Technical Calls 15 December 2009
India Cement (120.40)
Stock has formed “White Opening Marubozu” bullish candlestick pattern and also Stock has broken previous swing high with decent volume breakout on daily chart. Daily Momentum Indicators RSI, Stochastic and MACDh are giving buy signal. Strong support formed at 3 DEMA which is at 118 level. Looking at all above evidence trader with moderate risk appetite can Buy above Rs.121 with tight stop loss of Rs.117 for a Target of Rs.130 in Near Term.
NIIT Tech (176.55)
Stock has formed “Long White Candle” bullish candlestick pattern with decent volume on daily chart also stock has given good close above important resistance zone of 174-176 level. Daily RSI and Stochastic has given positive crossover on daily chart where as MACDh is still giving negative signal. Looking at current momentum, stock has potential to test 188 level in short term. Trader with high risk appetite can Buy above Rs.177 with tight Stop loss of Rs.172 for a Target of Rs.188-Rs.190 in short term.
Stock has formed “White Opening Marubozu” bullish candlestick pattern and also Stock has broken previous swing high with decent volume breakout on daily chart. Daily Momentum Indicators RSI, Stochastic and MACDh are giving buy signal. Strong support formed at 3 DEMA which is at 118 level. Looking at all above evidence trader with moderate risk appetite can Buy above Rs.121 with tight stop loss of Rs.117 for a Target of Rs.130 in Near Term.
NIIT Tech (176.55)
Stock has formed “Long White Candle” bullish candlestick pattern with decent volume on daily chart also stock has given good close above important resistance zone of 174-176 level. Daily RSI and Stochastic has given positive crossover on daily chart where as MACDh is still giving negative signal. Looking at current momentum, stock has potential to test 188 level in short term. Trader with high risk appetite can Buy above Rs.177 with tight Stop loss of Rs.172 for a Target of Rs.188-Rs.190 in short term.
