Wipro after very good bounce in last few days trading session, has now entered its resistance zone which is confirmed by 100 EMA (Exponential moving average) and 23.6% Fibonacci retracement level. So this level (411 level) can act as very strong resistance for this stock and we may see the stock to move lower towards 400 and then 395 levels. Traders can take advantage of this move by going short ... [Continue Reading]
Crompton Greaves is Offering Short Selling Trade Setup, Stock Trading Near Resistance
The stock that is trading near its short term resistance is CROMPGREAV (Crompton Greaves Ltd.), On daily charts we have found resistance for this stock near 136 to 139 zone and luckily we have spotted this opportunity to trade short on CROMPGREAV December futures. Traders can enter short positions in range 136 to 139 on CROMPGREAV December future contract, for positional targets as 130.1 and then ... [Continue Reading]
Nifty Future Major Resistance at 5000 level, Short Selling opportunity in Nifty Futures December Series
An increase in US Dollar liquidity by group of major Central Banks, has given very good surprise by reducing over night swap rates of USD by 50 bps. This has led all the stock markets across the globe bounce, and was responsible for this risk aversion rally in all risky assets. We are of view that this rally is short lived and bears will return in control very soon. Yesterday there were many ... [Continue Reading]
Stock Trading at Strong Support: Buy MCDOWELL-N Future near 694, Target 719
United Spirits Ltd, is trading near the strong support zone and we are expecting MCDOWELLS-N stock to bounce towards 719 level in 2 or 3 days. Stock is extremely oversold looking at 15 days RSI we see it at 27 level, hence a bounce at this support level is more likely to come out of oversold region and we have target for MCDOWELLS-N stock at 719 and then 726 levels. We will advice traders to buy ... [Continue Reading]
Short Selling Opportunity in ICICI Bank, Stock has Resistance near 760 Zone
In the recent down fall, ICICI Bank has given a negative breakout and stock has underperformed Nifty futures. This downside breakout below 765 support level (50% Fibonacci retracement level), is now turned into resistance and any move towards that level must trigger strong selling in ICICI Bank stock. So trading in the direction of the daily trend we advice to go short on ICICI Bank December ... [Continue Reading]
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