Last Close: Rs 1,464.75
Target: Rs 1,570
Last Close: Rs 442.35
Initiation range: Rs 444-448
Target: Rs 425
Stop loss: Rs 455
BHARATFORG has been witnessing correction for the last one year or so. It has failed twice in attempt to surpass the resistance barrier of 200 EMA on the daily chart of late and gradually inching lower. The chart structure is now pointing towards gradual fall. Thus, we suggest traders to use any uptick to go short in the given range.
Last Close: Rs 212.10
Initiation range: Rs 215-217
Target: Rs 204
Stop loss: Rs 222
In line with the other PSU banking counters, CANBK has also witnessed decent recovery of late but failed to breach its resistance hurdle of 200 EMA on the daily chart and gradually drifting lower. Considering its chart pattern and overall downtrend, we expect a fresh decline ahead. We advise initiating fresh shorts as per the levels.
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