M&M is in a strong uptrend, stock has been an out-performer and also better stock from auto sector. Stock has approached at resistance of 875 as this was the level where stock has previously found resistance. So my trading idea is to short sell M&M when it trades at 875 level for a positional target as 825 and then 810 level. Stop loss for this trade will be above 890 on daily closing ... [Continue Reading]
Nifty Future has resistance at 5640 level, Short sell Nifty
Nifty future traded higher last week, as it went from 5230 to 5645. But on daily chart level of 5640 is a resistance, and I believe it will hold nifty future sometime here before next up-move is seen. So I am going against the trend this time to play support resistance trade on nifty future, I would be looking to go short on nifty future around 5615 level, for targets as 5555 and then 5525. Stop ... [Continue Reading]
Technical Analysis: Short Sell BankNifty at 9899 (Spot Level), Resistance at 9900 Zone
I am having a trade setup on Bank Nifty future, while looking at the daily chart I see some resistance on bank nifty future at 9900 zone (Spot Level). I will be looking for short selling opportunity around 9900 level (Spot Level), for trading target 9700 level (Spot Level) while placing stop at 10000 zone (Spot Level). Look at the Bank Nifty chart: You can also see 100 EMA acting as resistance ... [Continue Reading]
Steel Sector May See More Downside: Demands Low, Jindal Steel Hit by Mines closed in Bellary
Jindal Steel & Power Ltd. is the flag ship company of O.P Jindal group. This company was listed on NSE on 29 December 1999, looking at the stock chart we see that the price action was showing the bullishness on the stock and we are sure that the long term trend is likely to continue. At the CMP (current market price) we see that the stock is trading in the range and there should be a breakout ... [Continue Reading]
DLF is in Down Trend Since Recession of 2008, Trading Strategy is to Short Sell on Every Bounce
DLF Ltd. is the largest real estate developer in India. But since the sub-prime loan crisis in the western countries DLF has moved to its lowest level in November 2009. DLF stock on NSE is still trading with bearish bias and we see that it is taking the resistance at the 100 EMA, Since the price action is close to that resistance level we are expecting the selling coming in the DLF stock. We ... [Continue Reading]
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