Market Outlook 17 March 2010 and Calls

|

Nifty (5198)
Yesterday buying was seen in the later part of the day and finally nifty has broken eight days consolidation zone and formed “Long White Candle” a bullish candlestick pattern. Daily momentum indicators are on the verge of overbought zone. Now strong support placed at 5070 level as long as Nifty is trading above this level buy on dips strategy works well.







IVRCL (335)
Stock has formed “Long White candle” a bullish candlestick pattern with strong volume breakout on daily chart. 3 days EMA has given positive cut to 8 days EMA, Daily RSI featuring in bullish zone and ADX placed at 32 which suggests up move is likely to continue. Looking at all above technical parameters trader with moderate risk appetite can consider Buy above Rs.338 with tight Stop Loss of Rs.331 for a Target of Rs.351.





Polaris (166.55)
Stock has formed “Three Outside Up” bullish candlestick pattern with strong volume breakout on daily chart and broken previous swing high. Daily RSI is featuring in bullish zone, +DI line has given positive cut to –DI and ADX line, suggest up move is likely to continue in stock. Looking at all above technical parameters trader with moderate risk appetite can consider Buy above Rs.167 with tight Stop Loss of Rs.163 for a Target of Rs.174

0 comments:

Post a Comment