Patel Engineering Ltd. CMP—RS 136.60
Technical Outlook & Trading Strategy:-
The share price of Patel Engineering has taken support & seems to be making a triple bottom at the support levels of Rs 131--132 levels.
It has shown a reversal bar at this level, suggesting that the bottom is in place.We expect the stock price to continue its upward movement and believe that it could test levels of Rs 144 /Rs 48 shortly.
We recommend a buy at current price and on pullback to the level of Rs 134--Rs 133 with stop loss placed below Rs 131.Everest Kanto Cylinder Ltd. CMP - Rs 80.05
Technical Outlook & Trading Strategy:-
The EKC has seen a sharp fall from a high of Rs 139.95 on 5th Nov 2010 to a low of Rs 63 on 10th Feb 2011.
Then the stock has retraced 38.2% of the previous fall to a high of Rs 95.15 on 15th June 2011.
The recent pullback has formed the shape of a Rising channel albeit with a slightly longer time frame of twenty odd weeks.
On the daily chart the stock has broken the lower rising trend line of the channel. The momentum indicators on the daily chart are also in a bearish zone suggesting more downside in the stock.
We recommend traders to sell 50% now and again in the range of Rs 81 – Rs 82 levels with a stop loss placed above Rs 83.6 levels for targets of Rs 75.5 – Rs 72 levels, expected to be achieved over the coming few trading sessions.
Monday, June 27, 2011
Saturday, June 25, 2011
TRADING RECOMMENDATIONS 25th June
Patel Engineering Ltd. CMP—Rs 136.60
Technical Outlook & Trading Strategy:-
The share price of Patel Engineering has taken support & seems to be making a triple bottom at the support levels of Rs 131--Rs 132 levels.
It has shown a reversal bar at this level, suggesting that the bottom is in place.
We expect the stock price to continue its upward movement and believe that it could test
levels of Rs 144 / Rs 148 shortly.
We recommend a buy at current price and on pullback to the level of Rs 134--Rs 133 with stop loss placed below Rs 131.Everest Kanto Cylinder Ltd. CMP - Rs 80.05
Technical Outlook & Trading Strategy:-
The EKC has seen a sharp fall from a high of Rs 139.95 on 5th Nov 2010 to a low of Rs 63 on 10th Feb 2011.
Then the stock has retraced 38.2% of the previous fall to a high of Rs 95.15 on 15th June 2011.
The recent pullback has formed the shape of a Rising channel albeit with a slightly longer time frame of twenty odd weeks. On the daily chart the stock has broken the lower rising trend line of the channel.
The momentum indicators on the daily chart are also in a bearish zone suggesting more
downside in the stock.
We recommend traders to sell 50% now and again in the range of Rs 81 – Rs 82 levels with a stop loss placed above Rs 83.6 levels for targets of Rs 75.5 – Rs 72 levels, expected to be achieved over the coming few trading sessions.
Technical Outlook & Trading Strategy:-
The share price of Patel Engineering has taken support & seems to be making a triple bottom at the support levels of Rs 131--Rs 132 levels.
It has shown a reversal bar at this level, suggesting that the bottom is in place.
We expect the stock price to continue its upward movement and believe that it could test
levels of Rs 144 / Rs 148 shortly.
We recommend a buy at current price and on pullback to the level of Rs 134--Rs 133 with stop loss placed below Rs 131.Everest Kanto Cylinder Ltd. CMP - Rs 80.05
Technical Outlook & Trading Strategy:-
The EKC has seen a sharp fall from a high of Rs 139.95 on 5th Nov 2010 to a low of Rs 63 on 10th Feb 2011.
Then the stock has retraced 38.2% of the previous fall to a high of Rs 95.15 on 15th June 2011.
The recent pullback has formed the shape of a Rising channel albeit with a slightly longer time frame of twenty odd weeks. On the daily chart the stock has broken the lower rising trend line of the channel.
The momentum indicators on the daily chart are also in a bearish zone suggesting more
downside in the stock.
