Weekly Technical Calls on Financial Technology,IRB Infra,NELCO,Crest Animation and Varun Industries

By | August 21, 2010

CREST ANIMATION

Crest Animation is having its Borad Meeting on 23 August and if we get some positive news we can accept another 10% upper Freeze.

Technically Speaking as shown in charts stock is news its medium term resistance trend line and MACD is giving a cross over making a case of bullish move.

Buy above 99.2 Tgt 101.6,104 and 107

NELCO Limited

NELCO took support at its 200 DMA for almost 6 trading sessions and than after consolidating and made a up move on Friday and stopped at its short term trendline resistanct at 124.

MACD showing positive signals,RSI and MFI are looking strong.

Buy above 126.5 Tgt 133 and 141

Varun Industries

Varun Industries after posting excellent results made a supreb rally from a low of 11 to high of 164,During the course of action Varun was able to cross it 200 DMA with ease and making a way for its trend transition from Bear to Bull region.

Varun is facing resistance at its medium term trendline at 164 rs if thats taken out you will easily see a move till a new 52 week high.

Buy above 164 tgt 167,176 and 188

IRB Infrastructure

On daily chart RSI has been consistently trading above 50 mark since last one month which also exhibit strength in the counter
accompanied with expansion of volumes during the price rise. On the weekly chart, MACD as signaled a fresh buy signal with crossover taking above the reference line.
On the downside, 10-DMA will provide support. As long stock is able to sustain above the 305, positive momentum in the short term
is likely to remain upbeat.

Buy @ Rs302-305 with stop loss of Rs291 for target of Rs325 and Rs330.

Financial Technology

FT is near it Trend Transition from Bear to Bull with a move above its 200 DMA.On seeing the Daily Chart of Stock we see there are 2 main resistance one 200 DMA and 50% Fibonacci Retracement Level @14341439.

Buy on close above 1439 Tgt 1469 and 1516.

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