Postive/Negative breakouts from 14-10-09

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Postive/Negative breakouts from 14-10-09

This article was posted on Oct 14, 2009 and is filed under Market News

Postive breakouts from last days trade:

Stocks above their 14dma, 25dma, 50dma, conversion (9days), base (26days).
Cairn India @ 280 – Support at 270
Essar Oil @ 161 – Support at 156
GVK Power @ 47.2 – Support at 45
Ador Welding @ 162.20 – Support at 155
Bajaj Hindustan @ 202.75 – Support at 193
JM Financial @ 48.05 – Support at 46

Stocks below their 14dma, 25dma, 50dma, conversion (9days), base (26days).
IFCI @ 53.85 – Resistance at 54.50

Postive breakouts are likely to do well if markets remain positive. On ther other hand list of negative breakouts are likely to see some more downside if markets remain flat/weak. If anyone intends to trade in these, buy positive breakouts with strict stoploss at support levels. For negative breakouts sell on any rise with stoploss at their resistance levels.

If anyone already is holding any of these stocks, please trade accordingly..

Tags: ador welding, bajaj Hindustan, bse, cairn, essar oil, GVK power, IFCI, jm financial, nse, Technical Analysis, technical breakouts

Note: The Credit of this post goes to the original witters of this post and not to NSEGUIDE

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