Sunday, July 28, 2013

Bank of Baroda

                                                          daily chart (click on chart to zoom)

Sock of BOB is in bearish trend since last few months. On daily chart stock has formed a triple bottom as shown in the chart. On fiday (26 July) it managed to close above triple bottom formation and 20 DMA as per chart which if held may lead to a short term upward rally which may take stock to 650 in the short term. Stop loss at 540 recommended.

CMP - 575 (26/7/2013)

State bank of India

                                                         SBI daily chart (click to zoom)

Stock of SBI is in sharp correction since last few trading sessions as seen in the chart. In this down trend stock has formed a DOWNWARD TRADING CHANNEL which if broken upside may lead to a short term bullish rally. Possibility of bullish rally is high as stock after steep correction now looks oversold.
 Stock can be bought at CMP (1765) for short term target of 1900-2000. Stop loss at 1700 recommended. 

Friday, July 12, 2013

Bharti Airtel

                                                                         daily chart

Stock is trading sideways since last september making a TRIANGLE on daily chart. This triangle may break upwards which will take stock to 350 levels in short term. There is a resistance near 301 to 305 due to presance of DMAs like 50, 100 and 200 breaking which its upward rally will start. Stock bounced back from 20 DMA yesterday and managed to close just above 300.

Stop loss at long position should be at 285.

Sunday, July 7, 2013

Reliance mediaworks

                                                        daily chart

Stock is in downtrend since long time and it has recently broken out of falling triangle which is considered to be a bullish sign. In addition to this stock is also trading above its key DMAs like 20,50 and 100 but still below 200. Stock can be bought at CMP with short term price target of 65.
Stop loss at 49 recommended. (Stock has recently rallied from 42 to 55 and it may correct a little so better if you can catch it at lower prices.)
CMP - 55.9 (as on 5/7/13)

Alok textiles ltd

                                                     daily chart

Stock of Alok textiles broke out of the downward trading channel on friday. It was trading in the channel for last three months. Stock has also formed a base around Rs 7 ans it can be bought as long as it holds the base. Short term target for this target is 9. Strict stop loss at 6.5 should be kept.

CMP - 7.18

GTL Ltd

                                                           GTL ltd daily chart

Stock of GTL is now finding support near the level of 14 after beaten down for more than a year. Stock has formed a triangle and it is ready to breakout of it. Short term target of this stock is Rd 19-20. Stop loss at 13 recommended.

CMP - 14.66 (as on 5/7/2013)