Hero leads from the front!

Hero Honda has broken out of a sideways range in weekly charts after almost 2 years. All time highs look sure to be tested and broken. Pullbacks can be used to accumulate.

Mcleod Russel is brewing!

Mcleod Russel (BSE code: 532654) is breaking out on strong volumes in the weekly charts. The stock is in an intermediate uptrend and can challenge all time highs around 160. Pullbacks should be used to enter into the stock.

Reliance Ind. at key resistance zone

Reliance Ind. has reached a key resistance zone @ 2650. It has failed at this level quite a few times after the crash in january. Positions can be taken by using options. For bearish strategies, puts can be bought and if breakout takes place then call options can be taken.

Hind.Oil Exploration reaches 1st target of 148

Hind.Oil looks set for a nice move up!

Hind. Oil Exploration has consolidated well and broken out of this zone of 88-118 on good volumes. Stock may reach 148-150 and then 170 if markets remain bullish. Stop loss of 113 on closing basis would be prudent.

Stocks with dandruff!

Some stocks which seem to display a Head and Shoulders Top pattern which is bearish by nature and can give pretty accurate targets if the pattern plays out.

Larsen Toubro breaks down from flag pattern

Larsen and Toubro has broken down from a bearish flag pattern and with good volumes. 2600 is the last hope and 2330 is the next target on the downside. Medium term it can go to 2000.

BRFL at resistance levels

Bombay Rayon (BSE code: 532678) is trading in a descending channel and has reached the upper line and facing some resistance. CMP is 298.15 and a short position can be taken if the stock shows weakness and closes below 295. Stop loss can be daily closing above 305.

Sesa Goa on important supports!

Sesa Goa has taken support on 2800 for the 4th time since it bounced back from the january 08 lows of 2000. This support is critical and a close below it will be bearish for the stock.

Bingo! ITC looks set to crack resistance

ITC ltd. is at a critical level in its recent uptrend and has been a market outperformer. The stock is at a critical level and a convincing close above 214 will give it room to go for the recent high of 236. Long positions can be taken with a stop loss which should be used considering the overall bearish market sentiment.

State Bank looks set to fall to 1400 levels

State Bank of India had bounced off 1580 (pt. A in the fig). After a small bounce the stock has ended near 1598 and if the recent bottom of 1580 is broken, then the next support comes in around 1400 levels which is a fibonacci retracement for the rally in the stock from 680 levels to 2400.