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OSWAL CHEMICALS & FERTILIZERS LTD. (NSE; BINDALAGRO)

Thursday, June 11, 2009 6:05 pm
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A Company of CNX100/CNX 500/MIDCAP
ISIN CODE INE143A01010

Face value – 10.00
Market lot – 1
Total traded quantity – 8632650
Turnover in Rs.Lakhs – 2352.4
52 Week High/Low – 36.95/8.20

Current Price – 27.75
Current Trend – POSITIVE BIAS

Support: 25, 20
Resistance: 31, 40

Stop Loss: 24
Target: 35, 40

bindalagro-11-6-2009

Technical Report:

Technically OSWAL CHEMICALS & FERTILIZERS LTD. looks to be bullish as good recovery is expected till the level of 35 to 40 and above.

All important indicators are making BINDALAGRO a bullish stock. Trend reversal had occurred from the level of 13. Good recovery is expected till the level of 35 to 40.

If BINDALAGRO manage to trade and sustain above the level of 28 more recovery is expected till the level of 35, 40.

MACD are giving buy signal to this stock. Here 20DMA are crossed the 200DMA earlier from down, which is supporting the MACD signal of buying. Even the trade is heading towards bullish trend with increased volume.

MFI is at over bought level, which is showing positive trend, more buyers is expected to come at this level.

Our recommendation is to go long (buy) in BINDALAGRO. Buy BINDALAGRO above the level of 28 with stop loss of 24 for the target of 35 to 40.

Our recommendation is for 15 to 18 trading days time.

All the information provided are truly based on technical research only.

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