Sell/Reduce HDIL between CMP to Rs.68 :: HDFC Securities

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Week’s action is forming a strong bear candle with
good volumes and the stock is showing negative
bias for the short to medium term.
 Price has completed the counter trend
retracement rising leg at 72.50 levels which could
be short term or medium term top for the stock.
 Price has started to slide for the next falling leg
with strong negative candle.
 Rising wedge breakdown has been witnessed
which is a significant bearish indication for short
term
.
 In addition the rise has halted at change of polarity
line which is resisting the bulls to perform.
 Traders could sell the stock between CMP to 68
with the stoploss of 70 on closing basis for the
target
s of 59
- 55
.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010594