Nifty,Gelnmark Pharma and VOLTAMP TRANSFORMER

By | June 1, 2011

Nifty Hourly Chart

As seen from Hourly Chart Nifty was unable to cross 5600 which is the swing high before the previous fall. Negative Divergence was observed in RSI but we would require a price confirmation of the same.

Nifty was able to cross over 5565 the Fibo resistance which is a booster to Bulls now as Dow is already down -217 so we will have negative cues tomorrow morning as this dip should be bought into with sl of 5536 for positional trades

Intra Day levels

Buy above 5568 Tgt 5582,5606,5637

Sell below 5559 Tgt 5545,5530,5510

 

 

VOLTAMP TRANSFORMER

Voltamp moved up today with huge volumes and gave a rally of 14% and in the process crossed over its significant short term resistances.

As can be seen from above daily chart Stock was moving in a downward trending channel and today upmove it went above that channel.

But the stock was unable to cross it’s 100 DMA@604.Crossover above this will have further upmove in the Stock

Buy above 604 Tgt 620,635 and 658

 

Glenmark Pharma

Healthcare Stocks are on the run these days and Glenmark Pharma also gave a good move from low of 285 odd till 310 levels.

Now there is a tough fight at 200 DMA @311. Only a close above this will get momentum back it in the stock on upside.

 

Buy above 311 Tgt 313.3,318 and 327

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