Techno Funda Stocks Recommendations -6th April 2016

SML Isuzu Ltd : Strong Buy with Target 970 with Stop Loss : 801 ,  CMP 818

Holding period of 2 to 5 weeks.

SML Isuzu Ltd  corrected from its October 2015 high of 1,452 to its February 2015 low of 638.

It is forming an ascending triangle pattern on the daily charts. The base of this pattern is placed around 675 while the neckline of the pattern is placed at 825. The depth of the triangle is worth Rs 150 (825-675).Stock broke out of the neckline with very good volumes. When you add up this perpendicular distance to the breakout level of 825, you get a possible target of 975. 

1) Bollinger band started squeezing upwards - Indicates the start of up trend

2) 20 Day SMA : 782 , 50 Day SMA : 801 , CMP is 848 - confirms the Up Trend

3) MACD has entered the positive territory after almost 5 months

4) RSI is 63.637 , placed in the bullish zone.

Disclaimer-PLEASE NOTE THAT THESE VIEWS AND CALLS ARE AS PER THE ANALYSIS OF CHARTS AND MAY REVERSE ANYTIME. THIS POST IS PURELY FOR EDUCATIONAL PURPOSE ONLY AND NOT TO BE CONSIDERED AS A BUYING OR SELLING RECOMMENDATION. I AM NOT A SEBI REGISTERED RESEARCH ANALYST AND I REQUEST ALL STUDENTS AND READERS OF THIS POST THAT NOT TO TRADE THIS STRATEGY. THIS POST I HAVE POSTED ON THIS PAGE IS FOR MY FUTURE REFERENCE.