Aban Offshore: Low Risk Opportunity

The stock has been in a steady downtrend for several months now. From the recent price action, it is apparent that the momentum behind the fall however has been slowing.

Aban Offshore Daily Chart

The stock presents a low-risk buying opportunity with a stop-loss at Rs.486. The profit in long positions may be taken at Rs.580.

While there is a case for a brief bounce, the short-term trend remains bearish. The stock has to move above immediate resistance at Rs.602 to indicate scope for further upside.

IRB Infrastructure: Time to Hunt Long Positions

The stock has been in a major downtrend from the Aug. 24 high of Rs.312.80. The price action since May 25 indicates that a short-term uptrend is underway.

IRB Infra Daily chart, Time to Hunt Longs

The buyers seem keen to accumulate the stock around the Rs.148-level. The chart patterns last week suggest that the buyers may now be keen to buy at Rs.154 levels.

Long positions may be considered with a stop loss at Rs.152, for a target of Rs.194.


Hindustan Unilever: Uptrend May Continue

The stock has been an outperformer in the recent weeks. The breakout last week above the major resistance at Rs.326 confirms strong buying interest.

From the attached daily chart, it’s apparent that the magenta lines have been in tune with the price. Any retracement down to the blue trendline at Rs.331, would be a buying opportunity.

The stop-loss for long positions may be placed at Rs.315. Profits in long position may be taken at Rs.356. The major target-cum-resistance is at Rs.390.

Dish TV India: Uptrend To Continue

The stock has been in a steady uptrend and the minor correction in the past few days appears to be an opportunity to buy the stock.

Long positions may be considered at Rs.89, with a stop loss at Rs.85, for a target of Rs.103.

This trade is based on the premise that the recent upward momentum would continue and that the buyers would step-in to accumulate the stock on every minor correction.

A breach of the stop-loss at Rs.85 would indicate that a much deeper downward correction is underway and would not negate the short-term bullish view or the possibility of a rally to Rs.103. 

The stock has to fall below the recent swing low of Rs.77.60 to indicate reversal of the bullish trend.