Technical Call 18 December 2009
Godrej Industries (179)
Stock has formed “Morning DOJI Star” bullish candlestick pattern with strong volume breakout on daily chart after 10 down days move which suggest bull power in stock. 5 Days RSI is coming out of over sold zone and has given positive cross over. Stochastic and MACDh is also showing strength for bulls. Looking at all above observation trader with moderate risk appetite can consider Buy at current level with tight stop loss at Rs.174 for a Target of Rs.190.
HDIL (350)
Stock has formed “Bullish Engulf” bullish candlestick pattern at 50% retracement level of previous corrective wave with strong volume breakout on daily chart which emphasize up move. More over stock has broken late October upper trend line. Daily Momentum indicators are showing positive crossover. Above all statement suggest trader with moderate risk appetite can Buy above 352 with stop loss of Rs.344 for a Target of Rs.365.
Stock has formed “Morning DOJI Star” bullish candlestick pattern with strong volume breakout on daily chart after 10 down days move which suggest bull power in stock. 5 Days RSI is coming out of over sold zone and has given positive cross over. Stochastic and MACDh is also showing strength for bulls. Looking at all above observation trader with moderate risk appetite can consider Buy at current level with tight stop loss at Rs.174 for a Target of Rs.190.
HDIL (350)
Stock has formed “Bullish Engulf” bullish candlestick pattern at 50% retracement level of previous corrective wave with strong volume breakout on daily chart which emphasize up move. More over stock has broken late October upper trend line. Daily Momentum indicators are showing positive crossover. Above all statement suggest trader with moderate risk appetite can Buy above 352 with stop loss of Rs.344 for a Target of Rs.365.
