Glenmark breaks out in weekly charts.

Glenmark Pharma (BSE code: 532296) has made a cup and handle chart pattern in weekly charts and looks set for newer highs. CMP is 699 and stop loss of 620 on daily closing basis should be adhered to for long positions. Targets are 820 and 900.

Bartronics set for new highs!

Bartronics has broken out of an important resistance zone on good volumes. The stock has made a pullback to the trendline and cmp is 130.45. Long positions can be taken with a stop loss of 120 on daily closing basis and target is 170.

TTK Prestige is a stock to watch out for!

TTK Prestige (BSE code 517506) has broken out of a trading range and looks set to test 150. CMP is 130 and long positions can be take on a move beyond 135. Stop loss should be 124 on daily closing basis.

Reliance Ind. infra. looks bullish.

Reliance Ind. Infra (BSE code: 523445) has broken out of a long term downward sloping trend line and after a pullback looks set to move to higher regions. CMP is 482.30 and long positions can be considered with a stop loss of 449 on daily closing basis. Upwards the stock can 520 and 570.

Unbelievable!

The Dunk of the playoffs!

NIIT Tech. looks promising.

NIIT Tech. has consolidated after making an all time high at 535 on 20th Feb, 2007 and now looks set to challenge that price. CMP is 487.65 and the breakout above 480 levels which was a supply zone has been on very good volumes suggesting a strong upmove. Stop loss for long positions should be 440 on closing basis and targets of 535 and 600 are achievable.

Syndicate Bank legs up!

Syndicate Bank (BSE code: 532276) after breaking out of the downward sloping trendline has made another leg up with above average volumes. CMP is 79.65, and above 80 the stock can touch 83 and then 86. Stop loss should be 76 on daily closing basis.

Nifty is Fifty-Fifty

S&P Nifty index has been falling for the past three sessions. Unable to make a new high the index is struggling at 4080 levels. A close below 4020 will be short term bearish and can take the index down to the 50 day moving average which is currently at 3866. Futures can be sold with a stop loss of 4200 on daily closing basis in spot nifty. Alternatively 3900 puts can be bought at 45-50 Rs. These puts have the potential to double.

Sensex makes a Key Reversal Day!

Sensex made a significant signal on 4th May, 2007 (Friday). The index opened higher than the previous trading day's high (14107.06) went on to make a higher high intra day and closed lower than the low of the previous day (13987.77). This makes this session a Key Reversal Day with the highest volumes in the recent rally from the 200 dma which is now at 12869. This can mean that the index may start trending downwards and 13650 is the level to watch. A close below this figure will have short term bearish implications and index can again retest the 200 dma. A close above 14400 will negate this bearish premise and take the markets to new highs.

Piramyd Retail sees some accumulation

Piramyd Retail (BSE code: 532679) is witnessing a volume spike which took its price from 61.35 to 65.00, Long positions can be considered at current and lower levels with a stop loss of 60 on daily closing basis. 70-74 is the profit booking zone.

Petronet LNG gets set!

Petronet LNG (BSE code:532522) has generated good volumes over the past few days.The stock is trapped between 45 and 48 levels. Long positions can be considered with a stop loss of 44.90 on daily closing basis. Targets are 50 and 55

DCB breaks out!

DCB or Development Credit Bank (BSE code: 532772) has closed at 75.55 with increasing volumes. Long positions can be considered with a stop loss of 70 on daily closing basis. Targets are 80 and 86.