Below is the technical chart of VIP industries Ltd., listed on Indian stock exchange, using Ichimoku kinko hyo indicator.

In the last 2 months trading session, this stock faces tough resistance on kumo and it was not able to cross it. Even now, it’s trading below kumo; so is the chikou-span line. The chart is in clear downtrend. Rs.75-77 is the immediate target for this stock and then Rs.73. Below it, free fall.

So, make your stop-losses in that way, if you don’t want to exit from this share now.

VIP Industries is in downtrend | Technical Chart | 04-May-2012
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