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]
M&M is Supported by a Rising Trendline, Support Seen at 681 Level, Buy M&M
M&M is one of our best performing stock in even bad markets. Today after strong selling in nifty futures we have seen this stock testing its support of 681 level which is a rising trend line support. The stock has earlier taken 5 times support at this rising trend line so we believe this time stock will again bounce after testing this support level. Hence we recommend traders to Buy M&M ... [Continue Reading]
Nifty Futures Has Near Term Support at 5160 level, Trade Long in Nifty Futures Near 5170 level
Last two weeks for Nifty futures were good as it peaked at 5400 level, but as we know that markets are still in downtrend so we have seen selling coming at higher levels. Today Nifty futures approached its strong support of 5170 (earlier strong resistance) level. So we are of the view that bounce must be ahead and some small consolidation in today's session must be seen, so traders can take and ... [Continue Reading]
M&M Stock Option Trading: Buy M&M 840 Call Option November Series at 11 for Target 19, M&M has Strong Support
Mahindra & Mahindra is one of the fastest growing 4 wheeler manufacture in India. The company has been shown very strong growth in its 4 wheeler and 2 wheeler segment both. If we speak about the out performance, then M&M stock has recently made 52 week high at 877 levels on NSE, After touching that 52 week high we have seen a steep correction in stock prices, taking it to 813 levels, but ... [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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