Always establish a stop. A successful speculator must set a firm stop before making a trade and must never sustain a loss of more than 10 percent of invested capital. I have also learned that when your broker calls you and tells you he needs more money for a margin requirement on a stock that is declining; tell him to sell out the position. When you buy a stock at 50 and it goes to 45, do not buy more in order to average out your price. The stock has not done what you predicted; that is enough of an indication that your judgment was wrong. Take sour losses quickly and get out. Remember, never meet a margin call, and never average losses. Many times I would close out a position before suffering a 10 percent loss. I did this simply because the stock was not acting right from the start. Often my instincts would whisper to me: “J.L., this stock has a malaise, it is a lagging dullard. It just does not feel right,” and I would sell out of my position in the blink of an eye. I absolutely believe that price movement patterns are repeated and appear over and over with slight variations. This is because humans drive the stocks, and human nature never changes. Take your losses quickly. Easy to say, but hard to do.
Maruti
Maruti is near its 200 DMA and trendline resistance, Break of 1170 will lead to 1190-1200 odd levels
Buy above 1170 TGt 1178,1189 and 1198
Sell below 1161 Tgt 1154,1146 and 1138
United Spirits
One way ride and now facing resistance at trendline.
Buy above 1004 Tgt 1014,1032 and 1061
Exide
Exide is near its trendline resistance.
Buy above 138.5 Tgt 140.7,142.8 and 145
Sell below 136 Tgt 133.6,132 and 131.6
Auro Pharma
Breakout trade in Auro Pharma, Need to see the follow up move today else the rally will fizzle out
Buy above 120 Tgt 121.5,124 and 126.5