Technical Calls 30 November 2009
Renuka (217)
After making new high of Rs.240 in Mid November stock is giving continuously weak signal on daily chart. Daily RSI, Stochastic and MACDh has given sell signal. Weekly RSI has also given negative cross over from over bought zone, moreover 3 DEMA has given negative cross over to 8DEMA. Looking at all above scenario Trader can Sell the stock below Rs.216 with tight Stop loss of Rs.222 for a target of Rs.205-Rs.202.
After making new high of Rs.240 in Mid November stock is giving continuously weak signal on daily chart. Daily RSI, Stochastic and MACDh has given sell signal. Weekly RSI has also given negative cross over from over bought zone, moreover 3 DEMA has given negative cross over to 8DEMA. Looking at all above scenario Trader can Sell the stock below Rs.216 with tight Stop loss of Rs.222 for a target of Rs.205-Rs.202.
Tata Communication (382)
Stock is continuously trading in accumulation zone and on Friday on Daily chart Stock has formed “Bullish Engulf” candlestick pattern with decent volume breakout. Daily RSI, Stochastic and MACDh has given Buy signal. Weekly chart has also formed strong White candle suggest up move in coming week. Looking at all above statement Trader can buy in the range of Rs.382 to Rs.377 with tight stop loss of Rs.370 for a target of Rs.402.
Stock is continuously trading in accumulation zone and on Friday on Daily chart Stock has formed “Bullish Engulf” candlestick pattern with decent volume breakout. Daily RSI, Stochastic and MACDh has given Buy signal. Weekly chart has also formed strong White candle suggest up move in coming week. Looking at all above statement Trader can buy in the range of Rs.382 to Rs.377 with tight stop loss of Rs.370 for a target of Rs.402.
