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Monday, 14 October 2013

Which stocks to buy now ?

As you would have already noted in other posts, we are long in Tata Steel , Maruti and TCS ( entered during market hours above 2100). Adding two more stocks for positional trading.

1. ICICI Bank

Weekly Charts - RSI bounced back from oversold levels. Stock closed above 21 week moving average with rise in volume. MACD crossover indicating buy. 
Daily Charts - Closed above 21 DMA. Upmove on increasing volume. MACD positive cross over, RSI bouncing from support. 
Buy above 1005  for targets of 1040-60, with SL at 945.
2. Larsen & Tubro (L&T)
Weekly Charts- Stock closed above 21 Moving average. MACD positive crossover. uptick in volume.  
Daily Charts - Moving average 10 above 21. RSI bounce from support, MACD positive cross over, Stochastics buy and uptick in volume.
Buy only above 900 for a target of 920-40-60 with SL at 859. 



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