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Wednesday, January 14, 2009

Sokhi Sure Shot Calls for 14th Jan !


RELIANCE CAPITAL (SELL) 424-428 (Target1)414 (Target2) 400(Sl) 434

BOMBAY RAYON (SELL) 105-108 (Target1)100 (Target2) 92(Sl) 111

ICSA (INDIA) (BUY) BUY IN EVERY FALL (SHORT TERM TARGET)150 (MEDIUM TARGET) 225(Sl) 50

Cairn India (Rs 152.95) Sell : We recommend a sell in Cairn India stock from short-term trading perspective. It is clearly visible from the charts of Cairn India that it has been on a long-term downtrend from its May 2008 high of Rs 342 (its 52-week high).

Recently, the counter began to decline, resuming its long-term downtrend. On January 13, the stock tumbled by 7 per cent decisively penetrating its corrective medium-term up trendline. The daily relative strength index is falling in the neutral region towards the bearish zone. Moreover, the daily moving average convergence and divergence is signalling a sell.

Our short-term forecast for the stock is bearish. We expect the stock to decline further until it hits our price target of Rs 137. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 161.

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DISCLAIMER

All the advises,calls,tips and predictions are neither an offer nor a solicitation to purchase or sell securities.The information and views given by writer is believed to be reliable but no responsibility (liability) is accepted for error of facts and opinion.Writer may be trading in or having positions in stock markets.