Pattern Trading:BHEL,United Spirits and Federal Bank

BHEL

BHEL is forming an triangle formation signalling an explosive move round the corner. Positional traders can buy above 131 for target of 138 and 144. Failure to close above 131 will take stock back to 123 odd levels.

Intraday Traders can use the below mentioned levels

Buy above 128.5  Tgt 131,134 and 138 SL 127

Sell below 124.5 Tgt 122,119 and 116 SL 125.5

Federal Bank

Federal Bank has fallen below its downtrending channel and is trying back into the channel. Trading above 246 will give intital target of 254, Any close above 254 will be super bullish and giving positional target of 267. Any break below 241 gives short term target of 238 and 233.

Intraday Traders can use the below mentioned levels

Buy above 246 Tgt 250,254 and 261 SL 244

Sell below 241 Tgt 238,233 and 229 SL 244

 

United Spirits

United Spirits is forming an triangle formation signalling an explosive move round the corner. Positional traders can buy above 2360 for Target of 2440 and 2495. Any close below 2350 gives target of 2207 in short term.

Intraday Traders can use the below mentioned levels

Buy above 2360 Tgt 2387,2420 and 2460 SL 2340

Sell below 2332 Tgt 2310,2283 and 2255 SL 2350

 

 

 

Stock Performance Sheet for the Month of September is Updated @http://tradingsystemperformance.blogspot.in/  Net Profit for the month of Aug is 1.89 Lakh and Sep Month 52.7 K

 

Readers can see the Positional Trades performance  http://positionalcallsperformance.blogspot.in/

 

• All prices relate to the NSE Spot
• Calls are based on the previous trading day’s price activity.
• The call is valid for the next trading session only unless otherwise mentioned.
• Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
• Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

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