Rationale for call: Stock had generated trend line breakout on its daily chart. Oscillator on daily and weekly chart depicts bullishness with RSI and Stochastic generating bullish crossovers.
Buying is recommended at CMP of Rs 733.7 with target of Rs 780 and stop loss of Rs 700.
Rationale for call: Stock had been in continues uptrend since October 2010 which is depicted by higher top & higher bottom on its chart. It had bounced back multiple times from its 20 DEMA indicating strong support for short term. Further, it is forming triangle pattern on its daily chart and can witness breakout if it crosses Rs 509.Oscillator on weekly chart continue to trend upward after generating bullish cross which further support our view of possible triangle breakout mentioned above.
Buying is recommended at CMP of Rs 498.9 with target of Rs 550 and stop loss of Rs 475.
Rationale for call: Stock broke the resistance of 1,510 with huge volumes as well as short term averages had given a buy signal. On the daily chart Oscillator had given a positive divergence, as well as ADX had given a buy signal, thus going forward this stock is looking strong and in the coming days we will witness further upside.
Buying is recommended at CMP 1,511 with target of Rs 1,615 and stop loss of Rs 1,470.
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