Thursday, January 31, 2013

mcdowells buying & selling levels

United spirit (Mcdowells) near its support level....
stock is trading in an ascending triangle & 1741 is very important support level for the stock... intraday traders should keep eye on this level... sell below 1741 to get target of 1720, 1700, 1680.
buying is advisable only if stock breaks trendline resistance as shown in fig. & closes above 50dma (short term moving average) which is 1900. so buy above 1900 short term target is 1950, 2000, 2050
wait for the level. CMP 1815