As you see in the chart, the stock is rangebound since last one and a half months and needs to break 22.5 barrier convincingly for a breakout. Yesterday it crossed 22.5 but could not sustain above it. Buy TNPETRO only if it sustains above 22.6-22.75 with a stoploss of 21 on closing basis and look for targets of 24.5/25 in short term.
Stock View: Dhan Lakshmi Bank
Dhan Lakshmi Bank is looking good on charts as the stock is about to breakout from the triangle pattern. Once the triangle pattern is taken out you can expect stock to move to upper end of the channel. Buy Dhan Lakshmi Bank at current levels of 152 with a stoploss of 146 on closing basis and can look for targets of 160/165 in short term. Momentum and Day traders only enter if stock is sustaining above 156.
Have a nice trading day
Ankit
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