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.