Technical Calls 24 December 2009
Yes Bank(268)
Stock is making rounding bottom formation on daily chart and yesterday stock closed near it high point , which depicts up move is likely to continue. Daily momentum indicators are hovering bullish zone. On moving average front 3 days EMA has given positive cross over to 8 Days EMA. Stock is showing decent volume since last two days. Looking at all above evidence trader with high risk appetite can consider Buy above Rs.269 with tight stop loss of Rs.263.50 on closing basis for a Target of Rs.277-280.
India Cement (121)
Stock has formed “Long White Candle” Bullish Candlestick Pattern with decent volume breakout on daily chart. Double top formed at 121.75 level once it crosses then as per swing study stock is set to test 130 level in coming days. Daily RSI, Stochastic and MACDh are hovering in bullish zone. Looking at all above evidence trader with moderate risk appetite can consider Buy above Rs.122 with Stop loss of Rs.119 on closing basis for a Target of Rs.130.
Stock is making rounding bottom formation on daily chart and yesterday stock closed near it high point , which depicts up move is likely to continue. Daily momentum indicators are hovering bullish zone. On moving average front 3 days EMA has given positive cross over to 8 Days EMA. Stock is showing decent volume since last two days. Looking at all above evidence trader with high risk appetite can consider Buy above Rs.269 with tight stop loss of Rs.263.50 on closing basis for a Target of Rs.277-280.
India Cement (121)
Stock has formed “Long White Candle” Bullish Candlestick Pattern with decent volume breakout on daily chart. Double top formed at 121.75 level once it crosses then as per swing study stock is set to test 130 level in coming days. Daily RSI, Stochastic and MACDh are hovering in bullish zone. Looking at all above evidence trader with moderate risk appetite can consider Buy above Rs.122 with Stop loss of Rs.119 on closing basis for a Target of Rs.130.
