STOCK VIEW

STOCK WATCH :

DELTA CORP è Volume bounces struggling @ 23.6% Ret. mark (CMP: 48.15)

View on Chart: After forming topping out pattern near 80/84 band, stock tumbled sharply to 39/40 levels forming and following falling expanding triangle. From 40 odd levels stock has bounced sharply along with sizable volumes to 49/49.5 levels which is also a 23.6% retracement mark of a complete down-leg and a trend line resistance. Which means that, to have any further bounce towards 56/57 levels, stock must move above 49/50 levels with equally good volumes and on closing basis. Buy either at 40/42 with SL 39 or above 50 with sl 47.5/48. Target: 57/58

MCX è Breakout of wedge pattern.. (CMP: 876.9)

View on Chart: After a huge fall from almost 1600 levels to 820/840 zone, which is also a previous important bottom, stock bounced back with good volumes and has also produced a breakout move from falling wedge pattern. If it continues to hold 820/40 levels, then we can see a good jump towards 910/20 or even up to 1000 mark in near terms. Any move below 820 can invite panic dip in later part.

Buy either near 840 with SL below 820 or at cmp with suitable or 2% SL below buy. Targets: 910/20 and 980/1000 (if crosses 920 with volumes on closing basis).