Tuesday, July 12, 2016

Bharat Forge


Bharat Forge looks in long term uptrend and have been into correction for almost a year or so. It is finding support near 200 Weekly EMA. One can buy the stock once it breakout of the downward trending channel show in image below or Else can buy at deeper if it corrects further towards lower channel. But it looks corrected enough and ready to move in this earning cycle. Stock also made hammer which shows strong buying signs and can see further upside from current levels.

Buy the stock with 1 year time horizon in mind to see the targets of 1100 -1110 and if stay at those levels then it can see previous high of 1363 levels.

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