Sunday, 9 March 2014

Short Term Pick: Buy J.B. Chemical & Pharma


Analysis:
  • Stock is forming triangle formation on daily chart with taking support as shown by horizontal line.
  • Stock is corrected up to 78.8% from its high of 139.20 and enters in consolidation phase. And recently it came out of range suggest it may resume upward momentum.
  • Indicators like RSI, MACD, ADX and ROC suggest buying signals.
  • Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest uptrend.


Strategy: Buy JB Chemical at CMP- 134.85 and add on dips to 130 for possible Target- 154/ 165 with stop below 125 on daily closing basis.
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