08 Oct 2010 | 17:10
ABGSHIPYARD-Weekly Break-Out
Weak Signal
Free Stock Tip of the Day (11-Oct, 2010)
| Company | Action | Price | SL | Target | Remarks |
| NAUKRI | Buy | Around 752-755 | 740 | 785 | Intraday |
| | | | | |
Src:SHaregyan
TECHNICAL ANALYSIS: Query corner: Union Bank in a structural bull run
I have shares of Pipavav Shipyard purchased at Rs 84. Please give your 6-month view on the stock. Should I hold it or book loss? Suresh ...
I have shares of Pipavav Shipyard purchased at Rs 84. Please give your 6-month view on the stock. Should I hold it or book loss? Suresh ...
TECHNICAL ANALYSIS: Sizzling Stocks
The stock witnessed buying interest on October 5 and subsequently its uptrend got accelerated as the stock appreciated by about 27 per cent this week. The last three trading sessions were also accompanied with an increase in volume. This up ...
The stock witnessed buying interest on October 5 and subsequently its uptrend got accelerated as the stock appreciated by about 27 per cent this week. The last three trading sessions were also accompanied with an increase in volume. This up ...
Sizzling Stocks
The stock witnessed buying interest on October 5 and subsequently its uptrend got accelerated as the stock appreciated by about 27 per cent this week. The last three trading sessions were also accompanied with an increase in volume. This up move has penetrated the stock's short-term resistance at Rs 170 and the stock is trading well above its 50 and 200-day moving averages. It currently faces its next key resistance at about Rs 190. Since February trough of Rs 93, the stock has been on a medium-term uptrend. As long as the stock stays above Rs 140, this medium-term uptrend remains in place.
In the short-term, if the stock fails to surpass the resistance at Rs 190, a pullback to Rs 170 or Rs 155 can happen before it resumes higher. However, a strong up move above Rs 190 will lift the stock to Rs 215 to Rs 220 range in the medium-term.
Biocon (Rs 412.3)
The stock has been on a long-term uptrend from its March 2009 low of Rs 90, forming rising peaks and troughs. Its uptrend got reinforced last week as it jumped up by about 12.7 per cent accompanied with good volumes. It recorded new life-time high of Rs 415.9 on Friday. Medium and short-term trends are also up for the stock.
However, both the daily and weekly relative strength indices are hovering in the overbought territory, signalling cautiousness. The stock is also featuring above the upper boundary of the daily Bollinger Bands. This could imply a near-term correction to its immediate support at Rs 360. Next significant support for the stock is at Rs 330. Following the correction, the stock can move higher to Rs 430 in the medium-term. — Yoganand D.