Friday, November 11, 2011

Wipro Ltd

                                                                       Wipro daily chart (click to zoom)

 Wipro on daily chart has broken out from CUP and HANDLE formation. Its 20 DMA has also crossed over 50 DMA and now it is above the latter, this confirms the uptrend.
Stock should kiss 400 level in short term.
One can use a stop loss at 370.
CMP as on today is 382.10

Tuesday, November 8, 2011

Yes Bank

                                                              Yes Bank daily chart (click to zoom)

 Yes bank on daily chart formed a bearish engulfing candle stick. Double top formation also confirms bearish trend in short term.
One can short Yes bank with short term target of 300 and stop loss at 315.
CMP  - 309

Monday, November 7, 2011

Arshiya International Ltd.

                                                     Arshiya daily chart (click to zoom)

 Arshiya on daily chart has broken from its consolidation zone at 154 level and is likely to continue its uptrend and touch 175 level soon. All its important daily moving averages like 20, 50 and 100.
One should maintain a stop loss at 155.
CMP on friday was 163

Friday, November 4, 2011

Welspun Corp Ltd

                                                      Welspun Corp daily chart (click to zoom)

 Welspun on daily chart formed double bottom yesterday near 102 level. It has also taken support from lower band of bollinger yesterday with higher trading volume than average daily volume for the stock. Its short term target is 122 with stop loss below 100.
CMP - 104.65 as on yesterday

Wednesday, November 2, 2011

Lupin Ltd

                                                                 Lupin daily chart (click to zoom)

 Lupin on daily chart is trading in rising wedge pattern and trading well above 20 & 50 DMAs since long time.
Stock should touch 490 soon.
One can go long on stock with stop loss of 466.
CMP as on today is 476.

Larsen & Toubro Ltd

                                                                                      L & T daily chart (click to zoom)

 LnT on daily chart has broken down from the base of Head and Shoulder pattern. Heading downwards to 1350. Keep a stop loss of 1400 on short positions.
CMP as on yesterday is 1390.

Tuesday, November 1, 2011

Indiabulls Financial Services Ltd

                                                          Indiabulls Financial daily chart (click to zoom)
  Narrowing triangle on daily chart indicates breakout on upside in coming trading sessions. Volumes were high yesterday indicating block deals at current level. Stock to zoom to 165 in short term.
Stop loss - 148
CMP as on 31 oct 11 is 153