Saturday, September 18, 2010
TECHNICAL VIEW ON PSU BANkIng STOCKS
UCOBANK-- One can buy this@ 115 with stop of 113 at its 20day moving avg. As it may breakout above 120 for tgt of 125-130 in this week. RSI(14) below 70, trying to move in overbought zone and wil stay over there for few days which will lead it to 135. Clear uptrend. INDUSINDBK-- Dont buy at this level but if anybody already having position in this , may hold this for some more upside. Definately a good buy at dips. Rsi in overbought zone. IOB-- A risky buy at current levels not too good on charts, hold with a stop of 126 on medium term basis for some more gains in coming days. CENTRALBK-- A risky buy at current levels but stil upside is left to tgt of 213-215 on charts. RSI ENTERED in overbought zone. DENABANK-- Clear uptrend on weekly charts, one can buy @ current levels with stop of 100 on weekly closing basis for tgt above 122-125. ALBK-- Its a must buy on dips, not at current levels, let it come down to220 and then initiate position. It has a strong medium term support at 210
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