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Friday, October 24, 2014

INGERSOLL RAND

This share has formed cup and handle pattern and it is at all time high. and it is nearly qualified for darvas trading method. Traded above 50,100 and 200 dmas.Obv indicates accumulation and the stock is performing better than nifty.Adx is in trending zone plus di is above minus di.Most of the momentum indicators are showing uptrend.Vh filter is in trending zone.Expansion of bolinger bands near keltner channel indicates trendiness. Most of the volume based indicators are in buy mode.

CONCLUSION: AS THE SHARE HAS FORMED CUP AND HANDLE AND NEARLY QUALIFIED FOR DARVAS TRADING I PREFER TO BUY NEAR THIS LEVEL AND HAVE INITIAL STOPLOSS AT 672 AND BOOK PROFIT OR EXIT WHEN SHARE CROSSED BELOW FOUR DAYS LOW
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