Date: 4 December 2010
GUAR SEED TECHNICAL OUTLOOK
TECHNICAL OVERVIEW:
GUAR SEED TECHNICAL OUTLOOK
TECHNICAL OVERVIEW:
Looking at the daily chart the counter has given short-term continuation bullish flag break above resistance of 2480 signals that the previous advance has resumed. We expect bull trend to follow in Guar Seed in the near term.GUAR SEED DAILY CHART
Observations:
• After a 09 days consolidation in a sideways to down flag formation (small rectangle pattern that slopes against the previous trend), Guar Seed breached the resistance of 2500 and gave a strong daily closing above 2510 levels.
• A doji candle on 02 Dec 2010 has given the third point of trend line, which is confirmed the Long Term up TREND.
• The RSI is trading above 65 and has potential to move up further. Fast Stochastic Oscillator too has given a positive cross over which is likely to support the upside momentum.
• Last but not the least; Directional Index too has given positive cross over in +DI and -DI, indicating the positive momentum in the prices.
POSITIONAL BUY CALL: BUY GUAR SEED NCDEX DEC 2470-2500 ZONE FOR THE TARGET 1ST 2700 AND TARGET 2ND 2800 WITH SL OF 2350,CMP 2505
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Report By: Pradeep Karnani
Research Analyst Mobile: 09966028055
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Report By: Pradeep Karnani
Research Analyst Mobile: 09966028055
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FOR PRIVATE CIRCULATION ONLY
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.
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TEL: 040-40271150, 9966028055 EMAIL info@trueinfotec.in http://www.trueinfotec.in/
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