There could be two ways a technical analyst will look at this chart.
-> A head and shoulders with neckline at 760.
-> Major bottoms at 760 band for last 1 year.
Ways to trade it
Buy at 775-790 stoploss of 755-760 with upside target of 850 or higher.
Reverse trade if breaks below 755 short with a small stoploss.
Given the fact the stock has made a huge base between 700-750 before the risk reward is favorable for bottom buying.
Disclosure : Will be waiting for follow up action to buy above 800.
www.analyseindia.com ( For all our services )
Twitter – https://twitter.com/nooreshtech
Facebook – https://www.facebook.com/nooreshtech
June 5, 2013
whats your view on abm knowledge , nitco , ashapura and britannia ??