Breakout Watch
Vysya Bank
This was moving sideways between 140 to 150 from April after a steep drop from 210. It jumped to 171 in three session with increasing volumes. Puling back in the last two session with decreasing volume. Wait for the resolution phase..when the stock starts moving up again on increasing volume. Stiff resistance exists at 175.
NIIT.
On the pullback nowBelow the support level of 325.wait and watch..
HMT
On the Pullback (Reaction Phase). Still Above the support level of 95. wait for the resolution phase..
Crompton Greaves
Fell back to 116 .Today recovered to 625. Volume support is lacking.. TRIX has turned around downwards. MACD just crossed below the single line. 3 day MA crossed below the 13 day MA. This may move sideways in the short term. In my opinion the stock has to takeout 650 with good volume
MRO-Tek
Continuing to move up with increasing volume. A pull back would offer good entry opportunity.
IGL
Looks like a classical breakout. Pulled back to 123 on decreased volume. Has entered resolution phase, Today jumped to 129 with increased volume. Time to enter I suppose.
This is just to throw more light on the current breakouts..not BUY recommendations
regards
karthik
Vysya Bank
This was moving sideways between 140 to 150 from April after a steep drop from 210. It jumped to 171 in three session with increasing volumes. Puling back in the last two session with decreasing volume. Wait for the resolution phase..when the stock starts moving up again on increasing volume. Stiff resistance exists at 175.
NIIT.
On the pullback nowBelow the support level of 325.wait and watch..
HMT
On the Pullback (Reaction Phase). Still Above the support level of 95. wait for the resolution phase..
Crompton Greaves
Fell back to 116 .Today recovered to 625. Volume support is lacking.. TRIX has turned around downwards. MACD just crossed below the single line. 3 day MA crossed below the 13 day MA. This may move sideways in the short term. In my opinion the stock has to takeout 650 with good volume
MRO-Tek
Continuing to move up with increasing volume. A pull back would offer good entry opportunity.
IGL
Looks like a classical breakout. Pulled back to 123 on decreased volume. Has entered resolution phase, Today jumped to 129 with increased volume. Time to enter I suppose.
This is just to throw more light on the current breakouts..not BUY recommendations
regards
karthik