In CNBC-TV18's popular show Bull's Eye, Rakesh Gandhi, independent technical analyst shares his trading strategies for the day.
Bata India once again exhibiting an upward momentum and is indicating to breakout from a range bound kind of trend of last four months. Hence a buy call for a day target of Rs 1124 with a stoploss of Rs 1075.
Godrej Industries is forming a seven month consolidation pattern of symmetrical triangle and is indicating a breakout from this pattern. Hence a short-term buy call for a target of Rs 308 and a stoploss of Rs 290.
After a span of four months Sintex Industries is breaking out from a consolidation pattern and is indicating that it could rise for more than 15-20 percent from current levels in next 8-10 weeks. Hence a short-term buy call for a day target of Rs 41.90 and a stoploss of Rs 36.90.
Ashapura Minechem has seen a very sharp rally in the month of November and after that it has remained in a sideways kind of move. Once again the volumes have picked up and stock is indicating that it could rise in coming days. Hence a short-term buy call for a day target of Rs 66.90 and a stoploss of Rs 58.75.
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