“Strategies don’t make money – people do. I have taught the same strategy to hundreds of people, all of whom have achieved different levels of success .What is the difference? The person!”
Godrej Indutries is trading in Horizontal channel, trading in the range of 332-283. Stock is also near its 200 DMA which is at 276. Horizontal Channel best trading stratergy is Buy Support and Sell Resistance till breakout or breakdown occurs.
Buy above 287 Tgt 290,296 and 299 SL 285
Sell below 283 Tgt 281,278 and 276 SL 285
Welspun had a panicky fall yesterday falling below its important support of 64 as show in above chart but recovered and closed at 66.8. Stock traded at life high volume.If 56 is held for this week stock has formed a short term bottom and recovery and base making process should start.
Buy above 69 Tgt 70.1,73.2 and 75 Sl 66.8 (High Risk Trade)
Sell below 66 Tgt 63,60 and 56 Sl 69
HUL took resistance at upper end of Fibo Fans, pulled back till the lower end of trading range at 450. Breaking 447 on closing basis more downside is visible till 400 odd levels.
Buy above 453 Tgt 456,458 and 461 SL 450
Sell below 446 Tgt 441,437 and 434 SL 448