India Info line Ltd (CMP Rs 84.95):
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of India Info line appears to have broken above its rising trend line.
We believe that this breakout suggest strength and indicate possible price advance to levels of Rs 89 /Rs 92 in the near future.
The stock is also trading above all of its key moving averages which are also a sign of strength in the counter.
The MACD indicator is also in rising mode.
Suggested Trading Strategy:-
We recommend buying the stock at current with stop loss placed below Rs 82.50 levels for the above mentioned targets.
Wednesday, June 15, 2011
Tuesday, June 14, 2011
TRADING RECOMMENDATIONS 13th June
Hindalco Industries Ltd (CMP Rs 180.35):
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of Hindalco appears to have broken down from its downward sloping trend line support.
Such a breakdown is likelyto have negative implications for the stock price.
We expect strong declines to occur in the next few sessions and believe that thetechnical set up suggests that the stock price could test the levels of Rs 173 / Rs 168.
The momentum indicators have also given asell signal.
Suggested Trading Strategy:-
Thus, Traders can take short positions at current levels with a stop loss placed above Rs 186.20 levels for the above mentionedtargets.
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of Hindalco appears to have broken down from its downward sloping trend line support.
Such a breakdown is likelyto have negative implications for the stock price.
We expect strong declines to occur in the next few sessions and believe that thetechnical set up suggests that the stock price could test the levels of Rs 173 / Rs 168.
The momentum indicators have also given asell signal.
Suggested Trading Strategy:-
Thus, Traders can take short positions at current levels with a stop loss placed above Rs 186.20 levels for the above mentionedtargets.
Monday, June 13, 2011
TRADING RECOMMENDATIONS 11th June
ACC Ltd. CMP— Rs 1003.50
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of ACC has registered a breakdown from its cluster of short term and long term moving averages.
The momentum indicators remain in the declining trajectory and indicate weakness.
We believe that the stock price could test its next support levels of Rs 970 and below that the share price movement is likely to decline further for targets of Rs 940 shortly.
Suggested Trading Strategy:-
We recommend sell at current price and again on pullbacks to the level of Rs 1017-Rs 1021 with stop loss placed above Rs 1038.
Alok Industries Ltd CMP— Rs 27.50 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Alok Industries appears to be taking form of an Inverted Head & Shoulder pattern on the weekly Chart.
An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline.
In the case of Alok Industries the neckline is placed at the levels of Rs 27.75.
The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 29.50 / Rs 30.50.
The momentum indicators have started rising upwards indicating an up move in the prices.
Suggested Trading Strategy:-
We recommend traders to buy above Rs 27.75 with a stop placed below Rs 26.85 levels for the above mentioned price targets
We recommend going short in this counter at current levels.
Technical Outlook:-
The share price of ACC has registered a breakdown from its cluster of short term and long term moving averages.
The momentum indicators remain in the declining trajectory and indicate weakness.
We believe that the stock price could test its next support levels of Rs 970 and below that the share price movement is likely to decline further for targets of Rs 940 shortly.
Suggested Trading Strategy:-
We recommend sell at current price and again on pullbacks to the level of Rs 1017-Rs 1021 with stop loss placed above Rs 1038.
Alok Industries Ltd CMP— Rs 27.50 We recommend going long in this counter at current levels.
Technical Outlook:-
The share price movement of Alok Industries appears to be taking form of an Inverted Head & Shoulder pattern on the weekly Chart.
An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline.
In the case of Alok Industries the neckline is placed at the levels of Rs 27.75.
The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 29.50 / Rs 30.50.
The momentum indicators have started rising upwards indicating an up move in the prices.
Suggested Trading Strategy:-
We recommend traders to buy above Rs 27.75 with a stop placed below Rs 26.85 levels for the above mentioned price targets
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