8/3/2019 Daily Morning Update 20 Oct 2011
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DAILY TRADING HIGHLIGHTS & OUTLOOK 20 Oct, 11
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Aban O ffshore Limited CMP - ` 411.00Technical Outlook &
Trading Strategy:-The share price of Aban Offs has seen a sharp
fall from the highs of `530.8 on 22nd July 2011 to the lows of
`333Levels. The stock has since then pulled back and tended to
trade within the `331.8---`410 range. On the daily chartthe stock
has managed to close above its cluster of moving averages. The
momentum indicator on the daily chart isalso in a bullish zone
suggesting more upside in the stock.We recommend traders to buy in
the range of `409`412.5 levels with a stop loss placed below `398.8
levels fortargets of `425 / `436 levels.
GAIL (India) Limited CMP` 424.00Technical Outlook & Trading
Strategy:-The price of GAIL ha s registered a breakou t from its
descending triangle price pattern on daily charts. It should
benoted that descending triangle breakout on the up side signifies
accumulation and suggest prices to rally. The keymom entum
indicators are also in buy mode.We recomm end traders to buy 50%
now and again in the range of 421 `423 levels with a stop loss
placed below`411.4 levels for targets of `438 `448 levels, expected
to be achieved in coming few Sessions.
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