Orient Bank of Commerce (BUY, CMP Rs277, Target Rs295): On the daily chart, the stock broke out from a four week resistance line. The stock touched a low of Rs253 in early February 2010, which has proved to be an intermediate low. Since then, the stock has created multiple higher bottom formations. The supportive technical oscillators are positive and the upmove which begun last week from the levels of Rs258 has taken support at 100-DMA. We recommend traders to buy the stock between the range of Rs275-280 for target of Rs295 with a stop loss of Rs268.
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