Alok Industries Ltd. CMP— Rs 19.50
Technical Outlook & Trading Strategy:-
On the daily chart the share price of Alok Ind. has registered a breakout from ascending triangle pattern. Traders should note that ascending triangle patterns signifies accumulation and suggest price advance once the breakout is recorded. The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
The stock is also sustaining above its cluster of moving averages adding weight to the Bullish argument.
We recommend traders to buy in the range of Rs 19.4—Rs 19.6 levels with a stop loss placed below Rs 18.8 levels for targets of Rs 21– Rs 22 levels, expected to be achieved over the coming few Weeks.
Hero MotoCorp Ltd. CMP - Rs 2052.30
Technical Outlook & Trading Strategy:-
The stock price of Hero Motocorp has given a breakout to its consolidation of past few days. The stock is also taking support at cluster of averages. We would like to point out that on the weekly chart the price of Hero motocorp has given pulled back from its inverted head & shoulder neckline. On the daily chart the stock is also sustaining above its cluster of moving averages. The momentum indicators on weekly chart are in the buying mode.
We recommend traders to buy 50% now and again in the range of Rs 2020—2030 levels with a stop loss placed below Rs 1988.8 levels for targets of Rs 2120/2200 levels.
Monday, October 24, 2011
Friday, October 21, 2011
TRADING RECOMMENDATIONS 21th Oct
State Bank of India CMP - Rs 1933.90
Technical Outlook & Trading Strategy:-
The share price of SBI has seen a sharp fall from the highs of Rs 2529.7 on 26th July 2011 to the lows of Rs 1710 Levels.
The stock has since then pulled back and has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 1930—Rs 41938 levels with a stop loss placed below Rs 1878.8 levels for targets of Rs 1994 / Rs 2036 levels.
Reliance Industries Limited CMP—Rs 840.40
Technical Outlook & Trading Strategy:-
The price of Reliance Ind has remained under selling pressure for last few weeks. But, the key observation to be made is that the price of Reliance Ind appears to be forming an inverted head and shoulder pattern on its daily charts. The inverted head and shoulder price pattern is a bullish price pattern and has positive implications on the future price movements of a stock. The price of Reliance Ind is also trading above its key moving averages and the momentum indicators are firmly placed in buy mode.
We recommend traders to buy in the range of Rs 838 – Rs 841 levels with a stop loss placed below Rs 820.8 levels for targets of Rs 864 – Rs 880 levels, expected to be achieved in coming few Sessions.
Technical Outlook & Trading Strategy:-
The share price of SBI has seen a sharp fall from the highs of Rs 2529.7 on 26th July 2011 to the lows of Rs 1710 Levels.
The stock has since then pulled back and has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 1930—Rs 41938 levels with a stop loss placed below Rs 1878.8 levels for targets of Rs 1994 / Rs 2036 levels.
Reliance Industries Limited CMP—Rs 840.40
Technical Outlook & Trading Strategy:-
The price of Reliance Ind has remained under selling pressure for last few weeks. But, the key observation to be made is that the price of Reliance Ind appears to be forming an inverted head and shoulder pattern on its daily charts. The inverted head and shoulder price pattern is a bullish price pattern and has positive implications on the future price movements of a stock. The price of Reliance Ind is also trading above its key moving averages and the momentum indicators are firmly placed in buy mode.
We recommend traders to buy in the range of Rs 838 – Rs 841 levels with a stop loss placed below Rs 820.8 levels for targets of Rs 864 – Rs 880 levels, expected to be achieved in coming few Sessions.
Thursday, October 20, 2011
TRADING RECOMMENDATIONS 20th Oct
Aban Offshore Limited CMP - Rs 411.00
Technical Outlook & Trading Strategy:-
The share price of Aban Offs has seen a sharp fall from the highs of Rs 530.8 on 22nd July 2011 to the lows of Rs 333 Levels. The stock has since then pulled back and tended to trade within the Rs 331.8---Rs 410 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 409—Rs 412.5 levels with a stop loss placed below Rs 398.8 levels for targets of Rs 425 / Rs 436 levels.
GAIL (India) Limited CMP—Rs 424.00
Technical Outlook & Trading Strategy:-
The price of GAIL has registered a breakout from its descending triangle price pattern on daily charts. It should be noted that descending triangle breakout on the upside signifies accumulation and suggest prices to rally. The key momentum indicators are also in buy mode.
