TRADING RECOMMENDATIONS Pantaloon Retail Ltd

Pantaloon Retail Ltd. CMP - Rs 315.85

Technical Outlook & Trading Strategy:-

The stock price of Pantaloon Retail has seen a sharp rise from the level of Rs 239 as on 18th May 2011 to a high of`331.60 on 4th July 2011. On the Daily chart the stock has formed an Evening Star Candlestick pattern. The Evening Star candlestick pattern is a significant Top reversal pattern consisting of three candlesticks. We believe that the share price could decline to the levels of Rs 302 / Rs 295 in near future.

We recommend traders to sell 50% now and again in the range of Rs 319 - Rs 321 levels with a stop loss placed above Rs 326.60 levels.

TRADING RECOMMENDATIONS Patni Computer Systems

Patni Computer Systems Ltd. CMP—Rs 336.00

Technical Outlook & Trading Strategy:-

The share price of Patni Computer Systems has taken support & seems to be making a Triple bottom at Rs 322 levels .It has shown a reversal bar at this level, suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of Rs 348 / Rs 355 shortly.
We recommend a buy at current price and on pullback to the level of Rs 331 --Rs 329 with stop loss placed below Rs 324.70 levels.

TRADING RECOMMENDATIONS Balrampur Chini Mills Ltd.

Balrampur Chini Mills Ltd. CMP - Rs 65.05

Technical Outlook & Trading Strategy:-

The Share price of Balrampur Chini Mills has registered a breakout from its crucial resistance level of Rs 64 and has simultaneously closed above its cluster of moving averages. The momentum indicator has already given a buy signal with a bullish crossover suggesting build up on the upside. We believe that these breakouts suggest strength and indicate a possible price upmove to the levels of Rs 68 / Rs 71 in the near future.
We recommend traders to buy 50% now and again in the range of  Rs64- Rs 63 levels with a stop loss placed below Rs 61.90