DLF
DLF has been bouncing from Fibo Channel support from last 5 times.Above is 4 hour chart of DLF and 222-225 has provided support and lead to bounceback till 250 odd levels.
Buy above 234 Tgt 237,240 and 244 SL 231.5
Sell below 230 Tgt 227.5,223.5 and 219 SL 232
Tata Motors
Telco achieved the target on downside as it was unable to close above 301 level which was downward facing trendline.Stock is near an important support level of 285, Unable to hold it fall till 274 can be seen.
Buy above 288.3 Tgt 291,294 and 297 SL 285.5
Sell below 284 Tgt 282,278.5 and 274 SL 285.5
RCOM
Rcom is having one hell of an upmove, stock double in 25 trading sessions trading in a perfect uptrending channel.Rise on Friday was backed by highest volume in recent time, which in technical terms is knows as Volume Climax . Inference of volume climax lead to top or bottom making formation. So if 112 is not crossed and stock trades below 108 pullback can be seen in RCOM.
Buy above 112 Tgt 113.4,116 and 118 SL 110.3
Sell below 108.5 Tgt 106,104 and 101 SL 110.3
For the reference of readers the performance sheet for the Month of April/March Expiry has been updated, can be accessed from http://tradingsystemperformance.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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