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27 November, 2014 14:48 IST
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Four short to mid-term technical picks
Source: IRIS | 20 Nov, 2012, 11.53AM
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Following technical calls have been recommended from short to medium term perspective by analysts at leading broking firms:

IDBI Capital

1. Idea Cellular - (Duration 4-5 weeks)

'Sell' the stock below Rs 94.10 for a target of Rs 86 with a strict stop loss placed above Rs 97.90

Yesterday, Idea Cellular has formed a Shooting Star Candle on the daily charts. The rally has exhausted in the overbought territory. On the oscillator's front; RSI & Stochastic are placed with a negative divergence on the hourly charts.

2. ITC (Duration 4-5 weeks)

'Buy' the stock at CMP and dips to Rs 276 for a target of Rs 305 with a strict stop loss placed below Rs 273.

Yesterday, ITC has formed an Engulfing Bullish Candle on the daily charts. However, the stock has witnessed a strong support near its previous resistance. On the oscillator's front; RSI & Stochastic are placed with positive crossover on the hourly charts.

Shilpa Stock Broker (SSBPL)

3. VIP Industries - (Duration 1 week)

'Buy' up to Rs 79 for target of Rs 85 with stop loss of Rs 76.50.

After flat opening stock has witnessed buying throughout the day and finally ended with "Long White Candle" a bullish candlestick pattern with strong volume on daily chart. 14 days RSI has also given positive cut to signal line and settled above equilibrium point.

RK Global Shares & Securities

4. Housing Development & Infrastructure (HDIL)-( Duration 2-3 days)

'Buy' above Rs 105 for a target of Rs 109 with a strict stop loss placed (on daily closing basis) Rs 103.

''The stock rebounded from its very short-term trend line support where its 30DEMA exists. It ended with a white body candle and closed at almost highest point of the day. It is in up-trend and trend following indicators MACD is still above zero line while RSI is trying to improve along with price. So, we recommend a cautious Buy in the script above Rs 105 for the immediate target of Rs 109.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


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