Tuesday, March 27, 2012

APIL: HNS pattern

alstom projects has made head & shoulder pattern as shown in the chart. it may find strong support @ 345-346 which is NECKLINE of the HNS pattern. closing below 345 will create more selling pressure on this stock. since one month,stock was trying to break its 100 sma line but unable to do that. buying can be initiated in the stock above 400 only. sell the stock if it breaks/sustains below 345...target 328,300,284

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