Sunday, September 18, 2011

Bottom fishing...!

Some stocks that look ripe for bottom fishing...!

UNITECH

Reason :
RSI making higher high 
the down tendline is broken.
Stoch on a up cycle.
Plenty of buyers above the 29 mark as that is the top of the range for some time now.
Expecting upsurge above the 31.75 mark.

Stop loss is a eod close below the 26.10 mark.
Target : 31.75 and then 36...!




UNION BANK

Reason :
Rsi making higher high
Down trendline broken
DIvergence on stoch
Was trading is a range for some time, can be assumed as accumulation
Expecting upsurge above the 245 mark.

Stoploss :EOD close below the 226 mark
target : 283



BARTRONICS

Reason :
Inverted HNS on CS
Stoch on up cycle
Weekly value (TS)  already above the monthly value (KS)

Buy only if we get a bar close above the 56.6 mark,
stoploss  54
Target :63 



SBI
Reason :

Clean divergence on RSI
clean divergence on stoch
down trendline about to break
All the banks are showing buy signals so better be with the leader...!

stoploss : 1830
target 2279

expecting up thrust above the 1996 mark....








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