Monday, February 28, 2011
Tuesday, February 22, 2011
Friday, February 18, 2011
HCC - Buy (37.20)
The above weekly chart shows the bullish outlook for short term. The stock retracing to 38.2%, 50% and 61.8% levels of fall from 72.80 to 31 which is corrective Impulsive leg and the retracement band placed around 47 to 57 range. The bottom of 33 - 28 range is the good support for bulls on closing basis. The stock exactly took support and started bounce back from 31 – 33.60.The correction got completed on this stock and the stock preparing for the next move. If any chances of extension even it require pullback to the retracement bands.
The daily oscillators are in heavily oversold and recovering the oversold zone with positive divergence. The candle stick pattern of last few days indicates the short term trend reversal on the charts. Minor breakout spotted on daily charts with reasonable volume.
Momentum indicators are supporting our view for short term. The current pullback likely to continue for the Target of 47 - 57 bands.
Dhanlaxmi Bank - Buy (112)
The above weekly chart shows the bullish outlook for short term. The stock retracing to 38.2%, 50% and 61.8% levels of fall from 213 to 94 placed at 140 to 168 range. The bottom of 94 - 97 range is the good support for bulls with high volume which is top of 12/09/2008. The stock exactly took support and started bounce back from 94. Short term support level placed at 108 – 103.The daily oscillators are in heavily oversold and also started recovering from there with positive divergence. The candle stick pattern of last few weeks indicates the short term trend reversal on the charts.
Momentum oscillators and the volume are supports our view for short term. The current pullback likely to continue and heading for the Target of 125 to 140 band. On outer extent stock have the chance to move in the band of 140 to 168 ranges also.
Monday, February 14, 2011
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