We recommend traders to buy 50% now and again in the range of Rs 421 – Rs 423 levels with a stop loss placed below Rs 411.4 levels for targets of Rs 438 – Rs 448 levels, expected to be achieved in coming few Sessions.
Technical Outlook & Trading Strategy:-
The share price of Aban Offs has seen a sharp fall from the highs of Rs 530.8 on 22nd July 2011 to the lows of Rs 333 Levels. The stock has since then pulled back and tended to trade within the Rs 331.8---Rs 410 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 409—Rs 412.5 levels with a stop loss placed below Rs 398.8 levels for targets of Rs 425 / Rs 436 levels.
GAIL (India) Limited CMP—Rs 424.00
Technical Outlook & Trading Strategy:-
The price of GAIL has registered a breakout from its descending triangle price pattern on daily charts. It should be noted that descending triangle breakout on the upside signifies accumulation and suggest prices to rally. The key momentum indicators are also in buy mode.
We recommend traders to buy 50% now and again in the range of Rs 421 – Rs 423 levels with a stop loss placed below Rs 411.4 levels for targets of Rs 438 – Rs 448 levels, expected to be achieved in coming few Sessions.
Tuesday, October 18, 2011
TRADING RECOMMENDATIONS 18th Oct
JSW STEEL CMP - Rs 580
Technical Outlook & Trading Strategy:-
The key observation to be made is that the price of JSW Steel has registered a breakdown from its head and shoulder pattern on the intraday charts. This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to levels of Rs 525 levels. The momentum indicator is also in sell mode. The stock has also closed below its near term moving average.
We recommend traders to sell 50%now and again in the range of Rs 585 – Rs 588 levels with a stop loss placed above Rs 600.6 levels for targets of `525 levels, expected to be achieved in coming few Sessions.
Reliance Power Limited CMP—Rs 86.8
Technical Outlook & Trading Strategy:-
The share price of Reliance Power has fallen from the highs of Rs 119.9 on 26th July 2011 to the lows of Rs 75.1 Levels.
The stock has since then pulled back and tended to trade within the Rs 75.1---Rs 87.25 range. On the daily chart the Stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 86—Rs 86.5 levels with a stop loss placed below Rs 84.8levels for targets of Rs 92/Rs 94 levels.
Technical Outlook & Trading Strategy:-
The key observation to be made is that the price of JSW Steel has registered a breakdown from its head and shoulder pattern on the intraday charts. This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to levels of Rs 525 levels. The momentum indicator is also in sell mode. The stock has also closed below its near term moving average.
We recommend traders to sell 50%now and again in the range of Rs 585 – Rs 588 levels with a stop loss placed above Rs 600.6 levels for targets of `525 levels, expected to be achieved in coming few Sessions.
Reliance Power Limited CMP—Rs 86.8
Technical Outlook & Trading Strategy:-
The share price of Reliance Power has fallen from the highs of Rs 119.9 on 26th July 2011 to the lows of Rs 75.1 Levels.
The stock has since then pulled back and tended to trade within the Rs 75.1---Rs 87.25 range. On the daily chart the Stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 86—Rs 86.5 levels with a stop loss placed below Rs 84.8levels for targets of Rs 92/Rs 94 levels.
Friday, October 14, 2011
TRADING RECOMMENDATIONS 14th Oct
PTC India Ltd. CMP—Rs 70.65
Technical Outlook & Trading Strategy:-
The share price of PTC has seen a sharp fall from the highs of Rs 77.45 on 12st Aug 2011 to the lows of Rs 66 Levels. The stock has since then pulled back and tended to trade within the Rs 66---Rs 70.5 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 70.4 — Rs 70.8 levels with a stop loss placed below Rs 68.4levels for targets of Rs 75 levels.
Technical Outlook & Trading Strategy:-
The share price of PTC has seen a sharp fall from the highs of Rs 77.45 on 12st Aug 2011 to the lows of Rs 66 Levels. The stock has since then pulled back and tended to trade within the Rs 66---Rs 70.5 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 70.4 — Rs 70.8 levels with a stop loss placed below Rs 68.4levels for targets of Rs 75 levels.