We recommend traders to sell 50% now and again in the range of Rs 81 – Rs 82 levels with a stop loss placed above Rs 83.6 levels for targets of Rs 75.5 – Rs 72 levels, expected to be achieved over the coming few trading sessions.
Friday, June 24, 2011
TRADING RECOMMENDATIONS 24th June
Patel Engineering Ltd. CMP—Rs 136.60
Technical Outlook & Trading Strategy:-
The share price of Patel Engineering has taken support & seems to be making a triple bottom at the support levels of Rs 131--Rs 132 levels.
It has shown a reversal bar at this level, suggesting that the bottom is in place.
We expect the stock price to continue its upward movement and believe that it could test levels of Rs 144 / Rs 148 shortly.
We recommend a buy at current price and on pullback to the level of Rs 134--Rs 133 with stop loss placed below Rs 131.Everest Kanto Cylinder Ltd. CMP - Rs 80.05
Technical Outlook & Trading Strategy:-
The EKC has seen a sharp fall from a high of Rs 139.95 on 5th Nov 2010 to a low of Rs 63 on 10th Feb 2011.
Then the stock has retraced 38.2% of the previous fall to a high of Rs 95.15 on 15th June 2011.
The recent pullback has formed the shape of a Rising channel albeit with a slightly longer time frame of twenty odd weeks.
On the daily chart the stock has broken the lower rising trend line of the channel.
The momentum indicators on the daily chart are also in a bearish zone suggesting more downside in the stock.
We recommend traders to sell 50% now and again in the range of Rs 81 – Rs 82 levels with a stop loss placed above Rs 83.6 levels for targets of Rs 75.5 – Rs 72 levels, expected to be achieved over the coming few trading sessions.
Technical Outlook & Trading Strategy:-
The share price of Patel Engineering has taken support & seems to be making a triple bottom at the support levels of Rs 131--Rs 132 levels.
It has shown a reversal bar at this level, suggesting that the bottom is in place.
We expect the stock price to continue its upward movement and believe that it could test levels of Rs 144 / Rs 148 shortly.
We recommend a buy at current price and on pullback to the level of Rs 134--Rs 133 with stop loss placed below Rs 131.Everest Kanto Cylinder Ltd. CMP - Rs 80.05
Technical Outlook & Trading Strategy:-
The EKC has seen a sharp fall from a high of Rs 139.95 on 5th Nov 2010 to a low of Rs 63 on 10th Feb 2011.
Then the stock has retraced 38.2% of the previous fall to a high of Rs 95.15 on 15th June 2011.
The recent pullback has formed the shape of a Rising channel albeit with a slightly longer time frame of twenty odd weeks.
On the daily chart the stock has broken the lower rising trend line of the channel.
The momentum indicators on the daily chart are also in a bearish zone suggesting more downside in the stock.
We recommend traders to sell 50% now and again in the range of Rs 81 – Rs 82 levels with a stop loss placed above Rs 83.6 levels for targets of Rs 75.5 – Rs 72 levels, expected to be achieved over the coming few trading sessions.
Thursday, June 23, 2011
TRADING RECOMMENDATIONS 23rd June
Lupin Ltd. CMP—Rs 425.85
Technical Outlook & Trading Strategy:-
The share price movement of Lupin has registered a breakdown from its Head and Shoulder pattern. This
is a bearish formation and the measuring implications suggest that the stock price could decline to the
levels of Rs 412.50 / Rs 404 in the near future. On the oscillators front the ADX has already given a sell
signal with bearish crossover suggesting build up on the downside.
Traders can look to sell at current levels with a stop placed above Rs 438.60 for the aforementioned
targets.
Reliance Media Works Ltd. CMP - Rs 115.30
Technical Outlook & Trading Strategy:-
The share price of Reliance Media works appears to have broken down from its downward sloping trendline support. Such a breakdown is likely to have negative implications for the stock price. We expect strong declines to occur in the next few sessions and believe that the technical set up suggests
that the stock price could test the levels of Rs 111 / Rs 108.
