Power Grid--->7th jan 2013

View on Chart: On daily cards, stock is trading at crucial range and is likely to provide break in coming week. Probability to have upside breakout is high and if it holds 112/113 levels, then we can an action towards 117-121-124 levels in coming days. Move below 112 will be considered as breakdown and in such case stock can dip up to 108 or upto 105 levels. In both cases, traders should keep stop loss inside 112-114 range.

Escorts & Sintex call with chart-->7th jan 2013

Prices 

have given breakout above the Neckline level of

 Inverted Head n Shoulder Pattern with breakout point at 70  & Upward target of 16 points above such neckline level. More than above average volumes
observed, in recent times. Till closing is above 70 level it looks good for BUY.
BUY till closing is above 72.5 level with Stop below its previous Support zone, mentioned. Book Profit
near resistance zones.
CMP – 75.7.
RESISTANCE – 77, 79, 82 SUPPORT – 74.5, 72.5, 70             

 

 Prices have earlier formed a Higher Low formation on a longer timeframe at points {Low 1, Low 2 & Low  3}  indicating possibility of considerable upward movement. Along with this it has formed an Inverted Head & Shoulder Pattern with Neckline at 70 level & upward target of 10 points above such Neckline Level. Both the above two patterns hint towards possibility of good Bull run. Now BUY above 70.5 closing.
BUY above 70.5 Level with Stop below the Support Levels mentioned. Book Profit near resistance zones mentioned, below.
CMP 70.
RESISTANCE - 72, 73.5, 75.5 SUPPORT –67.5, 65, 63.5