Nifty future on daily chart was seen testing the all time high level of 6333 many times, but every time it was rejected from that area. This gives us an idea that, market participants are not seeing fresh all time high any time soon. So we have seen, selling at those higher levels in nifty as well as in bank nifty futures. Banking and real estate stocks were the major dragsters in this sell off. ... [Continue Reading]
M&M is trading at a resistance, Short sell opportunity exists
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]
Mcdowell-n is trading at trendline resistance, Selling is more likely
Stock has been the best out-performer in F&O stocks, as its has given more than 90% return in last 3 months. But as the monthly chart suggest me stock is near the trend line resistance which is around 1290 - 1300 region. So some selling in this stock is expected in the near term, also stock has shot up very sharply so some profit booking in form of selling will soon be seen. My trading ... [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 Bank of Baroda, Resistance at 722 Zone
Ban of Baroda has very strong resistance at 722 zone and will not be able to break above that zone easily, so advice will be short sell bank of Baroda around 720 for target as 700 and then 793 level, while placing stop loss orders at 730 level. It is positional trade and hence I recommend to take short positions on BANKBARODA June futures contract, entry and target levels are based upon cash ... [Continue Reading]