INTRADAY CALL FOR TUESDAY(7-04-2015).
Shown above is the 60 minutes chart of SKF India. As we can see the stock has given multiple breakouts in this trading session. Coming to the breakouts, the stock has given a triangle breakout at 1440 marked by '1' and '3'. The stock has given a breakout of an area of resistance engulfed by the lines marked as '4' and '5'. The stock has given a breakout of a upward and downward sloping triangle marked as '2' and '3' respectively. The stock has also given a breakout of a gap in the chart with high volumes. Therefore, I expect the stock to gear for levels of 1550 but it would be safer to buy the stock above 1514 maintaining a stop loss below 1470.
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