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.
