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Ranbaxy – A Correct Technical Analysis Call for Short Term

We have been bullish on Ranbaxy and it reversed its trend on 29 Mar 2012 when our trading software gave us a signal to buy for short term. Our Short term stock tips subscribers went long in the stock and now we have given an exit call on 24 Apr 2012 as stock is nearing its stiff resistance from where it normally reverses.

To us Ranbaxy level of 525 appears as a stiff Laxman Rekha and our subscribers are happy booking profit as aim is to exit at the right time with good amount of profit. Have a look at below rate chart which shows our entry price on 29 Mar 2012 and exit price on 24 Apr 2012 on closing basis.

4/24/2012 524.7
4/23/2012 517.25
4/20/2012 517.95
4/19/2012 518.45
4/18/2012 508.75
4/17/2012 508.35
4/16/2012 506.75
4/13/2012 499.8
04-12-12 505.6
04-11-12 489.15
04-11-12 489.15
04-10-12 484.15
04-09-12 497
04-04-12 477.95
04-03-12 465.55
04-02-12 458.95
3/30/2012 469.4
3/29/2012 446.9

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