Friday, August 11, 2006

Bluestar Infotech Limited - Profit Time



Bluestar Infotech broke a nice triangle at 81 and has since then rallied to 91, a good appreciation of approximately 12%. What is next in store for the stock
  • RSI seems to have given the first negative sign for the stock. At about 65, the stock seems to be at the end of its rally.
  • The MACD is yet to give any signal, in terms of the height of the column bars. It still seems to be appreciating.
  • The stock has some resistance at 95 from the previous rally in late May.
Given all this, the stock can be looked as a prime candidate for profit booking.

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