This is definitely encouraging. Remember, this is a very aggressive trade and we are assuming that we are entering at the start of the bull run. Good part is that the stop loss of 248 was not hit and the volumes also increased. We shall maintain the same stop loss and see how the traders are trading.
Monday, June 17, 2013
0002BHEL17June2013 – A good session
As predicted in the last analysis, the scrip has started its journey upwards. The volumes were encouraging but should be taken with a pinch of salt since today was also the RBI’s policy review. We can expect the BHEL to travel slowly now and reach the first target of 188-190 before this week concludes. We can also now comfortably take the stop loss up to 175.
Saturday, June 15, 2013
0001BHEL16June2013 – Bet on it!
After a hiatus from tech analysis due to my job, I have come back with a bang. And this stock brings promises of a 30 point gain. Right now, the stock is trading at a 4 month low of mid 170s. First target of 188-190 and second target of 197-200 will be a good bet. Since, these are the levels that the stock has skirted just twice in 4 months we need to keep a tight stoploss of 170.
0001IOCL16Jun2013 – Bull expected?!
This stock has been trading at levels which were dominant majorly last year. From the start of this year it had been very bullish till last month from where the stock is just searching for the bottom of the bearish run. This is a bit aggressive buy since we yet don’t have an established bull run. Yes, we do have a well established bear trend that is evident on the charts.
Having said that, if we enter the stock 255, then we can expect the stock to run towards 290-295 and then further to 305-310. Keep a stoploss of 248 though. Like I always say, DO NOT forget the stoploss, especially when we are entering at the plausible bottom of a bearish trend.
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