Tata Chemicals Ltd. CMP—Rs 385.05
Technical Outlook & Trading Strategy:-
The share price of Tata Chemical appears to have broken out from its declining trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances 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 399 / Rs 408.
We recommend buying the stock at current price and again on pullback to the levels of Rs 380- Rs 378 with stop loss placed below Rs 371.40 levels.
Thursday, July 7, 2011
TRADING RECOMMENDATIONS Sesa GoaLtd
Sesa GoaLtd. CMP - Rs 291.20
Technical Outlook & Trading Strategy:-
The share price movement of Sesa Goa has registered a breakout from an Inverted Head & shoulder formation. This is a bullish formation and measuring implications suggest that the stock price could advance to the levels of Rs 302 / Rs 308 in the near future.
We recommend buying the stock at current price with the stop placed below Rs 282.80 for the above mentioned target.
Technical Outlook & Trading Strategy:-
The share price movement of Sesa Goa has registered a breakout from an Inverted Head & shoulder formation. This is a bullish formation and measuring implications suggest that the stock price could advance to the levels of Rs 302 / Rs 308 in the near future.
We recommend buying the stock at current price with the stop placed below Rs 282.80 for the above mentioned target.
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