Short positions can be initiated at current level and again on pullbacks to the levels of Rs 117- Rs118 with
a stop loss placed above Rs 119.60
Friday, June 17, 2011
TRADING RECOMMENDATIONS 17th June
Grasim Ind. Ltd: (CMP Rs 2610.20)
We recommend going short in this counter.
Technical Outlook:-
The share price movement of Grasim has registered a break down from its Head & shoulder formation. This is a bearish formation
and measuring implications suggest that the stock price could decline to the levels of Rs 2100 / Rs 2050 / Rs 2000 in the near future.
The momentum indicators are placed firmly below their respective trigger lines and are in bearish mode.
Suggested Trading Strategy:-
Traders can look to sell at current levels with a stop placed above Rs 2216.60 for the above mentioned targets.
We recommend going short in this counter.
Technical Outlook:-
The share price movement of Grasim has registered a break down from its Head & shoulder formation. This is a bearish formation
and measuring implications suggest that the stock price could decline to the levels of Rs 2100 / Rs 2050 / Rs 2000 in the near future.
The momentum indicators are placed firmly below their respective trigger lines and are in bearish mode.
Suggested Trading Strategy:-
Traders can look to sell at current levels with a stop placed above Rs 2216.60 for the above mentioned targets.
Thursday, June 16, 2011
TRADING RECOMMENDATIONS 15th June
Reliance Infrastructure Ltd: (CMP Rs 563.90) We recommend going long in this counter.
Technical Outlook:-
The most important observation to be made on the charts of Reliance Infrastructure is the positive divergence displayed by indicators.
signal that the downward movement of the price could have lost force and in all likelihood give some kind of an advance.
In the short term we expect the share price to advance towards the target of Rs 585 / Rs 595 levels.
Suggested Trading Strategy:-
We recommend buying the stock above Rs 567 levels with a stoploss placed below Rs 549 levels, for the above mentioned targets.
Technical Outlook:-
The most important observation to be made on the charts of Reliance Infrastructure is the positive divergence displayed by indicators.
signal that the downward movement of the price could have lost force and in all likelihood give some kind of an advance.
In the short term we expect the share price to advance towards the target of Rs 585 / Rs 595 levels.
Suggested Trading Strategy:-
We recommend buying the stock above Rs 567 levels with a stoploss placed below Rs 549 levels, for the above mentioned targets.
Wednesday, June 15, 2011
TRADING RECOMMENDATIONS 14th June
India Info line Ltd (CMP Rs 84.95):
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of India Info line appears to have broken above its rising trend line.
We believe that this breakout suggest strength and indicate possible price advance to levels of Rs 89 /Rs 92 in the near future.
The stock is also trading above all of its key moving averages which are also a sign of strength in the counter.
The MACD indicator is also in rising mode.
Suggested Trading Strategy:-
We recommend buying the stock at current with stop loss placed below Rs 82.50 levels for the above mentioned targets.
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of India Info line appears to have broken above its rising trend line.
We believe that this breakout suggest strength and indicate possible price advance to levels of Rs 89 /Rs 92 in the near future.
The stock is also trading above all of its key moving averages which are also a sign of strength in the counter.
The MACD indicator is also in rising mode.
Suggested Trading Strategy:-
We recommend buying the stock at current with stop loss placed below Rs 82.50 levels for the above mentioned targets.
Tuesday, June 14, 2011
TRADING RECOMMENDATIONS 13th June
Hindalco Industries Ltd (CMP Rs 180.35):
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of Hindalco appears to have broken down from its downward sloping trend line support.
Such a breakdown is likelyto have negative implications for the stock price.
We expect strong declines to occur in the next few sessions and believe that thetechnical set up suggests that the stock price could test the levels of Rs 173 / Rs 168.
The momentum indicators have also given asell signal.
Suggested Trading Strategy:-
Thus, Traders can take short positions at current levels with a stop loss placed above Rs 186.20 levels for the above mentionedtargets.
