Technical Calls 6 January 2010
GMR Infra (69)
Stock has formed “Long White Candle” bullish candlestick pattern with strong volume breakpout on daily chart. 3 days EMA has given positive cut to 8 Days EMA from below. Daily RSi entered in bullish zone as well as Stochastic and MACDh are in bullish mode on daily chart. Weekly RSI also entered in bullish zone and given positive cut to signal line. Looking at all above technical parameter trader with moderate risk appetite can consider buying at current level with stop loss of Rs.67 on closing basis for a Target of Rs.72-74.
IDFC (162)
Stock has formed “Long White Candle” bullish candlestick pattern with strong volume breakpout on daily chart. 3 days EMA has given positive cut to 8 Days EMA from below. Daily Momentum indicators are entered in bullish zone suggesting strong up move. Since last five days volume is showing increasing trend on daily chart. Looking at all above evidence trader with high risk appetite can consider buy above Rs.163 with tight stop loss of Rs.158 for a Target of Rs.172.
Stock has formed “Long White Candle” bullish candlestick pattern with strong volume breakpout on daily chart. 3 days EMA has given positive cut to 8 Days EMA from below. Daily Momentum indicators are entered in bullish zone suggesting strong up move. Since last five days volume is showing increasing trend on daily chart. Looking at all above evidence trader with high risk appetite can consider buy above Rs.163 with tight stop loss of Rs.158 for a Target of Rs.172.