Tuesday, October 11, 2011
TRADING RECOMMENDATIONS 11 Oct
Alok Industries Ltd. CMP—Rs 18.90
Technical Outlook & Trading Strategy:-
The share price of Alok Industries has seen a sharp fall from the highs of Rs 25.6 on 1st Aug 2011 to the lows of Rs 15.6 Levels. The stock has since then pulled back and tended to trade within the Rs 15.6---Rs 20.3 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 18.8— Rs 19.1 levels with a stop loss placed below `17.9 levels for targets of Rs 20.5 – Rs 22.5 levels.
Technical Outlook & Trading Strategy:-
The share price of Alok Industries has seen a sharp fall from the highs of Rs 25.6 on 1st Aug 2011 to the lows of Rs 15.6 Levels. The stock has since then pulled back and tended to trade within the Rs 15.6---Rs 20.3 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy in the range of Rs 18.8— Rs 19.1 levels with a stop loss placed below `17.9 levels for targets of Rs 20.5 – Rs 22.5 levels.
TRADING RECOMMENDATIONS 11 Oct
Punj Lloyd Ltd. CMP— Rs 55.50
Technical Outlook & Trading Strategy:-
The share price of Punj Lloyd has taken strong support & seems to be making a double bottom at Rs 52.50 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 58- Rs 59 shortly.
We recommend a buy at current price with stop loss placed below `53.70.
Technical Outlook & Trading Strategy:-
The share price of Punj Lloyd has taken strong support & seems to be making a double bottom at Rs 52.50 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 58- Rs 59 shortly.
We recommend a buy at current price with stop loss placed below `53.70.
Monday, October 10, 2011
TRADING RECOMMENDATIONS 10 Oct
Shriram Transport Finance Company Ltd. CMP—Rs 576.80
Technical Outlook & Trading Strategy:-
The Shriram Transport has witnessed heavy selling pressure on Friday’s session of trade. The price of Shriram Transport also fell on the back of strong volumes. The Rs 587 levels was the crucial support for the price of Shriram Transport. But now a break below this level has opened up downside targets of Rs 540 / Rs 525 levels. The momentum indicators are also in sell mode and the price of Shriram Transport have been closing below its key moving averages cluster since the past few sessions of trade.
We recommend traders to sell in the range of Rs 574 – Rs 580 levels with a stop loss placed above Rs 601.6 levels for targets of Rs 540 – Rs 525 levels, expected to be achieved in coming few Sessions.
Technical Outlook & Trading Strategy:-
The Shriram Transport has witnessed heavy selling pressure on Friday’s session of trade. The price of Shriram Transport also fell on the back of strong volumes. The Rs 587 levels was the crucial support for the price of Shriram Transport. But now a break below this level has opened up downside targets of Rs 540 / Rs 525 levels. The momentum indicators are also in sell mode and the price of Shriram Transport have been closing below its key moving averages cluster since the past few sessions of trade.
We recommend traders to sell in the range of Rs 574 – Rs 580 levels with a stop loss placed above Rs 601.6 levels for targets of Rs 540 – Rs 525 levels, expected to be achieved in coming few Sessions.
TRADING RECOMMENDATIONS 10 Oct
Infrastructure Development Finance Company (IDFC) Ltd. CMP— 116.40
Technical Outlook & Trading Strategy:-
The share price of IDFC has seen a sharp fall from the highs of Rs 145 on 25th July 2011 to the lows of Rs 103.25 Levels.
The stock has since then pulled back and tended to trade within the Rs 103.25---Rs 116 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again on dips up to Rs113—Rs 114 levels with a stop loss placed below Rs 111.8 levels for targets of Rs 122 – Rs 130 levels.
Technical Outlook & Trading Strategy:-
The share price of IDFC has seen a sharp fall from the highs of Rs 145 on 25th July 2011 to the lows of Rs 103.25 Levels.
The stock has since then pulled back and tended to trade within the Rs 103.25---Rs 116 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again on dips up to Rs113—Rs 114 levels with a stop loss placed below Rs 111.8 levels for targets of Rs 122 – Rs 130 levels.
Friday, October 7, 2011
TRADING RECOMMENDATIONS OF TVS Motor Company
Technical Outlook & Trading Strategy:-
The key observation to be made is that the price of TVS MOTOR has formed a head and shoulder pattern on the Daily charts.
A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 57.8 levels.