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of Hindalco appears to have broken down from its downward sloping trend line support.
Such a breakdown is likelyto have negative implications for the stock price.
We expect strong declines to occur in the next few sessions and believe that thetechnical set up suggests that the stock price could test the levels of Rs 173 / Rs 168.
The momentum indicators have also given asell signal.
Suggested Trading Strategy:-
Thus, Traders can take short positions at current levels with a stop loss placed above Rs 186.20 levels for the above mentionedtargets.
Monday, June 13, 2011
TRADING RECOMMENDATIONS 11th June
ACC Ltd. CMP— Rs 1003.50
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of ACC has registered a breakdown from its cluster of short term and long term moving averages.
The momentum indicators remain in the declining trajectory and indicate weakness.
We believe that the stock price could test its next support levels of Rs 970 and below that the share price movement is likely to decline further for targets of Rs 940 shortly.
Suggested Trading Strategy:-
We recommend sell at current price and again on pullbacks to the level of Rs 1017-Rs 1021 with stop loss placed above Rs 1038.
Alok Industries Ltd CMP— Rs 27.50 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Alok Industries appears to be taking form of an Inverted Head & Shoulder pattern on the weekly Chart.
An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline.
In the case of Alok Industries the neckline is placed at the levels of Rs 27.75.
The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 29.50 / Rs 30.50.
The momentum indicators have started rising upwards indicating an up move in the prices.
Suggested Trading Strategy:-
We recommend traders to buy above Rs 27.75 with a stop placed below Rs 26.85 levels for the above mentioned price targets
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of ACC has registered a breakdown from its cluster of short term and long term moving averages.
The momentum indicators remain in the declining trajectory and indicate weakness.
We believe that the stock price could test its next support levels of Rs 970 and below that the share price movement is likely to decline further for targets of Rs 940 shortly.
Suggested Trading Strategy:-
We recommend sell at current price and again on pullbacks to the level of Rs 1017-Rs 1021 with stop loss placed above Rs 1038.
Alok Industries Ltd CMP— Rs 27.50 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Alok Industries appears to be taking form of an Inverted Head & Shoulder pattern on the weekly Chart.
An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline.
In the case of Alok Industries the neckline is placed at the levels of Rs 27.75.
The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 29.50 / Rs 30.50.
The momentum indicators have started rising upwards indicating an up move in the prices.
Suggested Trading Strategy:-
We recommend traders to buy above Rs 27.75 with a stop placed below Rs 26.85 levels for the above mentioned price targets
Saturday, June 11, 2011
TRADING RECOMMENDATIONS 10th June
Hindustan Oil Exploration Company Ltd. CMP— Rs 197.30 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of appears to have given a breakout from a cup and handle formation.
A cup and handle pattern is a bullish pattern associated with price advances following a breakout. We believe that the share price is likely to record upsides to levels of Rs 205 / Rs 210 in short term. The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to take long positions at current levels and again on pullbacks to the level of Rs 194 - Rs 193 with a stop placed just below levels of Rs 191 for aforementioned targets.
Technical Outlook:-
The share price of appears to have given a breakout from a cup and handle formation.
A cup and handle pattern is a bullish pattern associated with price advances following a breakout. We believe that the share price is likely to record upsides to levels of Rs 205 / Rs 210 in short term. The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to take long positions at current levels and again on pullbacks to the level of Rs 194 - Rs 193 with a stop placed just below levels of Rs 191 for aforementioned targets.
Friday, June 10, 2011
TRADING RECOMMENDATIONS 9th June
Hindustan Oil Exploration Company Ltd. CMP— Rs 197.30 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of appears to have given a breakout from a cup and handle formation.
A cup and handle pattern is a bullish pattern associated with price advances following a breakout.
We believe that the share price is likely to record upsides to levels of Rs 205 / Rs 210 in short term.
The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to take long positions at current levels and again on pullbacks to the level of Rs 194 - Rs 193 with a stop placed just below levels of Rs 191 for aforementioned targets.
