WIPRO
Wipro weekly charts is trading in arange of 374 and 440 on weekly charts.As such it has done nothing in 2010.Looking at the way infy is shooting up looks like lots of catch up needs to be done by WIPRO.
For any further up move WIPRO needs to break the trading range.Looking at Volumes on weekly charts and Positive divergence in MACD wipro looks like to breakout.
Buy above 451 Tgt 458,470 and 491
Financial Technology
FT is breaking on emotional selling on SEBI rejected its plea for trading.Stock has been hammered and came down 12% in a day.Well in normal circumstances we need to see if stock has formed the panic bottom which i think FT will make now around 1188.Its a fundamentally very good stock and should be bought on dips for a 1-2 year perspective
High Risk Traders are advised to take position at that levels and add more above 1250 levels
Tgt in short term are 1330 and 1400 levels
BF Utility
BF Utility I have been personaaly very much bullish on this stock looking at its growth story in coming years and the volatilty its is having it is a Traders paradise stocks.
Looking at weekly and drawing trendline can decide its move ahead.
On Daily Charts it has shown a breakout above 1071 and rallied till 1115 in 2 days.
For extremly short term perpective its a buy above 1137 as there weekly breakout will come for a 5-10% move.
MACD and RSI are suggesting Buy.
Buy above 1137 Tgt 1158,1207 and 1256
Nagararjuna Construction
Nagar Construction is on verge of Breakout above its 200 DMA 169.
Buy above 169 Tgt 174,179 and 188
Well 200 DMA strategy looks damm simple and traders seeing its simplicity tends to ignore it but I strongly recommend all traders to be at basics to make money. Do not make your trading complicated when simple tools are there for you to make money 🙂
Hey nice picks …….. 🙂