Technical Outlook & Trading Strategy:-
The reality sector witnessed heavy selling pressure on Friday’s session of trade. The price of DLF also fell on the back of strong volumes.
The Rs 208 levels is the crucial support for the price of DLF. On the weekly chart this breakdown will open up downside targets of Rs 195 / Rs 184 levels.
The momentum indicators are also in sell mode and the price of DLF has also closed below its key moving average clusters since the past few sessions of trade.
We recommend traders to Buy DLF 200 Aug PUT between Rs 3.50 - Rs 5 for targets of Rs 9 / Rs 12 with a stoploss placed below Rs 0.30
Showing posts with label trading recommendation. Show all posts
Showing posts with label trading recommendation. Show all posts
Monday, August 8, 2011
Friday, August 5, 2011
TRADING RECOMMENDATIONS Century Textiles & Industries Ltd.
Century Textiles & Industries Ltd. CMP— Rs 329.30
Technical Outlook & Trading Strategy:-
On the daily chart the share price of Century Text has closed below its cluster of moving averages. The stock has registered a breakdown from a symmetrical triangle pattern. It should be noted that symmetrical triangle breakdown signify distribution and suggest price declines. The momentum indicators are also in a bearish zone.
We recommend traders to sell 50% below Rs 326 and again in the range of Rs 328 – Rs 330 levels with a stop loss placed above Rs 336.6 levels for targets of Rs 315 – Rs 306 levels, expected to be achieved in coming few sessions.
Technical Outlook & Trading Strategy:-
On the daily chart the share price of Century Text has closed below its cluster of moving averages. The stock has registered a breakdown from a symmetrical triangle pattern. It should be noted that symmetrical triangle breakdown signify distribution and suggest price declines. The momentum indicators are also in a bearish zone.
We recommend traders to sell 50% below Rs 326 and again in the range of Rs 328 – Rs 330 levels with a stop loss placed above Rs 336.6 levels for targets of Rs 315 – Rs 306 levels, expected to be achieved in coming few sessions.
TRADING RECOMMENDATIONS Tata Global Beverages Ltd.
Tata Global Beverages Ltd. CMP— Rs 111.00
Technical Outlook & Trading Strategy:-
The share price of Tata Global Beverages has registered a breakout form its resistance level of Rs 109 with an increase in trading volumes. The overall technical set up remains positive. We believe that the share price could head towards the level of Rs 115 / Rs 118 in the near term.
We recommend buy at current level and again on pullback to the level of Rs 110 - Rs 109 with a stoploss placed below Rs 107 level.
Technical Outlook & Trading Strategy:-
The share price of Tata Global Beverages has registered a breakout form its resistance level of Rs 109 with an increase in trading volumes. The overall technical set up remains positive. We believe that the share price could head towards the level of Rs 115 / Rs 118 in the near term.
We recommend buy at current level and again on pullback to the level of Rs 110 - Rs 109 with a stoploss placed below Rs 107 level.
Thursday, August 4, 2011
TRADING RECOMMENDATIONS Hindustan Oil Exploration Ltd.
Hindustan Oil Exploration Ltd. CMP— Rs 171.80
Technical Outlook & Trading Strategy:-
The share price of Hindustan Oil Exploration has taken strong support & seems to be making a double bottom at Rs 165. It has shown a reversal bar at this level , suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of Rs 178 /Rs 180 shortly.
We recommend a buy at current price and on pullback to the level of Rs 169 --Rs 168 with stop loss placed below Rs 165.
Technical Outlook & Trading Strategy:-
The share price of Hindustan Oil Exploration has taken strong support & seems to be making a double bottom at Rs 165. It has shown a reversal bar at this level , suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of Rs 178 /Rs 180 shortly.
We recommend a buy at current price and on pullback to the level of Rs 169 --Rs 168 with stop loss placed below Rs 165.
TRADING RECOMMENDATIONS Titan Industries Ltd.
Titan Industries Ltd. CMP— Rs 225.15
Technical Outlook & Trading Strategy:-
The share price of Titan appears to be forming Head & Shoulder formation. This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 218 / Rs 215 levels.
Short positions are recommended at current levels with a stop placed above Rs 231.60 levels.
Technical Outlook & Trading Strategy:-
The share price of Titan appears to be forming Head & Shoulder formation. This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 218 / Rs 215 levels.
