Technical Outlook & Trading Strategy:-
The price of GAIL Ltd has been consolidating within broad ranges of Rs 403 to Rs 476.5 levels.
But, the key observation to be made is that the price of GAIL Ltd has formed a head and shoulder pattern on the Daily charts.
A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 409 levels.
The momentum indicator is also in sell mode. The prices of GAIL Ltd will face severe selling pressure once it starts trading below the neckline level of Rs 409 levels.
We recommend traders to sell below Rs 409 with a stop loss placed above Rs 422.1 levels for targets of Rs 392 / Rs 380 levels, expected to be achieved in coming few Sessions.
Monday, October 3, 2011
Friday, September 30, 2011
TRADING RECOMMENDATIONS Tata Power Company
Technical Outlook & Trading Strategy:-
The Tata Power has seen a sharp fall from the highs of Rs 133 on 5th July 2011 to the lows of Rs 93.05 Levels.
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 50% now and again on dips up to Rs 99.5—Rs 100 levels with a stop loss placed below Rs 97.8 levels for targets of Rs 107 / Rs 110 levels.
The Tata Power has seen a sharp fall from the highs of Rs 133 on 5th July 2011 to the lows of Rs 93.05 Levels.
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 50% now and again on dips up to Rs 99.5—Rs 100 levels with a stop loss placed below Rs 97.8 levels for targets of Rs 107 / Rs 110 levels.
Thursday, September 29, 2011
TRADING RECOMMENDATIONS Kotak Mahindra Bank
Technical Outlook & Trading Strategy:-
The share price movement of Kotak Mahindra Bank appears to be taking form of a Head & Shoulder pattern.
A Head & Shoulder is a bearish pattern as it is associated with sharp price decline once the share price records a breakdown from its neckline.
In the case of Kotak Mahindra Bank the neckline is placed at the levels of Rs 454. The measuring implications of the pattern suggest that following a breakdown the share price could head towards the following price levels: Rs 438 /Rs 430.
We recommend traders to sell below above Rs 454 with a stop placed above Rs 465.70 for the above mentioned target.
The share price movement of Kotak Mahindra Bank appears to be taking form of a Head & Shoulder pattern.
A Head & Shoulder is a bearish pattern as it is associated with sharp price decline once the share price records a breakdown from its neckline.
In the case of Kotak Mahindra Bank the neckline is placed at the levels of Rs 454. The measuring implications of the pattern suggest that following a breakdown the share price could head towards the following price levels: Rs 438 /Rs 430.
We recommend traders to sell below above Rs 454 with a stop placed above Rs 465.70 for the above mentioned target.
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