Technical Views on Patel Engineering and Kotak Bank

By | March 24, 2011

Patel Enginerring

Patel Engineering has seen a breakdown from high of rs 500 to low of 133 in matter of 1.5 years.Stock has been in news for all bad reasons and corporate governace issues. Price factors everything.

Now Long term Bottoms are made in times of bad news and same apply to Patel. As seen from the chart below stock is forming a base trading in Rectangle

 

Buy above 144 Tgt 148,154 in short term

 

Kotak Bank

Kotak Bank is locked in a range of of 411 to 437 as shown in rectangle.Buy should be advised when the range gets broken for quick moves.

Both 100 DMA and 200 DMA are in range of 433-437 hence making the stock to struugle.

MACD is Buy and Stochastic also giving crossover for BUy

Buy above 438  Tgt 444 and 452 SL 432

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