Essar Oil,Karuturi Global,Rolta and Tata Steel Technical Analysis

By | June 13, 2010 11:22 am


Essar Oil has formed a Pennant Formation on daily charts and formed 2 Doji with less volumes also.

MACD and RSI are also in Buying Mode but Essar Needs to cross and sustain the Trend line resistance at 128 levels for its next upmove.

Buy Above 128 Tgt 130 135 and 139 Sl 123.50

Karturi Global

Karturi is/has been in downtrend from past many trading sessions.Last Thursday there was a huge uptick in volumes as mentioned in charts and a Doji formation,Indicator Both MACD and RSI are in oversold zone.

Buy above 13.15 TGt  13.8 14.85 and 15.6


ROLTA is forming a falling wedge formation on daily charts which is having a bullish implication.Volumes were quiet high on friday.MACD is crossing the signal line so it is coming in Buy mode and RSI is also giving buy signal.ROLTA can easily retrace back to 176 levels where its 200 SMA lies

Buy above 165 Tgt  168.4 170.25 and 176


TATA STEEL Weekly charts have given a  OOPS BUY (Read More)

  1. Sustained Downtrend
  2. Hammer formation on weekly charts

Buy above 479 TGt 485 492 and 511

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