Technical Outlook:-
The share price of appears to have given a breakout from a cup and handle formation.
A cup and handle pattern is a bullish pattern associated with price advances following a breakout.
We believe that the share price is likely to record upsides to levels of Rs 205 / Rs 210 in short term.
The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to take long positions at current levels and again on pullbacks to the level of Rs 194 - Rs 193 with a stop placed just below levels of Rs 191 for aforementioned targets.
Wednesday, June 8, 2011
TRADING RECOMMENDATIONS 9th June
Shree Renuka Sugars Ltd. CMP— Rs 66.20 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of Renuka had been consolidating sideways in the narrow range Rs 65.50 - Rs 62 levels since the past few sessions. With the smart gains in today’s session the price now has given a break-out above this consolidation range. It has also has closed above its short term moving averages. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 69 / Rs 71 in near future.
Suggested Trading Strategy:-
We recommend buy at current levels with a stop loss placed below Rs 64.20 levels for the above mentioned upside targets expected to be achieved over the upcoming 2-3 sessions of trade.
Technical Outlook:-
The share price of Renuka had been consolidating sideways in the narrow range Rs 65.50 - Rs 62 levels since the past few sessions. With the smart gains in today’s session the price now has given a break-out above this consolidation range. It has also has closed above its short term moving averages. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 69 / Rs 71 in near future.
Suggested Trading Strategy:-
We recommend buy at current levels with a stop loss placed below Rs 64.20 levels for the above mentioned upside targets expected to be achieved over the upcoming 2-3 sessions of trade.
TRADING RECOMMENDATIONS 8th June
Patel Engineering Ltd. CMP— Rs155.6
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Patel Engineering appears to be forming an inverted Head & shoulder formation. This is a bullish formation and measuring implications suggest that the stock price could test levels of Rs163 / Rs167 in the near future. Moreover, the stock is also trading above all its key short term moving average clusters which is also a sign of strength in the stock.
Suggested Trading Strategy:-
Thus, traders can look to buy at current levels with a stop placed below Rs150.40 and hold for the above mentioned targets, expected to be achieved over the upcoming 3-4 sessions of trade.
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Patel Engineering appears to be forming an inverted Head & shoulder formation. This is a bullish formation and measuring implications suggest that the stock price could test levels of Rs163 / Rs167 in the near future. Moreover, the stock is also trading above all its key short term moving average clusters which is also a sign of strength in the stock.
Suggested Trading Strategy:-
Thus, traders can look to buy at current levels with a stop placed below Rs150.40 and hold for the above mentioned targets, expected to be achieved over the upcoming 3-4 sessions of trade.
Monday, June 6, 2011
TRADING RECOMMENDATIONS 7th June
Bombay Dyeing Ltd. CMP— Rs 369.95
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of Bombay Dyeing has registered a breakout from its cluster of short term moving averages. Moreover, the overall
technical setup also remains positive. We believe that the stock price could advance to the levels of Rs 385/ Rs 390 in the near
future. The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
Thus, we recommend buying at current price with stop loss placed below `359 levels for the above mentioned targets.
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of Bombay Dyeing has registered a breakout from its cluster of short term moving averages. Moreover, the overall
technical setup also remains positive. We believe that the stock price could advance to the levels of Rs 385/ Rs 390 in the near
future. The momentum indicators are also in buy mode.
Suggested Trading Strategy:-
Thus, we recommend buying at current price with stop loss placed below `359 levels for the above mentioned targets.
Polaris Software Lab Ltd. CMP— `185.55 We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of Polaris has registered a breakdown from its cluster of short term moving averages. The momentum indicators remain in the declining trajectory and indicate weakness. We believe that the stock price could test its next support levels of `178 (200 DMA) and below that the share price movement is likely to decline further for targets of `172 levels shortly.
Suggested Trading Strategy:-
We recommend traders to sell the stock at current levels and again on pullbacks towards `189 - `190 levels with a stop loss placed above `192.65 levels for the above mentioned targets.
