Exide Industries Ltd. CMP—Rs 149.90
Technical Outlook & Trading Strategy:-
The share price of Exide Industries has closed near to its support level of Rs 148. This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future.
Traders should look to initiate short positions on a breakdown of Rs 148 for price targets to levels of Rs 143/ Rs 140.
We recommend all sell positions be protected with a stop placed above Rs 152.60 levels.
Wednesday, August 3, 2011
TRADING RECOMMENDATIONS Moser-Baer Ltd.
Moser-Baer Ltd. CMP— Rs 35.45
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
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