Exide Industries Ltd. CMP—Rs 149.90
Technical Outlook & Trading Strategy:-
The share price of Exide Industries has closed near to its support level of Rs 148. This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future.
Traders should look to initiate short positions on a breakdown of Rs 148 for price targets to levels of Rs 143/ Rs 140.
We recommend all sell positions be protected with a stop placed above Rs 152.60 levels.
Wednesday, August 3, 2011
TRADING RECOMMENDATIONS Moser-Baer Ltd.
Moser-Baer Ltd. CMP— Rs 35.45
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
Tuesday, August 2, 2011
Ranbaxy Laboratories Ltd. CMP—Rs 561.45
Technical Outlook & Trading Strategy:-
The share price of Ranbaxy Laboratories had been consolidating sideways in the range Rs 530 - Rs 555 levels since the past few weeks.
With the smart gains in today’s session the price now has given a break-out above this consolidation range with an increase in trading volumes. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 580 / Rs 595 in near future.
We recommend buy at current lev els and again on pullback to the levels of Rs 556 – Rs 553 with a stop loss placed below Rs 544.90 levels.
The share price of Ranbaxy Laboratories had been consolidating sideways in the range Rs 530 - Rs 555 levels since the past few weeks.
With the smart gains in today’s session the price now has given a break-out above this consolidation range with an increase in trading volumes. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 580 / Rs 595 in near future.
We recommend buy at current lev els and again on pullback to the levels of Rs 556 – Rs 553 with a stop loss placed below Rs 544.90 levels.
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