17TH JULY 2013

DAILY CHARTIST VIEW

HIGHLIGHTS
A

Highlights

Nifty traded LOWER and ended in RED on TUESDAY Nifty Future 52.95 points DOWN at 5979.05 Buy GAIL INDIA above 325 targets 327.50/330.50 sl 322.50 Buy ITC above 362 targets 364.50/367.50 sl 359.50

Past Performance:

ITC HIT 1ST & 2ND TGTS GAIL INDIA ALMOST HIT 1ST TGT TCS HIT 1ST & 2ND TGTS YES BANK HIT 1ST TGT AURO PHARMA HIT BOTH TGT AXIS BANK HIT BOTH TGT GAIL INDIA HIT BOTH TGT COAL INDIA HIT 1ST TGT CENTURI TEXTILE HIT 1ST TGT and almost HIT 2ND TGT CESC HIT 1ST TGT ADANI PORTS HIT BOTH TGTS

GAIL INDIA
BUY ABOVE 325 TARGETS 327.50/330.50 SL 322.50

BUY ABOVE 250 FOR TARGETS OF 265/285 SL 235

The chart shown is DAILY. The stock decline after appears Bearish Engulfing pattern near 200 day EMA. After short decline Inverted Hammer appears near 20day EMA and stock again traded upward. The horizontal line show the resistance line near 325. Before closing, stock shows some strength on 15-min chart. Last long Green candle penetrate the resistance but does not close above it. But stock show good strength. Therefore, buying is again expected.

ITC
BUY ABOVE 362 TARGETS 364.50/367.50 SL 359.50

The chart shown is DAILY. The horizontal line shows the Resistance for stock. The first peak make a high of 354.95 and 2nd peak 355.90, but does not sustain at high and close at 354.30. Last long Green candle close above resistance with higher volume. Buy stock above given level or near to resistance, if any correction takes place.

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