ICICI BANK LTD. 30713

THE COUNTER SEEMS TO BE FORMING A BASE AROUND ITS SUPPORT AREA OF 915 LEVEL. IT HAS WITNESSED COUPLE OF BOUNCE BACK FROM THE SAID MARK. THOUGH THE COUNTER IS IN A DOWNTREND A POSSIBLE BOUNCE BACK FROM HERE CAN'T BE RULED OUT. WITH THAT NOTE WE RECOMMEND TO TAKE LOW EXPOSURE TO THE COUNTER AT 926 WITH STRICT SL OF 915 FOR THE TGT OF 970-975 IN A SHORT TERM.

DABUR INDIA 29713

EARLIER WE HAD RECOMMENDED THE COUNTER WITH THE TGT OF 168 AND THE COUNTER HAD MOVED AS PER THE EXPECTATION. THE COUNTER SEEMS TO BE IN AN UPTREND AND AGAIN WE RECOMMEND TO TAKE EXPOSURE TO THE COUNTER WITH CLOSING SL OF 158 FOR THE TGT OF 190-195 IN A MEDIUM SHORT TERM. AS MARKETS ARE HIGHLY VOLATILE WE RECOMMEND TO BUY IN SMALL INSTALLMENTS UNLESS AND UNTIL 158 IS NOT BREACHED ON CLOSING BASIS.

ARVIND LTD. 27713

THE COUNTER AGAIN WITNESSED A BOUNCE FROM ITS SUPPORT ZONE AROUND 70 LEVELS. AFTER SEVERAL FAILED ATTEMPTS IT FINALLY MANAGED TO CLOSE ABOVE ITS RESISTANCE AREA OF 78 LEVEL. WITH OTHER INDICATORS TOO LOOKING MODERATELY BULLISH WE EXPECT THE COUNTER TO SHOW INTRADAY STRENGTH IN NEAR FUTURE. RECOMMEND BUY AROUND 80 WITH SL OF 76 TGT 86-88 IN A SHORT TERM.

HELIOS MATH 26713

THE COUNTER IS BREAKING 65 LEVEL, A VERY STIFF RESISTANCE FOR THE COUNTER, ON INTRADAY BASIS AND TODAY IT GAVE A CLOSE AROUND THE SAID LEVEL. IT SEEMS THE COUNTER IS IN A STRONG UPTREND AND MAY CONTINUE TO MOVE NORTHWARDS IN NEAR FUTURE. WITH OTHER INDICATORS TOO  LOOKING QUITE BULLISH WE RECOMMEND TO BUY THE COUNTER AROUND 65 WITH CLOSING SL OF 58 FOR THE TGT OF 78-82 LEVEL IN A MEDIUM TERM.

UNITED PHOSPHORUS LTD. 22713

THE COUNTER WITNESSED GAP UP OPENING JUST A COUPLE OF SESSIONS AGO. IT HAS A RESISTANCE IN 148 ZONE WHICH TODAY HAS BEEN BROKEN ON CLOSING BASIS AND VOLUMES TOO HAVE BEEN HIGHER FOR THE LAST 3 TO 4 SESSIONS. WITH OTHER INDICATORS TOO LOOKING POSITIVE THE COUNTER MAY SHOW INTRADAY STRENGTH IN COMING SESSIONS. RECOMMEND BUY 148.45 SL 143.5 TGT 153-155 IN A SHORT TERM.

SONA KOYO STER 22713

THE COUNTER FORMED A STRONG BASE AROUND 10.5 LEVELS DURING RECENT PAST. FOR LAST 3 SESSIONS IT HAS BEEN WITNESSING HIGHER VOLUMES AND GAVE A FRESH BREAK OUT ON A DAILY CHART. THE COUNTER IS NOW SUCCESSFULLY CLOSING ABOVE RS.11 AND SEEMS TO BE ON THE VERGE OF COMMENCING ITS UPTREND. RECOMMEND BUY AT 11.9 WITH CLOSING SL OF 11 TGT 13.5-14 IN A MEDIUM TERM. 

PNB 18713

THE COUNTER AFTER SHARP FALL ENTERED THE CONSOLIDATION ZONE AROUND 615 LEVEL. IT SEEMS IT HAS FORMED A STRONG BASE AROUND THE SAID LEVEL AND WITH INDICATORS LOOKING MODERATELY BULLISH WE EXPECT THE COUNTER TO SHOW INTRADAY STRENGTH. RECOMMEND BUY AT 636 SL 615 TGT 660-665.

BAJAJ CORP LTD.. 17713

DURING RECENT PAST THE COUNTER POSTED SWING LOWS AROUND 235 LEVELS AND SHOWED SHARP RECOVERY WHICH IS CLEARLY VISIBLE FROM THE TWO PIN BAR CANDLES ON A DAILY CHART. THE COUNTER IS NOW SUCCESSFULLY HOLDING 250 LEVELS ON A CLOSING BASIS. TODAY IT KISSED THE UPTREND RESISTANCE LINE WITH DECENT VOLUMES. WITH OTHER INDICATORS TOO LOOKING POSITIVE WE EXPECT THAT THE COUNTER IS ON THE VERGE OF COMMENCING ITS SHORT TERM UPTREND, RECOMMEND BUY AT 253.75 WITH CLOSING SL OF 240 TGT 270-275 IN A MEDIUM SHORT TERM.

