stock pick for 31/12/2009 -Tata Chemical

Tata Chemical (333)

After making a double bottom at 310 level, the stock is marching northward and yesterday the stock has broken and closed above previous swing high of 330 level with “Long White Candle” bullish candlestick pattern on daily chart. Daily Momentum indicators are exhibiting positive divergence. Looking at all the above observations traders can buy at current level with a tight stop loss of Rs.326 on closing basis for a Target of Rs.350.
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View by Analyst Dhawal Jhoshi -www.freestockmagic.blogspot.com