Short positions are recommended at current levels with a stop placed above Rs 231.60 levels.
Wednesday, August 3, 2011
TRADING RECOMMENDATIONS Exide Industries Ltd.
Exide Industries Ltd. CMP—Rs 149.90
Technical Outlook & Trading Strategy:-
The share price of Exide Industries has closed near to its support level of Rs 148. This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future.
Traders should look to initiate short positions on a breakdown of Rs 148 for price targets to levels of Rs 143/ Rs 140.
We recommend all sell positions be protected with a stop placed above Rs 152.60 levels.
Technical Outlook & Trading Strategy:-
The share price of Exide Industries has closed near to its support level of Rs 148. This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future.
Traders should look to initiate short positions on a breakdown of Rs 148 for price targets to levels of Rs 143/ Rs 140.
We recommend all sell positions be protected with a stop placed above Rs 152.60 levels.
TRADING RECOMMENDATIONS Moser-Baer Ltd.
Moser-Baer Ltd. CMP— Rs 35.45
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
Tuesday, August 2, 2011
Ranbaxy Laboratories Ltd. CMP—Rs 561.45
Technical Outlook & Trading Strategy:-
The share price of Ranbaxy Laboratories had been consolidating sideways in the range Rs 530 - Rs 555 levels since the past few weeks.
With the smart gains in today’s session the price now has given a break-out above this consolidation range with an increase in trading volumes. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 580 / Rs 595 in near future.
We recommend buy at current lev els and again on pullback to the levels of Rs 556 – Rs 553 with a stop loss placed below Rs 544.90 levels.
The share price of Ranbaxy Laboratories had been consolidating sideways in the range Rs 530 - Rs 555 levels since the past few weeks.
With the smart gains in today’s session the price now has given a break-out above this consolidation range with an increase in trading volumes. We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 580 / Rs 595 in near future.
We recommend buy at current lev els and again on pullback to the levels of Rs 556 – Rs 553 with a stop loss placed below Rs 544.90 levels.
Bank of India Ltd. CMP—Rs 382.75
Technical Outlook & Trading Strategy:-
The share price of Bank of India Steel has closed right above its support level of Rs 380.
This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future. Traders should look to initiate short positions on a breakdown of Rs 380 for price targets to levels of Rs 365 / Rs 355.
We recommend all sell positions be protected with a stop placed above Rs 391.40 levels.
The share price of Bank of India Steel has closed right above its support level of Rs 380.
This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future. Traders should look to initiate short positions on a breakdown of Rs 380 for price targets to levels of Rs 365 / Rs 355.
We recommend all sell positions be protected with a stop placed above Rs 391.40 levels.
Monday, August 1, 2011
Jindal Steel & Power Ltd. CMP—Rs 587.85
Technical Outlook & Trading Strategy:-
The metals sector witnessed heavy selling pressure on Friday’s session of trade. The price of Jindal Steel also fell on the back of strong volumes. The Rs 600 levels was the crucial support for the price of Jindal Steel.
On the weekly chart this breakdown has opened up downside targets of Rs 540 / Rs 500 levels. The momentum indicators are also in sell mode and the price of Jindal Steel has also closed below its key moving average clusters since the past few sessions of trade.
We recommend trader to buy 560 PE between Rs 9- Rs 12 with a stoploss placed below 1 for targets of Rs 25 / Rs 30.
The metals sector witnessed heavy selling pressure on Friday’s session of trade. The price of Jindal Steel also fell on the back of strong volumes. The Rs 600 levels was the crucial support for the price of Jindal Steel.
On the weekly chart this breakdown has opened up downside targets of Rs 540 / Rs 500 levels. The momentum indicators are also in sell mode and the price of Jindal Steel has also closed below its key moving average clusters since the past few sessions of trade.
We recommend trader to buy 560 PE between Rs 9- Rs 12 with a stoploss placed below 1 for targets of Rs 25 / Rs 30.
ABG Shipyard Ltd. CMP—Rs 388.40
Technical Outlook & Trading Strategy:-
On the daily chart the share price of ABG Shipyard is sustaining above its cluster of moving averages for past few sessions. On the weekly chart the stock has registered a breakout from a symmetrical triangle pattern.
It should be noted that symmetrical triangle breakout signify consolidation and suggest price advances. The momentum indicators are also in a bullish zone.
