Oil & Natural Gas Corporation Ltd. CMP— Rs 283.10
Technical Outlook & Trading Strategy:-
The Share price of ONGC has registered a strong bounce back from its weekly support level of Rs 269 levels. On the daily chart the stock has closed above its short term moving averages. We believe that the stock could move up to the levels of Rs 292 -Rs 295 /Rs 300 in the near term.
We recommend traders to buy at current levels and again on pullback to the Rs 280 – Rs 278 with a stop loss placed below Rs 273 levels.
Tuesday, August 9, 2011
Monday, August 8, 2011
DLF Ltd. CMP—Rs 210.25
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
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
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.
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