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Moneycontrol.com >> Message Board >> View Messages >> Hindalco
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Hindalco can reach 200 (1)   24-Jul-08 20:56Tracked by (0)  
Posted by:   chani on ( 24-Jul-08 20:56 )
Price : BSE: Rs 151.60 ( -0.20 % ), NSE: Rs. 152.05 ( 0.07 % )
But technically it is still showing huge fall in bse medium trend.
Negative Candidate -Medium term, Jul 24, 2008 Analysis Explanation
Has broken the floor of the rising trend, which indicates a weaker initial rising rate. Gave a negative signal from a rectangle formation by the break down through the support at 161. Further fall to 95.89 or lower is signaled. The stock is testing the resistance at 154. This should give a negative reaction, but an upward breakthough of 154 means a positive signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the trend break. The stock is overall assessed as technically negative for the medium long term.

So unless it goes up from 160 and stays then we can say it is upward and can touch 200.

chani

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