Intraday Stock Trading:SBI,Canara Bank and Tata Motors

By | December 28, 2012 7:59 am

Opportunity does not travel on any schedule, you have to watch for it

Trader’s job is to wait for an opportunity that can deliver explosive profits. Hence, this is a business of patience (waiting for a good opportunity). Few good trades in a month are all that one needs to make big bucks. Trying to trade every small move (read overtrading) only leads to underperformance, frustration and stress. The goal is not to trade often but trade well.

Trader needs a different mindset for this – Patience, and Boredom

Tata Motors

Tata Motors

Tata Motors gave a breakout above 287 as discusses in previous post, rallied till 314 which was trendline resistance and pulled back. Stock is trading in its channel breakout comes either above 315 or breakdown below 303.

Intraday and swing  traders can use the below mentioned levels:

Buy above 310 Tgt 314,318 and 322

Sell below 304 Tgt 300,295 and 292


Canara Bank

Canara Bank

Canara Bank is near its resistance and supply zone of 492.This is 3 time stock is unable to break the 492 level. Unable to break pullback till 475 can be expected.

Buy above 493 Tgt 496,500 and 505

Sell below 485 Tgt 480,478 and 475



SBISBI took support at 2323 and bounced back, Now Litmus test for SBI at 2400 levels. Unable to cross pullback should be expected till 2320.

Buy above 2403 Tgt 2417,2437 and 2450

Sell below 2382 Tgt 2368,2348 and 2333

Levels mentioned are Spot Levels. Keep Sl of 0.5-1% based on your risk profile

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