Castrol India - Above 62% Yearly Fibonacci

Thursday, July 24, 2014

CMP: 339
Castrol India is a fundamentally strong bet and has crossed its yearly 62% Fibonacci level on closing yesterday.

Click Here to read detailed info and our earlier recommendation at 280.

Its a defensive bet and moves slowly, but steadily. Since markets are at a high, buying this defensive bet makes more sense.

Swing traders can look for short term target of 360.

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Reliance Industries - Above 62% Yearly Fibonacci Levels

Monday, July 21, 2014

CMP: 997
Reliance today has closed above 62% Yearly Fibonacci levels.

It just recently hit highs of above 1100 and corrected from those levels and is now looking to move back towards those levels.

Short term traders can look to go long and hold it for the next 2-3 months.

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PSU Banks - Fibonacci Cross Over (62%)

Tuesday, July 15, 2014

4 PSU banks crossed 62% Yearly Fibonacci Level yesterday and all of them have corrected sharply off 52 week highs. They have the potentials for reversal and give decent upside in coming days.

The 4 PSU Banks are Allahabad Bank, Bank of India, IOB and Oriental Bank of Commerce


CMP: 118  (Allahabad Bank)



CMP: 273  (Bank Of India)


CMP: 71 (IOB)

















CMP: 284 (Oriental Bank of Commerce)


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