Monday, October 25, 2010

5965-6125 seems to be the range as of now. Stock specific moves likely to continue.

 
Stock View: BASF

A nice flag pattern formation on the charts of this stock, a move will 703-705 will considered as a breakout. Its a low volume stock and gives good moves in a single day but watchout for the vols, it should be greater than normal days then only it would be confirmed as a breakout otherwise it would be a trap. Buy Basf only if it sustains above 703-705 with stoploss of 685 on closing basis and targets 745/760 in short term.



Have a nice trading day

Regards

Ankit

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