Wednesday, June 8, 2011
Tata Moters Positional call for 8 months target 1985
TATA MOTERS is forming a Bull Flag pattern Formation, where its at the lower end of the channel. it has completed the D wave and is showing a sign of entering in wave E and its expected to give a breakout above 1280 confirmation of the uptrend to continue. Stochastic are also trading in over sold zone and is giving a positive intersection where some bounce is expected. immediate resistance at 1130 and 1280, once both the resistance is crossed sharp upsdei move can be expected.
Difference of the Pole which started from 670 testing the level of 1375 and on crossover of 1280 will confirm the higher target.
BHEL bottom out @ 1900
Bhel is showing sign of bottom out at 1880 to 1900 level, in market 2011 also it rebounded from 1900 and prior in 2009 June July also it has made double bottom at 1900.
this indicates sharp upside rally is expected.
on higher side immediately target comes to 2000 to 2200, and sustain above 2200 will move to test 2500 in near term. CMP is 1930 can start accumulating.
Chart attached
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