Technical Calls 9 December 2009
L&T (1656)
Stock has broken six days consolidation phase and given two month old supply line breakout, in addition Daily Chart has formed “Inverse Head and Shoulder Pattern” which sets short term target of Rs.1800 level. Daily RSI, Stochastic and MACDh are giving buy signal. Looking at all above evidence trader can buy above Rs.1659 with tight stop loss of Rs.1643 for a Target of Rs.1695-Rs.1710.
Bharti Airtel (329)
Stock has made “Rounding Bottom” formation on daily chart with decent volume. Stock is trading above its 34 DEMA from last two trading days, which suggest momentum is likely to continue. Daily RSI, MACDh and Weekly RSI are giving buy signal, where as Stochastic is still in over bought zone. Looking at all above statement Trader with moderate risk appetite can buy above Rs.331 with tight stop loss of Rs.323 for a Target of Rs.345.
Stock has broken six days consolidation phase and given two month old supply line breakout, in addition Daily Chart has formed “Inverse Head and Shoulder Pattern” which sets short term target of Rs.1800 level. Daily RSI, Stochastic and MACDh are giving buy signal. Looking at all above evidence trader can buy above Rs.1659 with tight stop loss of Rs.1643 for a Target of Rs.1695-Rs.1710.
Bharti Airtel (329)
Stock has made “Rounding Bottom” formation on daily chart with decent volume. Stock is trading above its 34 DEMA from last two trading days, which suggest momentum is likely to continue. Daily RSI, MACDh and Weekly RSI are giving buy signal, where as Stochastic is still in over bought zone. Looking at all above statement Trader with moderate risk appetite can buy above Rs.331 with tight stop loss of Rs.323 for a Target of Rs.345.
