Technical Outlook & Trading Strategy:-
The share price of Lupin has registered a close below its cluster of moving averages. The momentum indicator on the daily chart is also in a bearish zone suggesting more downside in the stock.
We believe that the share price could decline towards the levels of Rs 448 /Rs 440 levels.
We recommend traders to sell in the range of Rs 462— Rs 466 levels with a stop loss placed above Rs 474.6 levels.
Wednesday, October 5, 2011
Tuesday, October 4, 2011
TRADING RECOMMENDATIONS Kotak Mahindra Bank
Technical Outlook & Trading Strategy:-
The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.
The momentum indicators have also turned into sell mode which displays weakness in the counter.
Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.
The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.
The momentum indicators have also turned into sell mode which displays weakness in the counter.
Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.
Monday, October 3, 2011
TRADING RECOMMENDATIONS HCL Technologies Ltd.
Technical Outlook & Trading Strategy:-
The share price movement of HCL Tech from 17 Aug 2011 till date appears to be forming a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify accumulation and suggest price advances once the breakout is recorded (at Rs 414 for the said pattern).
A break above the price level of Rs 414 should start an upside movement with possible price targets of Rs 440/ Rs 455 in a short period of time.
The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 402 – Rs 406 levels with a stop loss placed below Rs 394.4 levels for targets of Rs 430 – Rs 440 levels.
The share price movement of HCL Tech from 17 Aug 2011 till date appears to be forming a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify accumulation and suggest price advances once the breakout is recorded (at Rs 414 for the said pattern).
A break above the price level of Rs 414 should start an upside movement with possible price targets of Rs 440/ Rs 455 in a short period of time.
The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of Rs 402 – Rs 406 levels with a stop loss placed below Rs 394.4 levels for targets of Rs 430 – Rs 440 levels.
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