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Mar 07, 2012, 12.22 PM IST
According to IIFL, traders can short on HDIL March Futures below Rs 101 with stop loss of Rs 104.50 for target of Rs 94, in its March 7, 2012 research report.
According to IIFL, traders can short on HDIL March Futures below Rs 101 with stop loss of Rs 104.50 for target of Rs 94, in its March 7, 2012 research report.
“HDIL has recently signaled trend reversal below Rs107 which was its 200-DMA and with broader pattern indicating near breakdown from rising wedge, stock could be heading below Rs95 in the near term. Inability of stock to conquer ground above its 200-DMA reinforces negative trend in the counter. The daily RSI too has retreated from short term overbought zone and has good cushion to decline, before entering into oversold terrain. We recommend going short on HDIL March Futures below Rs101 with stop loss of Rs104.50 for Target of Rs94 (Duration 5 days),” says IIFL research report. FIIs holding more than 30% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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