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]
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]