Momentum stocks technical analysis: Unitech,KTK Bank,Sun Pharma

By | February 13, 2013 7:30 am

Sun Pharma

Sun PharmaSun Pharma has been rising, once the company decided not to buy TARO. Stock has ben respecting its long term trendline rising steadily.Sun Pharma is forming an Inverse Head and Shoulder pattern with neckline at 776. Pattern gets active above 776 only and target comes around 850.

Buy above 776 Tgt 782,791 and 809 Sl 771

Sell below 763 Tgt 754,746 and 740 SL 771


KTK Bank


KTK Bank has formed a Bullish engulfing pattern, KTK took support at its breakout level of 141 bounced back sharply. Stochastic also moved in buy zone.

Buy above 161.5 Tgt 164.5,166.6 and 168 SL 158




Unitech fell down heavily on fresh accusation of 2G Scam,Technically stock took support at its 200 DMA@26.3 and recovery almost 10% from that level. Stock traded on life high volumes of .17 Billion. Till it holds 26.3 stock can see some recovery back till 31.5 which is again a trendline resistance. Below 26.3 level of 23,18 will be seen in short term.

Buy above 29.4  Tgt 29.8,30.3 and 31.4 Sl 29

Sell below 28.3 Tgt 27.2,26.3 and 25.2 Sl 28.8

Traders have high risk appetite with trading capital above 5 Lakhs should trade in Unitech


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