Sanghvi Forging & Engineering Ltd. Technical Chart | 30-Nov-2011

Below is the technical chart of Sanghvi Forging & Engineering Ltd., listed on Indian stock exchange. I’ve used Ichimoku” style=”padding-bottom: 0px !important; background-image: url(data:image/gif;base64,R0lGODlhBAADAIABAP8NDQAAACH5BAEAAAEALAAAAAAEAAMAAAIFRB5mGQUAOw==) !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; text-decoration: none !important; white-space: nowrap !important; background-position: 50% 100%; background-repeat: repeat no-repeat !important; “>Ichimoku Kinko Hyo indicator on the chart.

Yesterday, this stock CLOSED above kumo and thus giving bullish breakout. So, one can buy this stock with a stop loss of 26.92. The only problem is thatChikou-Span (CS) line is still under kumo. That can create some resistance in coming trading session. Once that also closes above kumo, one will surely bull run of this stock in short term. Watch it carefully.

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