Bata,Biocon and Zee Technical Analysis for short term

Bata India

Bata India has been respecting the fibo fans level and stock has broken the 3X8 line of fibo fans with bearish engulfing pattern.Break of 892 can lead to further weakness in stock till 843 odd levels.

Buy above 904 Tgt 915,923 and 932 SL 895

Sell below 892 Tgt 882,870 and 850 SL 903

Biocon

Biocon after crossing the resistance of 306 tried to move higher but price got rejected at higher levels in range of 314-315 as shown in circle. Any break below 306 levels will make the stock correct to 288-290 odd levels.

Buy above 309.2 Tgt 312,315 and 318 SL 307

Sell below 306 Tgt 304,301 and 295 SL 308

Zee Limited

Zee has been a range bound stock in range of 235-251.trading is within two important FF number of 233 and 254. Any close above or below the 254 or 233 gives short term target of 267 and 220. Results are today so expect some good move.

Buy above 246.5 Tgt 248.5,251 and 254 SL 244.5

Sell below 241.5 Tgt 238,235 and 233 SL 244.5

Stock Performance Sheet for the Month of June is Updated @http://tradingsystemperformance.blogspot.in/  Net Profit for the month of June is 1.55 Lakh

• 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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