We recommend traders to buy 50% now and again in the range of Rs 382 – Rs 385 levels with a stop loss placed below Rs 375.8 levels for targets of Rs 395 – Rs 405 levels, expected to be achieved in coming few Sessions.
On the daily chart the share price of ABG Shipyard is sustaining above its cluster of moving averages for past few sessions. On the weekly chart the stock has registered a breakout from a symmetrical triangle pattern.
It should be noted that symmetrical triangle breakout signify consolidation and suggest price advances. The momentum indicators are also in a bullish zone.
We recommend traders to buy 50% now and again in the range of Rs 382 – Rs 385 levels with a stop loss placed below Rs 375.8 levels for targets of Rs 395 – Rs 405 levels, expected to be achieved in coming few Sessions.
Friday, July 29, 2011
Union Bank of India Ltd. CMP - Rs 287.45
Technical Outlook & Trading Strategy:-
The share price movement of Union Bank of India as registered a breakdown from its descending triangle pattern.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 275 / Rs 270 in the short term.
We recommend traders to sell 50% now and again at Rs 291 - Rs 293 with a stop loss placed above Rs 297.10 levels.
Arvind Ltd. CMP—Rs 90.40
Technical Outlook & Trading Strategy:-
The share price of Arvind had been consolidating sideways in the narrow range Rs 84 - Rs 89 levels since the past few sessions.
With the smart gains in today’s session the price now has given a break-out above this consolidation rangewith an increase in trading volumes.
We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 94 – Rs 95 / Rs 98 in near future.
We recommend buy at current levels and again on pullback to the levels of Rs 89.20 – Rs 88.70 with a stop loss placed below Rs 86.80 levels.
Thursday, July 28, 2011
Gitanjali Gems Ltd. CMP - Rs 322.05
Technical Outlook & Trading Strategy:-
The share price of Gitanjali Gems Industries appears to have broken out from its rising trendline resistance.
Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 334/ Rs 342.
We recommend traders to buy 50% now and again at Rs 315- Rs 317 with a stop loss placed below Rs 310.80 Disclaimer.
The share price of Gitanjali Gems Industries appears to have broken out from its rising trendline resistance.
Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 334/ Rs 342.
We recommend traders to buy 50% now and again at Rs 315- Rs 317 with a stop loss placed below Rs 310.80 Disclaimer.
Indian Overseas Bank Ltd. CMP—Rs 136.30
Technical Outlook & Trading Strategy:-
The share price of Indian Overseas Bank had been consolidating sideways in the narrow range Rs 138 - Rs 148 levels since the past few sessions.
With today’s movement the price now has given a break-down below this consolidation range. It has also has closed above its short term moving averages.
We believe that this breakdown suggests that the stock price could decline to levels of Rs 131 / Rs 128 in near future.
We recommend sell at current levels and again on pullback to the levels Rs 138- Rs 139 with a stop loss placed above Rs 141.10 levels.
The share price of Indian Overseas Bank had been consolidating sideways in the narrow range Rs 138 - Rs 148 levels since the past few sessions.
With today’s movement the price now has given a break-down below this consolidation range. It has also has closed above its short term moving averages.
We believe that this breakdown suggests that the stock price could decline to levels of Rs 131 / Rs 128 in near future.
We recommend sell at current levels and again on pullback to the levels Rs 138- Rs 139 with a stop loss placed above Rs 141.10 levels.
Wednesday, July 27, 2011
Bharti Airtel Limited CMP - Rs 421.7
Technical Outlook & Trading Strategy:-
On the daily chart the stock has formed a Bearish Harami Candlestick Pattern. Traders should note that a Bearish Harami candlestick formation is a significant bearish reversal candlestick pattern suggesting downside for the stock.
We recommend traders to sell 50% below 421 and again in the range of Rs 423 – Rs 425 levels with a stop loss placed above Rs 433.6 levels for targets of Rs 408 – Rs 400 levels.
On the daily chart the stock has formed a Bearish Harami Candlestick Pattern. Traders should note that a Bearish Harami candlestick formation is a significant bearish reversal candlestick pattern suggesting downside for the stock.
We recommend traders to sell 50% below 421 and again in the range of Rs 423 – Rs 425 levels with a stop loss placed above Rs 433.6 levels for targets of Rs 408 – Rs 400 levels.
