Technical Analysis:KS Oils,Exide Industries and Essar Oil

By | October 5, 2010 8:49 pm

KS Oils

KS Oils has given a bullish breakout today moving above its 50 DMA@52 with volumes and which has been eluding its for quiet a few trading sessions. KS oils now faces a resistance at 100 DMA @ 54.3 which if crossed will propel stock to its 200 DMA@62 in few trading seesions

As can be seen on charts trading KS oils with patience and with levels metioned can reward for a move of 10-15% moves in short term

Buy above 54.3 Tgt 55.35,57 and 62

EXIDE Industries

Exide is forming a ascending triangle formation on daily charts with expansion of volumes.

RSI is showing positive divergence and MACD is neutral zone

Buy above 170.6 Tgt 172.65 and 177.65

Essar Oil

Essar Oil has given a bullish move with volumes breaking above its 200 DMA and the way mometum is coming in stocks we can see some crazy move aheadd of rs 146 where multiple resistance lies for the stock.

Buy above 146 Tgt 149,153.6 and 161.6

Leave a Reply