DABUR INDIA

THE COUNTER FORMED A STRONG BULLISH CANDLE FOLLOWED BY A DOJI ON A DAILY CHART AND CLOSED AROUND ITS RESISTANCE ZONE. DURING RECENT PAST IT POSTED SWING LOW OF 144.65 AND RECOVERED SHARPLY. WITH INDICATORS LOOKING MODERATELY BULLISH THE COUNTER MAY SHOW STRENGTH IN SESSIONS AHEAD. RECOMMEND BUY AROUND 158.5 SL 153 TGT 165-168 IN SHORT TERM. 

MINOR HURDLE AROUND 161.... 

BHEL 12713

THE COUNTER HAD BEEN IN DOWNTREND FOR QUITE A LONG TIME. IT  FORMED A STRONG BASE AROUND 170 LEVELS DURING RECENT PAST AND BOUNCED BACK FROM THE SAID LEVEL. TODAY IT GAVE A FIRM CLOSE AROUND 188 LEVEL. IT SEEMS THE COUNTER IS FORMING INVERSE HEAD AND SHOULDER PATTERN ON A DAILY CHART. WITH TECHNICAL INDICATORS LOOKING POSITIVE POSSIBILITY OF FURTHER UPSIDE IN A SHORT TERM CAN'T BE RULED OUT. RECOMMEND BUY AT 188 FOR THE TGT OF 200-205 WITH CLOSING SL OF 183.

HEROMOTOCO 11713

THE COUNTER FORMED A BASE AROUND 1635 LEVELS AND WITNESSED BOUNCE BACK. TODAY IT KISSED ITS RESISTANCE AREA AROUND 1715 LEVEL AND CLOSED AT 1697. WITH INDICATORS LOOKING POSITIVE THE COUNTER SEEMS TO BE ON THE VERGE OF COMMENCING ITS SHORT TERM UPTREND. RECOMMEND BUY AT 1697 SL 1640 TGT 1770-1790.

DEVELOPMENT CREDIT BANK 10713

DCB IS NOW SUCCESSFULLY CLOSING ABOVE ITS RESISTANCE OF 48.5 AND TRADING ABOVE ITS SHORT TERM AS WELL AS LONG TERM MOVING AVERAGES,. LOOKING AT THE CHART AND VOLUMES WE SENSE SOMETHING IS COOKING IN THE COUNTER. WE WOULD RECOMMEND TO TAKE LIMITED EXPOSURE FOR MEDIUM TERM WITH STRICT SL OF 47 FOR THE TGT OF 56-58.

DIVIS LAB 10713

THE COUNTER AFTER A CONSOLIDATION MOVED OUT OF THE RANGE AND TODAY GAVE A STRONG CLOSE ABOVE 1000 LEVEL. IT IS ALSO TRADING WITH HIGHER THAN AVERAGE VOLUMES FOR THE LAST COUPLE OF SESSIONS. IT SEEMS THE COUNTER IS FORMING SYMMETRICAL TRIANGLE PATTERN ON A DAILY CHART. THE COUNTER STILL HAS AN UNFILLED GAP AROUND 1060 LEVEL. WITH THE MOMENTUM BUILT UP IN THE COUNTER CHANCES ARE HIGHER THAT THE GAP MIGHT GET FILLED. WE HAVE A BULLISH VIEW ON THE COUNTER AND RECOMMEND BUY AT 1007 WITH THE CLOSING SL OF 980 TGT 1060-1070 IN MEDIUM SHORT TERM.

SHRIRAM TRANSPORT 9713

THE COUNTER POSTED SWING LOW OF 634.1 RECENTLY BUT MANAGED TO HOLD ITS SUPPORT AREA AROUND 660 LEVEL. IT CONSOLIDATED AROUND THE SAID SUPPORT AREA OF 665 AND TODAY IT MANAGED TO GIVE A CLOSE ABOVE 710 LEVEL AFTER KISSING ITS RESISTANCE AREA OF 723 LEVEL. WITH INDICATORS LOOKING MODERATELY BULLISH WE ARE OF THE OPINION THAT THE COUNTER MAY SHOW INTRADAY STRENGTH IN NEAR FUTURE. RECOMMEND BUY AT 715 SL 697 TGT 735-740.

ITC 8713

THE COUNTER WITNESSED GAP UP OPENING JUST COUPLE OF SESSIONS AGO AND FORMED A DOJI CANDLESTICK PATTERN. TODAY THE COUNTER FILLED THAT GAP AROUND 338.8 AREA AND MANAGED TO GIVE CLOSE ABOVE THE HIGH OF DOJI i.e. ABOVE 345 LEVEL. WITH OTHER INDICATORS TOO LOOKING QUITE BULLISH WE EXPECT THAT THE COUNTER MAY CONTINUE ITS NORTHWARD JOURNEY IN SESSIONS AHEAD. RECOMMEND BUY AT 346.7 SL 333 TGT 365-368 IN A MEDIUM SHORT TERM.

ASHAPURA MINECHEM LTD. 7713

THE COUNTER HAS FORMED A SYMMETRICAL TRIANGLE PATTERN ON A DAILY CHART AND BREAK OUT IS CLEARLY VISIBLE WITH SURGE IN VOLUMES. WE EXPECT THE COUNTER TO CONTINUE ITS UPTREND IN NEAR FUTURE. RECOMMEND BUY 47.4 SL 41 TGT 58-62 IN MEDIUM SHORT TERM.