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]
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]
Right Time to Buy HDIL December Series Future, Price Action Testing Support of 62.65 Level
Today we have another trade setup for a stock that was in downtrend, its HDIL. We have seen this stock making the series of lower tops and lower bottom, Today what we have seen is it was trading at 62.65 level which is very strong support for this stock (Low that was made on 3 March 2009). So we expect this stock to bounce from that support level towards 71 zone. Our advice is to accumulate HDIL ... [Continue Reading]
RELIANCE Stock for Short Term Trading: Short Sell Reliance Ind November Futures at 885 for Target 863
Reliance industries for short term trading: Reliance industries didn't perform well in last 1.5 years as it was struck in range, a negative breakout on the stock below 888 was confirmed on 17 June 2011 since then the stock has entered bearish zone and every pullback was considered as selling opportunity. We have discovered a trade setup on weekly chart that stock was facing some resistance near ... [Continue Reading]
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