1/06/2011...........1:40 pm
Hello Everyone,
Since last one month plus Bombay Dyeing was in falling mode. Stock was falling from 415 levels. Stock made a bottom formation at 330. With some consolidation, now the stock has started moving up.
Since last three days stock is making White Candle. Volumes too are supportive. On Technical Charts it looks something like "Saucer Formation".
With start of "saucer formation" one should definitely Accumulate the stock.
So my strong advise would be to Buy Bombay Dyeing in two tranches. First at CMP of 369 and second at 350's if available.
One can expect a Price Target of 393 plus in coming days.
Happy Investing, Safe Trading
Kishore
Hello Everyone,
Since last one month plus Bombay Dyeing was in falling mode. Stock was falling from 415 levels. Stock made a bottom formation at 330. With some consolidation, now the stock has started moving up.
Since last three days stock is making White Candle. Volumes too are supportive. On Technical Charts it looks something like "Saucer Formation".
With start of "saucer formation" one should definitely Accumulate the stock.
So my strong advise would be to Buy Bombay Dyeing in two tranches. First at CMP of 369 and second at 350's if available.
One can expect a Price Target of 393 plus in coming days.
Happy Investing, Safe Trading
Kishore
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