Sep 282010

P....... Daily Charts

This engineering company has formed a constructive price pattern at its current level of Rs386. After a bullish price reversal at the september lows, this stock formed a rising window pattern. In yesterday's price action the stock successfully tested this support level and the stock got bid up. The larger price structure provides a price objective of  Rs440-460 over the next 1-4 weeks. If your risk appetite is low, your stop loss should be below the rising window, else place a stop below Rs360.

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