Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php on line 122

Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php on line 139

Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php:122) in /home/stockmarketindia/stockmarketindia/wp-content/plugins/chap-secure-login/chapsecurelogin.php on line 30

Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php:122) in /home/stockmarketindia/stockmarketindia/wp-content/plugins/chap-secure-login/chapsecurelogin.php on line 30
Short Term Buy Call – Fedders Lloyd Corporation
Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/output.php on line 26

For *Everyday* Free updates on Buy Calls, Stock Splits, Bonus, Rights Issues & IPO:

  



Short Term Buy Call – Fedders Lloyd Corporation



We recommend a buy in the stock of Fedders Lloyd Corporation from a short-term perspective. It is apparent from the charts of the stock that it has been on an intermediate-term downtrend since it encountered resistance at around Rs 114 in October 2010.

However, the stock found support around Rs 70 which is a significant long-term base level in May and started to consolidate sideways. It formed a falling wedge pattern spanning over last two months which is a bullish reversal pattern in this scenario.

The stock again took support at Rs 70 recently and changed its direction triggered by a positive divergence in daily moving average convergence divergence indicator. On Monday, the stock broke out the falling wedge pattern by surging more than six per cent. There is an increase in volumes over the past two trading sessions. The stock is hovering well above its 21- and 50-day moving averages.

Daily relative strength index has entered in to the bullish zone and weekly RSI is heading towards this zone in the neutral region. Price rate of change indicators have entered into the positive territory signalling buying interest.

We are bullish on the stock from a short-term perspective. We expect it to move higher and touch our price target of Rs 80 or Rs 82.5 in the in the days ahead. Short-term traders can buy the stock with stop-loss at Rs 75 levels.

*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*




If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

No comments yet.

Leave a comment

(required)

(required)