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Stock picks for the week
Thursday, May 3, 2007
SBI: FIRST BEARISH CANDLE OBSERVED IN INTRADAY CHARTS.USE DIPS TILL 1049 TO BUY.BEST BUY IS AROUND 1060 WITH A SL OF 1048 AND BEST SELL IS AT 1130 LEVELS WITH A SL AT 1145 LEVELS.THINGS TO WATCH IS THE INFLATION DATA.
INFOSYS TECHNOLOGIES:TRADERS CAN USE 1990 1985 LEVELS TO BUY AS WE EXPECT TO DOLLAR TO SHOW A DEAD CAT BOUNCE.THE STOP LOSS FOR THE ABOVE TRADE WILL BE AROUND 1945.BWLOW1945 IT WILL TOUCH ITS RECENT LOWS OF 1910.
TANLA: LAST RESISTANCE AT 454 LEVELS ABOVE THAT UNCHARTED TERRITORY.
RELIANCE CAPITAL: LAST SUPPORT AT 701 LEVELS BELOW THAT 670 IN DAYS.
BAJAJ AUTO : HUGE SUPPORTS AT 2420 2430 LEVELS .TRADERS CAN USE EVERY DIP TO ADD POSITIONS IN THE STOCK.
GRASIM: INTERMEDIATE UPTREND OVER .SHOULD CONSOILDATE AND MOVE TOWARDS 2200 ZONE IN COMING DAYS.
GTL: USE EVERY DIP TILL 172 ZONE TO BUY WITH A SL FOR A TARGET OF 200+ IN COMING DAYS.
RELIANCE : SHOULD TEST 1500 LEVELS IN COMING DAYS. TRADERS CAN ADD AT THAT POINT OF TIME.
GHCL: SHOULD MOVE TO 100 LEVELS IN COMING DAYS.
ACC: UPTREND OVER WILL CONSOLIDATE AROUND 800 LEVELS IN COMING DAYS.
AREVA T&D.: BUY ON ALL DIPS WITH A SL FOR A TARGET OF 1450+ IN COMING DAYS.
IFCI: WILL TRY AND REACH 43 LEVELS IN COMING DAYS.
IDBI: INTERMEDIATE UPTREND OVER KEEP A SL AT 81 FOR ALL LONGS.
GDL; BUY WITH A SL AT 167 FOR A TECHNICAL TARGET OF 190+ IN COMING DAYS.