Technical Analysis:Ashok Leyland,Coal India,IRB and DCB

By | April 18, 2012 7:22 am

Traders come to the markets with great expectations, but few make profits and most wash out. A successful trader must hop over several high hurdles—and keep hopping. Being better than average is not good enough—you have to be head and shoulders above the crowd. You can win only if you have both knowledge and discipline.

Ashok Leyland


Ashok Leyland has taken support at its trendline and shown a bounce back with good increase in volume.

Buy above 29.6 Tgt 29.85,30.15 and 31



IRB is showing a breakout out of pennant formation coupled with volumes. Stocks looks set to continue its rally today and reach near the swing high of 210

Buy above 201 Tgt 203,207.3 and 210



DCB has been on volume list from past 1 week,Results were a good set of numbers coupled with RBI cutting rate by 50 BPS can help in breaking the stock its resistance line of 51. Ascending triangle formation which gives target of 59 in short term.

Buy above 50.3 Tgt 51.2,51.9 and 53



Coal India

Coal India has shown a classic breakout pattern after long period of consolidation.


Buy above 354 Tgt 358,363 and 370

Sell below 347 Tgt 344,339 and 335

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