OurNifty.com

A Indian Stock Market Blog

Strong Breakout given by INDIABULLS, trading above resistance of 193

By Leave a Comment

Last Friday (22-Oct-2010) we saw strong run-up in the stock of Indiabulls Financial Services Limited with volume more than 11 million (11,959,242), This rally is a positive breakout and the stock must post further gains. This stock has seen strong resistance at 193 levels in the past but, the closing above this levels has opened the way for 234 and 252. A temporary overbought situation might keep this stock in range of 205 to 213, so this is like a buying opportunity.

Our recommendation: Enter this stock at 203 to 209 levels for the target of 234 and 252. Stop loss must be placed at 191. We are very Bullish on this stock.

Share
Tweet
Pin
0 Shares

You Should Read This:

  1. IGL Stock is Supported by Rising Trendline, Strong Buy Recommended near 357 Level IGL is our short term recommendation, this stock has been continuously trending up, Which is supported by rising trend line. Since the stock is in long term uptrend we will focus only on buying signals...
  2. Nifty future range trading strategy: Trade Support and resistance Here is short term range trading strategy for nifty future, hourly chart suggest levels of support resistance for short term: Strong support can be found at 5640 level, where as strong resistance 5720 level for...
  3. Intraday trade: Buy SESAGOA, Stock gave strong breakout Sesagoa has been trading in a tight range for sometime and today it has given a breakout of upper end of range. Since this stock is a high beta stock, traders should trade long on...
  4. Wipro Has Strong Resistance at 411 Level, Go Short on Wipro December Future 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...
  5. Methods of Taking entries in stock: Breakout trading vs Pullback trading There has always been debate on the method of taking entries on stock. Some traders say they trade when breakout occurs, some say they take entries when stock gives pullback or rallies against the trend....
About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Leave a Reply

Your email address will not be published.

Previous Post:
Next Post: