Stock of the Week (23rd – 28th May ’11)

Stock for the next week is ORIENTAL BANK OF COMMERCE. It is looking strong on charts as it is being consolidating with positive biasness from last many trading sessions. It is currently trading above its 10 days moving average with 46.31 RSI in daily charts. If it manages to sustain above the level of 336, we may expect an up rally in the stock, one could go for long position in the stock above 339 for the targets of 346/355 with strict Stop Loss at 330.