BF Utilities Ltd. CMP - Rs 765.10
Technical Outlook & Trading Strategy:-
The share price movement of BF Utilities appears to be taking form of an Inverted Head & Shoulder pattern. 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 BF Utilities the neckline is placed at the levels of Rs 773. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 800 /Rs 820.
We recommend traders to buy above Rs 773 with a stop placed below Rs 751.30 levels.
Tuesday, July 26, 2011
Sun Pharmaceuticals Industries Ltd.
Sun Pharmaceuticals Industries Ltd. CMP—Rs 525.65
Technical Outlook & Trading Strategy:-
The share price of Sun Pharmaceuticals Industries appears to have broken out from its rising 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 545 / Rs 560.
We recommend traders to buy 50% now and again at Rs 521- Rs 518 with a stop loss placed below Rs 507.80
Technical Outlook & Trading Strategy:-
The share price of Sun Pharmaceuticals Industries appears to have broken out from its rising 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 545 / Rs 560.
We recommend traders to buy 50% now and again at Rs 521- Rs 518 with a stop loss placed below Rs 507.80
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