Wednesday, January 6, 2010


Idea give breakout today. Last three days price action is a Morning Star followed by a Bullish Flag Breakout. The stock's target price works out to 67 - 70. With Stop loss of 58.50(monthly Pivot Point).

DivisLab: Long Term Pick:
Based on Long term Weekly trend, the stock can run up and make new highs.

Weekly Chart:

Intraday Chart: 30 min breakout:
The stock has been consolidating in the price from 680 to 640, even making an Inverted Head & Shoulders on 30  min charts with Neckline at 680. The current price of stock is 693 with breakout zone 680. Also, based on EOD chart, the chart has given a break to 5 Day Swing with Stop Loss now becoming 660 for long trade, while based on 10 days EOD chart the swing stop loss is 656.20.

Falling Wedge, Triangle Breakout on 4 jan  2010, with volumes. The stock is currently at 778.35. The target works out to 850, with low stoploss of 700, where the stock turns to Head and Shoulder structure, where below 700, can reac to Rs. 500, if turns to a successful Head and Shoulder.

1) As of now Stock has broken 10 day swing on 4th Dec with today been an Inside Day.

2) Inside day: on stock with range breakout zone been: 797.7 on upside and 765 on the downside

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
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