Technical view by Nooresh

Few charts … Take your call ..


The stock was earlier covered at 185 for a small trade to 200. Right now the stock seems to have finally gathered strength to cross beyond the huge resistance of 212-216 or after a dip may possibly go above those levels.
Investors can look to buy on dips for a tgt of 240 over the medium term. This defensive may go the same way as HUL, Dabur , Colgate ( all covered earlier )
Essar Oil :
The stock gave a false move around 190 and stopped us out some time back. The stock has since been cracking in a downchannel. 61% correction comes to around 110 odd. Downchannel support around 120. Expect to see some supports in this range 120/108. Bounce could come up to 135/145 levels also. Investors/traders can accordingly position themselves.
Watch for volume support in Century textiles.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2532 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment