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.
Tuesday, October 11, 2011
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.
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