Canara Bank CMP—Rs 514.8
Technical Outlook & Trading Strategy:-
The share price movement of Canara Bank from 24 May 2011 till date has formed a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify distribution and suggest price declines once the breakdown is recorded (at Rs 510 for the said pattern).
A breakdown suggest a downside movement with possible price targets of Rs 495- Rs 480 / Rs 470 in a short period of time.
We recommend traders to sell 50% below Rs 510 and again in the range of Rs 512 – Rs 515 levels with a stop loss placed above Rs 525.6 levels for targets of Rs 495 – Rs 480 levels, expected to be achieved in coming few Sessions.
The share price movement of Canara Bank from 24 May 2011 till date has formed a symmetrical triangle pattern.
It should be noted that symmetrical triangle patterns signify distribution and suggest price declines once the breakdown is recorded (at Rs 510 for the said pattern).
A breakdown suggest a downside movement with possible price targets of Rs 495- Rs 480 / Rs 470 in a short period of time.
We recommend traders to sell 50% below Rs 510 and again in the range of Rs 512 – Rs 515 levels with a stop loss placed above Rs 525.6 levels for targets of Rs 495 – Rs 480 levels, expected to be achieved in coming few Sessions.
Tuesday, July 26, 2011
TRADING RECOMMENDATIONS BF Utilities Ltd
BF Utilities Ltd. CMP - Rs 765.10
Technical Outlook & Trading Strategy:-
The share price movement of BF Utilities appears to be taking form of an Inverted Head & Shoulder pattern. An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline. In the case of BF Utilities the neckline is placed at the levels of Rs 773. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 800 /Rs 820.
We recommend traders to buy above Rs 773 with a stop placed below Rs 751.30 levels.
Technical Outlook & Trading Strategy:-
The share price movement of BF Utilities appears to be taking form of an Inverted Head & Shoulder pattern. An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline. In the case of BF Utilities the neckline is placed at the levels of Rs 773. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 800 /Rs 820.
We recommend traders to buy above Rs 773 with a stop placed below Rs 751.30 levels.
Sun Pharmaceuticals Industries Ltd.
Sun Pharmaceuticals Industries Ltd. CMP—Rs 525.65
Technical Outlook & Trading Strategy:-
The share price of Sun Pharmaceuticals Industries appears to have broken out from its rising trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 545 / Rs 560.
We recommend traders to buy 50% now and again at Rs 521- Rs 518 with a stop loss placed below Rs 507.80
Technical Outlook & Trading Strategy:-
The share price of Sun Pharmaceuticals Industries appears to have broken out from its rising trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 545 / Rs 560.
We recommend traders to buy 50% now and again at Rs 521- Rs 518 with a stop loss placed below Rs 507.80
Monday, July 25, 2011
ICICI Bank Ltd. CMP - Rs 1068.05
Technical Outlook & Trading Strategy:-
The ICICI BANK has seen a sharp fall from a high of Rs 1279 on 5th Nov 2010 to a low of Rs 939.8 on 9th Feb 2011.
Then the stock has retraced more than 50% of the previous fall to a high of Rs 1139 on 15th April 2011.On the weekly chart the stock has formed a Hammer Candlestick Pattern.
We would like to point out that a Hammer candlestick formation is a significant bullish reversal candlestick pattern suggesting more upside for the stock.
The MACD indicator on the daily chart is also in a bullish zone. We recommend traders to buy 50% now and again in the range of Rs 1055 – Rs 1062 levels with a stop loss placed below Rs 1036.4 levels for targets of Rs 1100 – Rs 1125 levels.
The ICICI BANK has seen a sharp fall from a high of Rs 1279 on 5th Nov 2010 to a low of Rs 939.8 on 9th Feb 2011.
Then the stock has retraced more than 50% of the previous fall to a high of Rs 1139 on 15th April 2011.On the weekly chart the stock has formed a Hammer Candlestick Pattern.
We would like to point out that a Hammer candlestick formation is a significant bullish reversal candlestick pattern suggesting more upside for the stock.
The MACD indicator on the daily chart is also in a bullish zone. We recommend traders to buy 50% now and again in the range of Rs 1055 – Rs 1062 levels with a stop loss placed below Rs 1036.4 levels for targets of Rs 1100 – Rs 1125 levels.
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