Saturday, October 23, 2010

BREAK OUT STOCK: ESSAROIL

Essar Oil has given a break out from cup & holder formation on daily charts. Possible TGT is 173. one can buy here with SL below 142.

Also on weekly charts it has given a decent break out with good volumes one can hold the position with a deeper SL below 136 for possible higher targets.

Nifty is quite volatile these days, one should avoid short positions in nifty for the time being.

Happy Trading !
RainMaker

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