Sunday, September 16, 2012

Bank of Baroda

                                                               Bank of Baroda daily chart (click on chart to zoom)

 On daily chart, BoB has formed a FALLING WEDGE pattern which is a bullish sign. On friday, it broke out of that pattern indicating fresh upmove in short term. Stock has also broken out of all its key moving averages except 200 DMA. Stock can be bought at CMP (680) or every decline till 660 for the short term target of 730-750.
Stop loss at 650 recommended.

Pantaloon Retail

                                                            Pantaloon retail daily chart (click on chart to zoom)

On daily chart Pantaloon has formed a triple bottom as shown in chart. This bottom is in formation since november 2011 with increase in daily trading volume since that time as seen in the chart. Stock is still trading below its key moving averages which is a reason of caution in short term, but in medium to long term stock looks bullish from this level due to triple bottom formation which acts as a strong support downside. Increase in volume indicates accumulation of stock by smart traders/investors at low price.
Stock can be bought at CMP or in every decline below  CMP (160) till correction upto 140 for the target of 200 in medium term.
Stop loss at 135 recommended.

Monday, September 10, 2012

Excel industries

                                                             Excel industries daily chart (click on chart to zoom)

On daily chart Excel has formed a bottom near 60-66 price band. Also stock is making higher highs from the base indiacting uptrend in coming days. Stock is trading above triangle as shown in figure and waiting for breakout upside. Stock is also trading above all its key moving averages which is also a bullish sigb. However stock may or may not behave as our analysis says as stock trades with very low volume.
High risk traders can buy this stock with price target of 80 - 82 in short term.
Stop loss at 66 recommended.
CMP - 72 as on 7 sept 12.

Monday, September 3, 2012

Exide Ltd

                                                 Exide daily chart (click on chart to zoom)

 Trading in TRIANGLE which is narrowing indicating breakout or breakdown on daily chart. Also trading above all its key moving average which indicates bullish sign. Traders can wait for breakout or buy on CMP for target of 150-155 in short term.
Stop loss at 127 recommended.
CMP - 135 as on 31 august 12.

ACC Ltd

                                                                 ACC daily chart (click on chart to zoom)

 On daily chart ACC looks bearish as it made U turn from where it corrected few months back. It is also trading below 20 DMA which is also bearish sign. Stock has formed RISING WEDGE as shown in the chart and has brokedown from there.
Traders can short this stock at CMP or on every rise till 1350 for the target of 1150 - 1200 in short to medium term.
Stop loss at 1360 recommended.