Technicals on IOC and Allabhad bank

By | February 14, 2011

IOC(Indian Oil Corporation)

As Crude has come down in past 2 days coz of Egypt President handling the power and civil reset calm down in Egypt.IOC should be good beneficiary in crude cooling off.

IOC is trading in parallel  channel taking support at bottom trendline and now will head towards on upper trendline around 323

Buy above 316 Tgt 318,323 and 328 Sl 308

Allabhad Bank

Stock made a smar pullback on friday with a 5% gain backed by short covering on Banks Stocks.

Stocks is now moving in zone of Resistance

20 DMA has crossed 200 DMA on downside making a Death Cross.

200 DMA @ 205.7 Levels

Buy around 199 Tgt 203 and 206 Sl 195

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