Alok Industries Ltd. CMP— Rs 19.50
Technical Outlook & Trading Strategy:-
On the daily chart the share price of Alok Ind. has registered a breakout from ascending triangle pattern. Traders should note that ascending triangle patterns signifies accumulation and suggest price advance once the breakout is recorded. The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
The stock is also sustaining above its cluster of moving averages adding weight to the Bullish argument.
We recommend traders to buy in the range of Rs 19.4—Rs 19.6 levels with a stop loss placed below Rs 18.8 levels for targets of Rs 21– Rs 22 levels, expected to be achieved over the coming few Weeks.
Hero MotoCorp Ltd. CMP - Rs 2052.30
Technical Outlook & Trading Strategy:-
The stock price of Hero Motocorp has given a breakout to its consolidation of past few days. The stock is also taking support at cluster of averages. We would like to point out that on the weekly chart the price of Hero motocorp has given pulled back from its inverted head & shoulder neckline. On the daily chart the stock is also sustaining above its cluster of moving averages. The momentum indicators on weekly chart are in the buying mode.
We recommend traders to buy 50% now and again in the range of Rs 2020—2030 levels with a stop loss placed below Rs 1988.8 levels for targets of Rs 2120/2200 levels.
Monday, October 24, 2011
Friday, October 21, 2011
TRADING RECOMMENDATIONS 21th Oct
State Bank of India CMP - Rs 1933.90
Technical Outlook & Trading Strategy:-
The share price of SBI has seen a sharp fall from the highs of Rs 2529.7 on 26th July 2011 to the lows of Rs 1710 Levels.
The stock has since then pulled back and 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 1930—Rs 41938 levels with a stop loss placed below Rs 1878.8 levels for targets of Rs 1994 / Rs 2036 levels.
Reliance Industries Limited CMP—Rs 840.40
Technical Outlook & Trading Strategy:-
The price of Reliance Ind has remained under selling pressure for last few weeks. But, the key observation to be made is that the price of Reliance Ind appears to be forming an inverted head and shoulder pattern on its daily charts. The inverted head and shoulder price pattern is a bullish price pattern and has positive implications on the future price movements of a stock. The price of Reliance Ind is also trading above its key moving averages and the momentum indicators are firmly placed in buy mode.
We recommend traders to buy in the range of Rs 838 – Rs 841 levels with a stop loss placed below Rs 820.8 levels for targets of Rs 864 – Rs 880 levels, expected to be achieved in coming few Sessions.
Technical Outlook & Trading Strategy:-
The share price of SBI has seen a sharp fall from the highs of Rs 2529.7 on 26th July 2011 to the lows of Rs 1710 Levels.
The stock has since then pulled back and 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 1930—Rs 41938 levels with a stop loss placed below Rs 1878.8 levels for targets of Rs 1994 / Rs 2036 levels.
Reliance Industries Limited CMP—Rs 840.40
Technical Outlook & Trading Strategy:-
The price of Reliance Ind has remained under selling pressure for last few weeks. But, the key observation to be made is that the price of Reliance Ind appears to be forming an inverted head and shoulder pattern on its daily charts. The inverted head and shoulder price pattern is a bullish price pattern and has positive implications on the future price movements of a stock. The price of Reliance Ind is also trading above its key moving averages and the momentum indicators are firmly placed in buy mode.
We recommend traders to buy in the range of Rs 838 – Rs 841 levels with a stop loss placed below Rs 820.8 levels for targets of Rs 864 – Rs 880 levels, expected to be achieved in coming few Sessions.
Thursday, October 20, 2011
TRADING RECOMMENDATIONS 20th Oct
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.
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.
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