Trading Calls:BEML and SAIL

By | February 17, 2011

BEML

BEML has been in downtrend for 15 trading sessions in a row on back of some rumors by CAG on inflating there books which has no substantial evidence but was able to crash the stock for 30% in matter of 3 trading sessions.

Stock is trying to cover up its lost ground and was able to cover 1 red candel of 3 formed on daily charts but with declining volumes,on basis of short covering only.

On Technicals terms stock looks ripe for a bounce back as it is moving between 5 DHEMA@678.2 and 5 EMA @ 658.

Close above 678.2-780 will bring back buying in the stock.

If we see the weekly charts the and take fibo resistance from high of 820 to low of 570

50% @696 and 61.8% @ 725

These 2 are resistance once 680 range is crossed and stock do a closing above it.

Buy above 680 Tgt 696 and 725 Sl 657

SAIL

Bullish Wolf Wave Formation on SAIL Weekly Charts with positive divergence in RSI

Buy above 169 for Tgt of 193 (Positional Call Based on Weekly Charts)

On Daily Charts we can see a parrell trendline with Wolf wave

Buy above 164.65 Tgt 166.1 and 168.3

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