target of 1200.
Refer commentary on chart..

Downside reverw below 850 target sub-700 levels

Max India: CMP: 221
The stock made a high of 235, however last 4 candle have been bearish candles. Today stock is up, however sustenance of the same needs to be seen. The stock is in short term bearish-ness however, keep an eye on this stock, there is massive Inverted Head and Shoulder.
Long term bull, short term pain. Close above 235, could make a mini-Inverted HnS with target of 235. 
Good support at 200, possible reversal level

Disclaimer: This is my personal view based on technical analysis. Take ur own call, this is not a financial advisory, always use stop loss.

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