Trading Calls of the week – 22 March 09

1) ABB : Chart structure is improving. The scrip faces short term resistance around 378-379. On bullish crossover the scrip could reach 410-415 in the short term.

2) ABGSHIP : On verge of a bullish breakout above 80. Short term support is around 72, 66. Buying is advised above 80 for short term target of 90, 94. Maintain a stop loss below 75 on daily closing basis.

3) ABIRLANUVO : Volumes have increased with positive price movement. Keep a close watch on this counter as volume and price movement indicates something cooking in this counter. Buying is advised at current market price and on declines for short term target of 455 in the short term.

4) BHARATFORG : Consolidating for last 3-4 months. Since December ’08 the scrip has had a trading range of 75-95. Hence buying is advised only when a close above this upper band of the trading range is achieved.

5) BRFL : On verge of a powerful bullish breakout. Buying is advised above 138 keeping a stop loss below 128 on daily closing basis for short term target of 160.

6) CENTURY TEX : Could see positive price action in a stable market. Buying is advised at current market price and on declines up to 170-172 for short term target of 230+. Maintain a stop loss below 167 on daily closing basis. The scrip is likely to gain momentum once it closes above 200.

7) GMR INFRA : Heading towards 105+ in the short term. The scrip is likely to gain momentum once it crosses 88. Buying is advised at current market price and on declines for short term target of 105+.

Guj. NRE Coke : Bullish breakout with strong volumes. Buying advised at current market price and on declines for short term target of 25. Maintain a stop loss below 17 on daily closing basis.

9) J. P. Associates : Heading towards 90+ in the short term. Buying is advised at current market price and on declines for short term target of 90, 95.

10.) Patel Engg. : Facing strong resistance around 126. Above 126 this counter could move to 140 level in the short term.