Friday, March 30, 2012

Free Share Trading Tips

Industry Evaluation for 30 March 2012

Nifty (5178) we said `technically the industry is still vulnerable with no sign of durability but we now business into F&O expiration... some of the signs or symptoms are expanded and it could outcome in a chaotic modification... actually one more dip could set it up further' the industry exchanged weeks time as there was no sign of durability... we had one more dip as predicted and Effective tried ascending up from the low but shut slightly in the red... officially the industry is still vulnerable and is going further into the oversold location and that could outcome in a response.


Technical Pick

Orchid Chemical
type created an inter mediate base at Rs123 on Jan 02, 2012 as noticeable on the data above and there forward for 25 dealing classes it was going in the in place route. After creating a top at Rs. 196, for the last 32 dealing classes it is rotaing between Rs196 and Rs165 as noticeable on the data above.

At Rs165 it had established a ‘Double Bottom’ and there forward it is increasing for the last 5 dealing classes.

We presume it is developing a ‘Contracting Triangle’ for last 32 dealing classes. The whole up shift from Rs. 123 to Rs.196 has been retraced less than 50% regardless of getting a longer period, which is a favorable sign.

This inventory is dealing below the down sloping dark-colored pattern range attracted on the data above and once this pattern range is breached, a crisper upmove will start. The present value of this pattern range is at Rs. 186.

Recommendation: Acquire Orchid Chemical type between Rs180 and Rs174 for Constant cost objectives of Rs200 and the Rs220 in one 30 days. Keep a stop-loss of Rs168 on the ending base.

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