TRACKING TECHNICALS - MTT BUY CALL ON J&K BANK :Anand Rathi,

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TRACKING TECHNICALS - MTT BUY CALL ON J&K BANK

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SCRIP NAME : J&KBANK                        SECTOR : BANKS - PRIVATE SECTOR                                                    Date : 23rd AUGUST , 2012

CURRENT TREND : BULLISH                 Time Horizon :  0-3 Months       Buy in the Range of  Rs.920 - Rs.950      Stop loss :Rs.875  (ON CLOSING BASIS )

TARGET: Rs.1055

J&KBANK Rs.947 : J&K BANK has been trading within a rising channel on the weekly charts which is highly positive .It has also been consistently making higher highs and higher lows too which indicates that our target of 1055 could be reached soon. The volume activity in the stock has been decent in the past few weeks . J&K BANK is trading comfortably above its major moving averages with the 200DMA at Rs.858, the 100DMA at Rs.918 and the 50 DMA at Rs.936. The all time high for the stock is Rs.1033 and the 200 WMA is at Rs.687.

Thanks & Regards