Technical Calls 17 December 2009
Sterling Biotech (99)
Stock has formed “Long White Candle” bullish candlestick pattern and broken 13 days old consolidation phase. After late October stock has first time tested 50 DSMA which is a quite bullish sign if stock breaks 99.50 level. Daily RSI, Stochastic and MACDh are giving positive cross over. Looking at all above observation trader with high risk appetite can buy above Rs.99.50 with Stop Loss of Rs.96 for a Target of Rs.107.
Wipro (671)
Stock is continuously forming higher highs and higher lows pattern on daily chart. Daily RSI and Stochastic also following same pattern which suggests momentum is likely to continue, More over volume is also showing increasing trend since last 4 trading days. Looking at all above observation stock is likely to test high of Rs.691 level of February 2007. Trader with high Risk appetite can Buy above Rs.672 with stop Loss of Rs.664 for a Target of Rs.691.
Stock has formed “Long White Candle” bullish candlestick pattern and broken 13 days old consolidation phase. After late October stock has first time tested 50 DSMA which is a quite bullish sign if stock breaks 99.50 level. Daily RSI, Stochastic and MACDh are giving positive cross over. Looking at all above observation trader with high risk appetite can buy above Rs.99.50 with Stop Loss of Rs.96 for a Target of Rs.107.
Wipro (671)
Stock is continuously forming higher highs and higher lows pattern on daily chart. Daily RSI and Stochastic also following same pattern which suggests momentum is likely to continue, More over volume is also showing increasing trend since last 4 trading days. Looking at all above observation stock is likely to test high of Rs.691 level of February 2007. Trader with high Risk appetite can Buy above Rs.672 with stop Loss of Rs.664 for a Target of Rs.691.
