Stock View: Siyaram Silk Mills
This stock is trying to breakout from red resistance line plus there is a purple trendline which is giving support since 2009. The stock is in good shape till it stays above this purple trendline. Buy Siysil at current levels around 155-157 with a stop loss 150 on closing basis for targets of 165/172. Trade in small qty as vols are usually low in the stock.
Stock View: Elgi Equip
Elgi Equipments is looking good on charts, it needs to cross this red line convincingly to give a breakout. The stock can be bought at current levels of 88-89 with a stop loss of 84.5. A move above 92-93 will bring momentum to this stock and may take it to targets of 100/107. Watchout for higher volumes while its breaking out.
Have a nice trading day
Regards
Ankit
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