The momentum indicator is also in sell mode. The prices of TVS MOTOR will face severe selling pressure once it starts trading below the neckline level of Rs 57.8 levels.
We recommend traders to sell in the range of Rs 57.5 – Rs 58 levels with a stop loss placed above Rs 60.6 levels for targets of Rs 54.5 – Rs 52 levels, expected to be achieved in coming few Sessions.
The key observation to be made is that the price of TVS MOTOR has formed a head and shoulder pattern on the Daily charts.
A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 57.8 levels.
The momentum indicator is also in sell mode. The prices of TVS MOTOR will face severe selling pressure once it starts trading below the neckline level of Rs 57.8 levels.
We recommend traders to sell in the range of Rs 57.5 – Rs 58 levels with a stop loss placed above Rs 60.6 levels for targets of Rs 54.5 – Rs 52 levels, expected to be achieved in coming few Sessions.
Wednesday, October 5, 2011
TRADING RECOMMENDATIONS OF Lupin
Technical Outlook & Trading Strategy:-
The share price of Lupin has registered a close below its cluster of moving averages. The momentum indicator on the daily chart is also in a bearish zone suggesting more downside in the stock.
We believe that the share price could decline towards the levels of Rs 448 /Rs 440 levels.
We recommend traders to sell in the range of Rs 462— Rs 466 levels with a stop loss placed above Rs 474.6 levels.
The share price of Lupin has registered a close below its cluster of moving averages. The momentum indicator on the daily chart is also in a bearish zone suggesting more downside in the stock.
We believe that the share price could decline towards the levels of Rs 448 /Rs 440 levels.
We recommend traders to sell in the range of Rs 462— Rs 466 levels with a stop loss placed above Rs 474.6 levels.
Tuesday, October 4, 2011
TRADING RECOMMENDATIONS Kotak Mahindra Bank
Technical Outlook & Trading Strategy:-
The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.
The momentum indicators have also turned into sell mode which displays weakness in the counter.
Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.
The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.
The momentum indicators have also turned into sell mode which displays weakness in the counter.
Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.
Monday, October 3, 2011
TRADING RECOMMENDATIONS HCL Technologies Ltd.
Technical Outlook & Trading Strategy:-
The share price movement of HCL Tech from 17 Aug 2011 till date appears to be forming a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify accumulation and suggest price advances once the breakout is recorded (at Rs 414 for the said pattern).
A break above the price level of Rs 414 should start an upside movement with possible price targets of Rs 440/ Rs 455 in a short period of time.
The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 402 – Rs 406 levels with a stop loss placed below Rs 394.4 levels for targets of Rs 430 – Rs 440 levels.
The share price movement of HCL Tech from 17 Aug 2011 till date appears to be forming a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify accumulation and suggest price advances once the breakout is recorded (at Rs 414 for the said pattern).
A break above the price level of Rs 414 should start an upside movement with possible price targets of Rs 440/ Rs 455 in a short period of time.
The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 402 – Rs 406 levels with a stop loss placed below Rs 394.4 levels for targets of Rs 430 – Rs 440 levels.
TRADING RECOMMENDATIONS GAIL
Technical Outlook & Trading Strategy:-
The price of GAIL Ltd has been consolidating within broad ranges of Rs 403 to Rs 476.5 levels.
But, the key observation to be made is that the price of GAIL Ltd has formed a head and shoulder pattern on the Daily charts.
A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 409 levels.
The momentum indicator is also in sell mode. The prices of GAIL Ltd will face severe selling pressure once it starts trading below the neckline level of Rs 409 levels.
We recommend traders to sell below Rs 409 with a stop loss placed above Rs 422.1 levels for targets of Rs 392 / Rs 380 levels, expected to be achieved in coming few Sessions.
The price of GAIL Ltd has been consolidating within broad ranges of Rs 403 to Rs 476.5 levels.
But, the key observation to be made is that the price of GAIL Ltd has formed a head and shoulder pattern on the Daily charts.
A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 409 levels.
The momentum indicator is also in sell mode. The prices of GAIL Ltd will face severe selling pressure once it starts trading below the neckline level of Rs 409 levels.
We recommend traders to sell below Rs 409 with a stop loss placed above Rs 422.1 levels for targets of Rs 392 / Rs 380 levels, expected to be achieved in coming few Sessions.
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