Technical Calls on ABAN offshore,BF utility and Ahmednagar Forging

By | August 5, 2010

ABAN Offshore

Aban Offshore is near its long term trendline and qualifies for a short term buy if it is able to break the trendline resistance of 915 on upside.Volumes are on higher side and RSI indicator showing strength which is trading abovr 50

Buy above 915 Tgt 924 and 936( 943 which is 100 DMA resistance in immediate term)

Ahmednagar Forging

Ahmednagar Forging is stuck in trading range of Rs 119-141 as shown in charts .Last trading sessions touched the higher end of trading range on an expanded volumes as compared to last time.It is giving me conviction that Stock is bound to give a breakout on upside and oppurtunity is der to make a few quick bucks in this counter.

Buy above 141 tgt 146 and 152 SL 134

BF Utility

BF Utility after staging a extraordinary rally and climbing almost 50% in matter of few trading sessions.We have identified the script around Rs 830 and it went and made a high of 1055 after that.

Revisiting the chart again we can see stock is on a crucial junction of 200 DMA and it might turn itself into a bear phase it unable to defend level of Rs 970 on closing basis.

Long above 992  tgt 1000 1025 and 1041 Sl 971

Short below 971 tgt 958,942 and 930

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