A man ought not to be led into trading by tokens. He should wait until the tape tells him that the time is ripe. As a matter of fact, millions upon millions of dollars have been lost by men who bought stocks because they looked cheap or sold them because they looked dear. The speculator is not an investor. His object is not to secure a steady return on his money at a good rate of interest, but to profit by either a rise or a fall in the price of whatever he may be speculating in. Therefore the thing to determine is the speculative line of least resistance at the moment of trading; and what he should wait for is the moment when that line defines itself, because that is his signal to get busy. ——-REMINISCENCES OF A STOCK OPERATOR
Axis Bank
Axis Bank has formed an INSIDE DAY pattern Big move can be accepted.Weakness can be any accepted only on close below 1098.
Sell below 1107 Tgt 1098,1088 and 1061
Buy above 1128 Tgt 1136,1145 and1164
Bata India
Bata India is forming Inverted HnS pattern with trendline breakout at 733. Stock Life time high is at 741.
Highly overbought on Daily charts with negative divergence but price should break and close below 686.
Sell below 686 Tgt 675 and 665
Buy above 713 Tgt 723 and 741
Future Cap
Future Cap is supply pressure at 150 yesterday volumes were quiet high.
Breakout above 150 odd levels can take the stock to 163 odd levels.
Buy above 150 Tgt 154,159 and 168
Sell below 145 Tgt 141,136 and 132