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20 November, 2017 22:49 IST
Rajesh Bhosle on how to trade in ACC, Bank of India and Dalmia Bharat
Source: IRIS | 12 Sep, 2017, 05.22PM
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Rajesh Bhosle, Technical Analyst at Angel Broking has recommended trading strategies on Rajesh Bhosle on how to trade in ACC, Bank of India and Dalmia Bharat. He gave following rationale for technical strategies:

1. ACC
View-Bullish
Last Close-Rs. 1851.25

''Since last few weeks, the stock has been consolidating in a range forming a 'Rectangular Channel' pattern. On the daily chart, prices have broken above the higher side of consolidation confirming a bullish breakout. The said breakout is witnessed with a bullish candle and above average volume. In addition, we are also witnessing a bullish crossover in RSI with its smoothened moving average. Thus, we recommend buying this stock at current levels for a target of Rs 1935 over the next 5-10 sessions. The stop loss should be fixed at Rs 1810.''

2. Bank of India
View-Bullish
Last Close-Rs. 145.45

''Stock prices of Bank of India after correcting from the levels of 167 have formed a base on the strong support zone of 200DSMA at 140 levels. On the daily chart, prices consolidated near support zone of 200DMA in a narrow range for fifteen trading session and have now given a range breakout on the upside. The said breakout is supported with above average volume. In addition, we are witnessing a bullish crossover with 5DEMA crossing 20DEMA from below. Thus, we recommend buying this stock at current levels for a target of Rs 155 over the next 14-21 sessions. The stop loss should be fixed at Rs 141.''

3. Dalmia Bharat
View- Bullish
Last Close- Rs. 2796.70

''On the daily chart, the stock has given a bullish breakout from a horizontal trend line placed at 2,780 levels. The said trend line proved to be a strong resistance in the past and now indicates a change in polarity. In addition, the 'RSI' oscillator on the daily chart is indicating a positive momentum. Stock prices have entered the unchartered territory and with all the above observation a strong upside cannot be ruled out. Thus, we recommend buying this stock at current levels for a target of Rs 2930 over the next 14-21 sessions. The stop loss should be fixed at Rs 2735.''

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