Gokaldas Exports Limited:
Technically this stock is looking great for the short term. Yet another incidence of a stock losing more than half its value in this wonderful bull market. It had fallen to a low of 186.65 last month from a high of 407.70 in April 2006. The stock was split into a face value of Rs.5 from Rs.10 during February 2007. The high corresponds to the adjusted value.
Watch the chart below. It is in the third wave and it has broken its short term resistance at 234.
In weekly charts, it is currently in the first wave. So, after the 5th wave in daily charts, the stock may either get corrected or consolidate. If the stock is able to move into 3rd wave in weekly charts, we can view it for a medium term.
Hindustan Construction Company Limited:
Orbit Corporation Limited:
South Indian Bank Limited:
Short term targets work out to about 156.
Opto Circuits India Limited:
This stock is bullish in both daily and weekly charts. Watch the huge triangle breakout in daily charts with a triangle height of around 94 rupees. After the breakout the stock went into consolidation. It has once again broken out. Short term target works out to 455. The triangle breakout, again is a very bullish sign.
We will watch out for the stock’s performance.
We shall review the stocks discussed here in our future articles.