Indian Stock Picks >>
Indian Stock Pick - Jaiprakash Associates
India Stock Market Picks and Tips in Indian Shares will carry
a sample of our recommendation from our
newsletter
services. Some of the recommendations will be
educative in nature and will provide you with an insight
to the analysis process that goes into producing our
award winning
newsletter services.
The India Stock Market Picks and Tips in Indian
Shares will help you understand the power of our
analysis and the profitability of our
newsletter
services.
You can register for our
free newsletter service to receive email
notifications as soon as anything new is added to this
page.
Indian Stock Pick - Jaiprakash Associates (Update
on 5th Jan 2005)
After achieving and overshooting our forecasted
target of Rs. 180-185, Jaiprakash Associates is now
consolidating between 185-195. Those of you who followed
our earlier BUY call (on 13th Dec 2004) can now book
profits and wait for this period of
consolidation/sideways correction to complete itself.
Trading Recommendation
One can BUY/ADD Jaiprakash Associates only on a close
above 195.00 with a stoploss at 185.00 for a further
upmove to 220.00 - 230.00
Indian Stock Pick - Jaiprakash Associates (13th
December 2004)
After consolidating for over 2 months, Jaiprakash
Associates has finally broken out (upwards) of its
ascending triangle pattern to trigger a BUY signal.
We recommend a BUY, now or on a pullback to the
160-163 levels for an intermediate target of Rs. 180.00
- 185.00
Indian Stock Pick - Jaiprakash Associates
What is an Ascending Triangle Pattern?
- Ascending triangles are generally considered
bullish and are most reliable when found in an
uptrend. The top part of the triangle appears flat,
while the bottom part of the triangle has an upward
slant.
- In ascending triangles, the market becomes
overbought and prices are turned back. Buying then
re-enters the market and prices soon reach their old
highs, where they are once again turned back. Buying
then resurfaces, although at a higher level than
before.
- Prices eventually break through the old highs
and are propelled even higher as new buying comes
in.
- The breakout is generally accompanied by a
marked increase in volume.
|
