Technical Analysis of Indian Equities by Nooresh

Cairn India – Contracting in a Triangle. Biocon breakout

Few days back had put up this chart on Biocon . The stock has moved well from 315 to 350 with a spurt today on good announcement. Now time to book some and trail stoploss.

 

Cairn India is forming a triangle with breakout points at 315 and 280. Although there could be quite some time before we see a clear breakout on it but worth keeping a tab on this stock as pattern suggests sooner or later the stock will get out of the contraction.

 

Cairn

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www.analyseindia.com

Article by Nooresh Merani

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{ 2 comments… add one }
  • Saif August 13, 2013, 11:28

    Nooresh how does bgr energy look for long term at current level?

    Reply
    • Nooresh August 16, 2013, 17:06

      BGR energy is a bit risky and i dont track it very closely

      Reply

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