Gujarat Mineral Development Corporation Ltd. CMP— `145.20 We recommend going long in this counter at current levels.
Technical Outlook:-
The important observation to be made on the price chart of GMDC is that the price movement since 26th Nov, 2011 to till date has formed a Bullish Inverted Head & Shoulders pattern on the daily chart. Traders would note that the Inverted Head & Shoulders pattern is one of the most acclaimed bullish reversal patterns. The Measuring implication of this pattern suggests a price target of `164 – `182 levels. The RSI indicator on the Weekly chart is also in buy mode. The stock is also sustaining above its key medium and long term moving average.
Suggested Trading Strategy:-
We recommend traders to buy 50% now and again in the range of `143 – `144 levels with a stop loss placed below `139.80 levels for targets of near term targets of `154 –`160 levels, expected to be achieved over the coming 3-4 sessions of trade.
Friday, June 3, 2011
TRADING RECOMMENDATIONS For 3rd June.
Apollo Tyres Ltd. CMP— Rs 70.85 We recommend going long in this counter at current levels.
Technical Outlook:-
The important observation to be made on the price chart of Apollo Tyres Ltd. is that the price movement since 12th Nov 2010 till date is taking shape of an Inverted Head & Shoulders Pattern on the weekly chart. Traders should note that the Inverted Head & Shoulders pattern is one of the most acclaimed bullish reversal patterns. The stock is also trading above all its key moving average clusters which are also a sign of strength in the stock. The momentum indicators of the stock are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to buy between Rs 70.50—Rs 71.50 levels with a stop loss placed below Rs 68.80 levels for targets of Rs 74 – Rs 76 levels, expected to be achieved over the coming 3-4 sessions.
Technical Outlook:-
The important observation to be made on the price chart of Apollo Tyres Ltd. is that the price movement since 12th Nov 2010 till date is taking shape of an Inverted Head & Shoulders Pattern on the weekly chart. Traders should note that the Inverted Head & Shoulders pattern is one of the most acclaimed bullish reversal patterns. The stock is also trading above all its key moving average clusters which are also a sign of strength in the stock. The momentum indicators of the stock are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to buy between Rs 70.50—Rs 71.50 levels with a stop loss placed below Rs 68.80 levels for targets of Rs 74 – Rs 76 levels, expected to be achieved over the coming 3-4 sessions.
Thursday, June 2, 2011
TRADING RECOMMENDATIONS For 2nd June.
Petronet LNG Ltd. CMP— Rs142.20
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Petronet has registered a breakout from an upward sloping trend line and has closed at its all time high. This breakout has occurred with an increase in trading volume validating the said breakout. The momentum indicators of the stock are also in strong buy mode and the stock is also trading above all of its key moving averages which is also a sign of strength in the counter. We believe that the share price could test the levels of Rs 148 / Rs 151 in the near future Traders can look to buy at current levels with a stop placed below Rs 138.40.
Suggested Trading Strategy:-
We recommend traders to buy between Rs 142.50—Rs 141 levels with a stop loss placed below Rs 136.40 levels for targets of Rs 146 – Rs 150 levels, expected to be achieved over the coming 3 sessions
Wednesday, June 1, 2011
TRADING RECOMMENDATIONS For 1st June.
Essar Oil Ltd. CMP— Rs 131.30 We recommend going long in this counter at current levels.
Technical Outlook:-
The most important observation to be made on the weekly charts of Essar Oil Ltd. is that the share price action of the stock since 19th Nov, 2010 has taken the shape of an inverted Head and shoulders pattern. We would like to point out that this price pattern is one of the most acclaimed bullish reversal price patterns and has positive implications on the share movements of a stock.
Yesterday’s close has also taken the stock above its key long term moving average. The RSI indicator of the stock has also given a buy signal.
Suggested Trading Strategy:-
We recommend traders to buy between Rs 130—Rs 131.50 levels with a stop loss placed below Rs 126.40 levels for targets of Rs 135 – Rs 138 levels, expected to be achieved over the coming 3-4 sessions.
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