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Lead Bullish Harami pattern on Daily Chart 16.06.2014

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Posted by : Nifm
16 June, 2014, 2:34 PM
Lead Bullish Harami pattern on Daily Chart 16.06.2014
Lead on MCX settled at 124 up by 2.05 rupees. Lead could not continue falling and settled with a bullish harami candlestick pattern indicating presence of buying forces in this counter. Today again support would be 121.80 any failure below that level would bring 121-120 on cards. Resistance is now seen near 125.10 any sustained move above that level would bring 126.30 and more upside. Lead trading range for the day is expected among the key support at 121.80 and resistance at 125.1. Recommendation: ·         Today again selling lead on jumps around 123-123.50 with stop loss above 125 for targeting 121-120 and more down side might be appropriate in short term. ·         In alternative scenario selling below 121.80 with stop loss above 123.60 for targeting 121-120.30 and more down side. Buying can be taken above 125.10 with stop loss below 124 for targeting 126.30 and 127 might be appropriate.

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