Technical Calls:JP Associate and Larsen

By | April 12, 2011

Jai Prakash Associate

Traders favorite staged a nice rally from low of Rs 70 to high Rs 98  from the oversold zone.As seen from Daily charts stock is on a crucial levels now at its support of Rs 91.4

If 91.4 gets broken than stock can move till low of channel as shown in chart.

Formation of Higher Low and Higher Highs are visible on daily chart which is bullish for short term

For tomorrow Trading

Sell Below 91.4 Tgt 89.35,88.7 and 87.8

If 87.35 is broken on closing basis Exit short term longs held.

Larsen

LT is locked in trading range from 1642-1705 with the formation of multiple doji in past 7 trading sessions.Till the trading range is not broken aviod trading in Larsen for time being

Consolidation pattern will be led by range breakout from either upside and downside.

Buy on Close above 1705 Tgt 1725,1754 and 1800

Sell below 1642 Tgt 1615 1560

 

 

 

 

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