Friday, July 16, 2010

Broader Market outperforms somewhat, this trend to continue till Nifty does not break 5230-5250 on closing basis.

Stock View: AdorWeld

Adorwelding stock is trying to breakout from previous tops around 220 plus there is a possible triangle formation also. Buy Ador Weld only if it sustains above 224-225 with a stoploss of 218 and look for targets 235-240 in extreme short term..



Stock View: Skumars

Skumars stock has given a breakout from its 2 month long triangle pattern and breakout has come with very good vols which is a good sign for the stock. Buy Skumars at current levels of 80 with a stoploss of 75 on closing basis and look for targets of 90/95 in 10-15 days.




Have a nice trading day

Regards

Ankit

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