Tuesday, August 24, 2010
5560 - 5600 now becomes the next ressistance zone as slowly range is shifting upwards. A blow out rally or a sharp correction should be coming your way in next few days.
Stock View: Jindal South West Holdings
The stock has broken out from 8 month long triangle pattern with huge vols and is looking gr8 on charts. In this up move it should face some resistance around 1970 levels. Buy JindalSWHL at current levels around 1855-1865 with stoploss of 1800 on closing basis and look for targets of 1970/2100 in short term.
Stock View: West Coast Paper
The stock has broken out with huge vols from an upward flag pattern and is looking good on charts. The closing above 100 ( last 3 tops ) for the stock is also a good sign. Buy westcoast paper at current levels of 102 with stoploss of 97 on closing basis and look for targets of 115/120 in short term.
Have a nice trading day
Regards
Ankit
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