Banking on Banks

Bank of India is providing a good trading opportunity.

Two inverted hammer occured at 350 level forming a strong support wehreas doji appeared thrice in 385-393 range making it a strong resistence. Banks are still strong.




Its not the end. Here comes another. Now its BOB aka Bank of Baroda. Lots of shaven bottom. Amazing.

and surprisngly its movement is closely aligned with 20SMA. Strong uptrend. Notice MACD and Stoch.

Dont you think its a good buy. Go get it man.

Wipro wiped twice

Stock is falling since 18/03/2010 and volatility escalated with fall. Inspite of that people hasnt give it up. That is apparant from intact volume range.

Stock seeing strong support at 380 and this support is tested twice. The fall halted with dragonfly Doji. Obvious sign of reversal but it ddnt last long and two thirst of uptrend stopped at important level of 38.2 and 61.8. Yea, Fibonacchi works.

Stock is about to test the support third time and you can go short. Take profit of 10.
(This recommendation is solely for future)

Pick of the day

Two futures from entirely different sectors can fetch good fortune tomorrow. Go long on Ranbaxy June and short on Rolta June future.

(charts are not uploaded due to some technical errors)

Still you can take position as well. Rabaxy is a good buy at current level. Keep it for a week. You can reap Rs 20. So the target is 480

Short on Rolta at 165. Target 160

Happy trading.

(u will see the charts tomorrow)