Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, June 5, 2011

Jindal Power and Steel Ltd.

 Monthly Chart

The stock seems to have formed a diamond top pattern which is a bearish pattern. A break down could give a 200 point move which should be around the 400 levels if breaks down this month. This coincides with the 50 % retracement of rise from 86 to 796.

The stock however has been out performing the Nifty and would be a good buy on dips.

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Happy Trading !!
Lakshmi Ramachandran

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