TRADING RECOMMENDATIONS Housing Development Finance Corporation Ltd.

Technical Outlook & Trading Strategy:-

The share price of HDFC has registered a break-out from its Inverted Head & Shoulders pattern (Intraday chart).

This is a bullish pattern and the measuring implication suggests towards a strong possibility of the share price heading to the targets of Rs 695 /Rs 705. We recommend buy at current price with a stoploss placed below Rs 656.40.

TRADING RECOMMENDATIONS Wipro Ltd.

Technical Outlook & Trading Strategy:-

The most important observation to be made on the charts of Wipro is the positive divergence displayed by indicators.

They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back.

The share price has also closed above its short term moving averages. In the short term we expect the share price to head towards the target of Rs 370- Rs 375 levels.

We recommend buy at current levels and again on pullback to the level of Rs 345- Rs 342 with a stoploss placed below Rs 335.80.