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Technical Pick: Buy India Glycols above Rs93.50 - IndiaNotes.com
Technical Pick: Buy India Glycols above Rs93.50
HDFC Sec | Published: 11 Feb, 2014  | Source : IndiaNotes.com
Technical Stock Pick: India Glycols

Observation:

   
- The stock is showing positive bias for the short term.

- Price is likely to breach the channel setup which indicates that new bullish leg has started.

- One corrective leg has ended at 87.10. The corrective leg from 111.8 to 87.10 is a complex correction.

- Price has started making higher top higher bottom on hourly chart which is sign of bullish reversal.

- Now price has started retracing the corrective leg. It is heading towards 50% and 61.8% levels i.e. 99 and 102 levels.

Recommendation:
HDFC Securities recommends investors to buy India Glycols above Rs93.50, for a price targets of Rs99/102, with stop loss placed at Rs88.80 in 5-7 days
  Read full report Click here to read the full report


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.

 
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