Buy Tribhovandas Bhimiji Zaveri between CMP & Rs.162 : HDFC secutities

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Current Observation:
 The attached daily timeframe chart of Tribhovandas Bhimiji Zaveri Ltd (TBZ Ltd) has been showing a sharp bottom
reversal pattern in today’s session.
 After showing sharp upmove and the formation of huge upside gap around Rs.154.85-168.20 levels during 1st Dec
14, the stock price declined for subsequently for the next few sessions and has recovered smartly today from near
the gap area of around Rs.156-157 levels.
 The previous opening upside gap could be considered as a bullish breakaway gap and such gaps normally formed in
line with the bottom reversal patterns. The previous huge upside gap has left unfilled by just 1.65 points. This is
positive indication for the underlying and one may expect continuation of uppmove from here.
 We also observe a formation of positive candlestick pattern of ‘bullish engulfing’ from near the strong support of
above said gap, which signaling a possible upside trend reversal pattern here.
 Daily momentum oscillator like 13 period MACD is now turning up from near the key area of equilibrium line (middle
line). This is positive indication of upside momentum.
 Overall chart pattern and upside momentum is showing an opportunity to go for a fresh long trade in TBZ for near
term.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010255