Reliance Capital
Reliance Capital Stock was unable to cross the Fibo fans and also price got rejected near 200 DMA.Stock has seen a correction till 365 which a very important support level.Any close below 364 will give a swift correction till 343 odd levels. Close above 377 gives short term target of 411.
Buy above 373 Tgt 377,384 and 389 SL 370
Sell below 364 Tgt 357,351 and 343 SL 367
Allahabad Bank
Allahabad Bank has been falling like 9 pins from the high of 180 till low 74 in matter of 28 weeks. More than 50% wealth destruction.Stock can further see a correction till 60 odd levels. Positional longs should be take only on close above 81 for short term target of 89.
Buy above 77 Tgt 79,82 and 84 SL 75.7
Sell below 73 Tgt 71,68 and 63 SL 75.5
IDFC
IDFC has been under pressure the day it closed below 131 as discussed in last post.IDFC if it break 110 on closing basis stock is heading down till 97 in short term. Positional Longs only on close above 131.
Buy above 116.7 Tgt 118.5,121 and123 SL 114.7
Sell below 113.5 Tgt 112,110 and 105 SL 114.7
Stock Performance Sheet for the Month of June is Updated @http://tradingsystemperformance.blogspot.in/ Net Profit for the month of July is 1.93 Lakh
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