IGL
Positional View: The stock is facing a major hurdle at 188.
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Bullish Breakout: If the price manages a confirmed daily close above 188 , technical charts suggest the trend could extend towards the 196 zone.
Intraday Scenarios: For today’s session, the price action revolves around the breakout or breakdown of the current consolidation range.
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Strength (Upside): A sustained move above 187 indicates fresh buying interest. In this case, the immediate resistance levels are 188.6, 190.59, and 192.4.
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Support/Invalidation: This positive structure technically weakens if the price fails to hold 185.5.
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Weakness (Downside): Selling pressure may intensify if the price slips below 183 . The next support zones to watch would be 181.2, 180, and 178.
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Resistance/Invalidation: This bearish view is negated if the price reverses and reclaims 185.
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M&M
Positional Outlook: The stock is approaching a key resistance level at 3630.
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Breakout Scenario: If the price registers a daily close above 3630 , technical indicators suggest potential upside movement towards the 3729 zone.
Intraday Key Levels: The price is currently consolidating. Watch these pivot points for direction:
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Strength (Upside): A sustained move above 3610 indicates bullish momentum. If this holds, the next resistance levels to watch are 3630, 3666, and 3700.
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Support/Invalidation: This setup technically weakens if the price drops back below 3600.
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Weakness (Downside): Selling pressure typically intensifies below 3590 . A breakdown here could see the price test lower supports at 3570, 3535, or 3500.
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Resistance/Invalidation: This negative view is negated if the price reclaims 3605.
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REC LTD
Positional Technical View: The stock is currently testing a critical support zone. On a closing basis, 343 acts as a major make-or-break level.
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Bearish Scenario: If the price gives a confirmed close below 340 , the chart structure weakens, potentially opening room towards the 330 demand zone.
Intraday Key Levels to Watch: For today’s session, the price action is poised between immediate resistance and support.
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Strength (Upside): Momentum is likely to pick up if the price sustains above 343 . In this scenario, the next resistance levels to watch are 346, 349, and 351.
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Invalidation Level: This bullish view weakens if the price dips back below 341.5.
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Weakness (Downside): Immediate pressure is visible below 340 . A breakdown here could see the price drift towards 337, 333, or 330.
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Invalidation Level: This bearish setup typically negates if the price reclaims 342.
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All prices relate to the NSE Spot/Cash Market
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Calls are based on the previous trading day’s price activity.
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Intraday call is valid for the next trading session only unless otherwise mentioned.
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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.
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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.