Buy Wockhardt between Rs 1125 & Rs 1210. Stoploss at Rs 1030 :: HDFC Sec, report

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 On Weekly chart as well as daily chart, the stock is continuously making higher top higher bottom formation. Earlier the stock was facing resistance on upward sloping trend line from last several weeks but in last 2 weeks the stock has crossed above it. On Friday the stock has closed near high in-spite of market correcting, which suggest bullishness in the stock. The stock has crossed above its earlier extension level of 61.8%  On daily chart MADC has given a bullish breakout by crossing its average from down side & trading above zero line. ADX line also changed its direction suggesting current trend in the stock could remain in the stock for few more weeks.  Traders could accumulate the stock between `. 1125 to `.1210 level for the upside targets of `.1364 (100% extension of the previous move. Stop loss is placed at `.1030 level which is a change of polarity level, 61.8% extension level & support of upward sloping trend line (Stop loss is on weekly closing basis)

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3011089