A Quick analysis on some stocks
Orchid Chem: We had written on this some days back but the stock didn't make a breakout then.
There is multiple resistance at the top end of the channel crossing which the stock can give a good trade.
Note: Entry should be only AFTER the breakout as prices can rush back into the channel also.
Tata Motors:
A symmetrical triangle from a bigger perspective and a channel from a bit smaller.
A breakout from the prices mentioned can make the stock test its 52-week high.
LIC Housing Finance:
The stock has successfully tested the breakout level of 200 (in MARCH). A breakout from above the channel indicates that the momentum should continue further. Also the Stochastic and the RSI point towards the same.
REC:
From March 2010 to October 2010, the stock was rising rapidly in a trend.
From Oct 2010 to March 2011, this stock would have been a favorite of any one who shorts.
A classic trending stock. :)
The stock seems to have made a bottom at around 215-217 levels. A third (successful) test of such bottom can be indicative of a reversal. Buying is recommended in smaller quantities at the start with pyramiding later on. RSI points towards reversal.
Orchid Chem: We had written on this some days back but the stock didn't make a breakout then.
There is multiple resistance at the top end of the channel crossing which the stock can give a good trade.
Note: Entry should be only AFTER the breakout as prices can rush back into the channel also.
Tata Motors:
A breakout from the prices mentioned can make the stock test its 52-week high.
LIC Housing Finance:
REC:
From Oct 2010 to March 2011, this stock would have been a favorite of any one who shorts.
A classic trending stock. :)
The stock seems to have made a bottom at around 215-217 levels. A third (successful) test of such bottom can be indicative of a reversal. Buying is recommended in smaller quantities at the start with pyramiding later on. RSI points towards reversal.
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