Technical Call 2 December 2009
Biocon (267.50)
Stock has formed “Long White Candle “ bullish candle stick pattern on daily chart. Stock has given trend line support at Rs.260 neighboring from 3 November to 26 November. Decent volume seen on daily chart and Daily Momentum oscillator RSI , Stochastic and MACDh is giving buy signal. Looking at all above evidence trader can Buy above Rs.268 with tight stop loss of Rs.263 for a target of Rs.282.
Chennai Petro(220)
Stock has broken late October supply line breakout on daily chart with decent volume. 3 DEMA has given positive crossover to 8 DEMA. Daily oscillators RSI, Stochastic and MACDh are giving strong buy signal and momentum is likely to continue in coming days. Weekly candle and RSI also favoring Bull trend in stock. Looking at all above evidence trader can Buy above 221 with tight stop loss of Rs.215.50 for a target of RS.233.
Stock has formed “Long White Candle “ bullish candle stick pattern on daily chart. Stock has given trend line support at Rs.260 neighboring from 3 November to 26 November. Decent volume seen on daily chart and Daily Momentum oscillator RSI , Stochastic and MACDh is giving buy signal. Looking at all above evidence trader can Buy above Rs.268 with tight stop loss of Rs.263 for a target of Rs.282.
Chennai Petro(220)
Stock has broken late October supply line breakout on daily chart with decent volume. 3 DEMA has given positive crossover to 8 DEMA. Daily oscillators RSI, Stochastic and MACDh are giving strong buy signal and momentum is likely to continue in coming days. Weekly candle and RSI also favoring Bull trend in stock. Looking at all above evidence trader can Buy above 221 with tight stop loss of Rs.215.50 for a target of RS.233.
