We had a superb breakout yesterday. All of a sudden there is good news everywhere. We have very good global cues, crude is also cooling off. Technically, we broke out from the longterm down trendline. The next major resistance is the 200 DMA near 4800. Whether we will break this is something too early to predict. For now, ride with the trend, stay long and target 200 DMA. For people without charts and moving average information, I found this site, which gives moving average information for various stocks an indices.
http://stockmarketmessages.com/dma/dmaindex.htm
Stock Picks
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Bank of India (BOI)- CMP-307.75 Stock has nicely broken down yesterday and closed high. We can see good upside of upto 330+ in the coming days. This is a positional long.
Adlabs - CMP 537.5. BUY above 539. Target 553, 582
Wednesday, August 6, 2008
Nice breakout on charts...Aug 06, 2008
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