Technical Calls:JP Associate and OBC

By | May 10, 2011 6:09 pm

Jai Prakash Associate

JP Associate has corrected from High of 102 to low of Rs 84 as shown in the below charts.

Stock is trading in a tight range from past 5 trading sessions and range breakout will give a move of atleast 2-3% in a single session.

Break of Rs84 will give a quick move till 81 and a move above should give a move till 91

RSI and Stoch are in oversold region so a bounce back shall be offing but move above 87 is must for that

Buy above 87 Tgt 89,91.3 and 92.1

Sell Below 84 Tgt 82.5,81.1 and 80.2



Oriental Bank of Commerce

OBC is respecting its trendline forming a ascending triangle formation with facing resistance at upper end of trendline.


Break of High@338 with volumes will give a bullish bias for the stock.

Stochastic is generating a BUY singanl

Buy above 338 Tgt 342,346 and 348



2 thoughts on “Technical Calls:JP Associate and OBC

  1. Arun Joseph


    You can check 30 min charts of JP Associates where it has formed Ascending Triangle. This will bring more light whether to buy or sell depending upon market conditions.

    1. Bramesh Post author

      Hi Arun Sir,

      I took daily chart into consideration to come up with my analysis. On 30 Mins the scenario you have mentioned perfectly exsists.



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