Short-Term Trading

By | May 2, 2010

ICICI Bank

Attached is the Daily Chart of ICICI Bank as Observed from the chart Stock has taken a multiple support at 913 levels and than staging a rally.Stock has formed a DOJI pattern as on Friday and also facing resistance at its a trenline,Forming a Falling Wedge Kind of Chart,If stock Breaks the trendline on Upperside than we are bound to see a good upmove in the stock and mometum can lead the stock to touch a new 52 Week High.

Buy around 927-37 range and for a target of 961 979 995 and 1039 SL of 913 on all Longs Initiated

Uttam Galva Steels

As Seen from the Charts Stock is locked in the range of 111-119 and Locked in between its 50 and 100 SMA.Stock is low volatile and good for trading for low risk traders,OBV oscillator is showing accumulation is happening in this counter. 119 needs to be crossed with Volumes to achieve 123.

Buy above 116 Tgt 119 and 123.

MPHASIS


Stock is facing a Resistance at its 100 DMA which is at 688 and once it moves above it a good buying should emerge as it has been an elusive levels for a Long period of time,Stock has been consolidating from past 2 months and It has Completed its Inverse HnS Pattern with Neckline placed at 675.RSI is also showing Positive Divergence

Buy above 668 Tgt 694 707 and 728 with SL 660


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