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Friday, April 17, 2009

Sokhi Sure Shot Calls for 17th April !!


REL CAP (BUY) 524-526 (Target1) 532 (Target2) 538 (Sl) 516

SUZLON (SELL) 59.5-61 (Target1) 58 (Target2) 56 (Sl) 62.5

MRPL (Rs 49.05) Sell : We recommend a sell in Mangalore Refinery and Petrochemicals (MRPL) from a short-term trading perspective. It is clearly apparent from the charts of MRPL that after taking support at Rs 36 in early March, the stock began to trend up. The stock conclusively broke through a key resistance level at Rs 44, accompanied with heavy volume on April 6. However, the stock’s uptrend encountered resistance around Rs 57 recently. Subsequently, the stock reversed direction.

We are bearish on the stock from a short-term trading horizon. We expect it to decline further until it hits our price target of Rs 44 in the upcoming trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 51 level.

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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.