Hello Friend, Did u made some good profit in last few days in stock market???
We were constantly saying from the last few days that Nifty is making double bottom and we did long in Nifty near 4940, we booked profit around 5380 on last Friday. As we said Nifty is making lower top and lower bottom since Jan 2011, bearish trendline as seen in Fig. 1, it had tested six times to this trendline which is
visible in chart. We guess some profit booking will happen near this trendline as it is strong resistance for Nifty.
Buy Call: Hindalco Industries
Hindalco had been underperformer recently, as you see in the following Fig. 2 it touched 120 levels in few days back and it is recovering like anything.
It had a gap-up opening on Friday and it has broken 50 DMA and EMA also.
Volumes were very high on Friday, some strong hands definitely entered in this stock. This stock is making lower top and lower bottom and it is in serious downtrend, will its trend reverse? It is a big question as if for now, but we trader must take some risk while trading in stock markets, so we guess to buy?
One can buy this counter near 138-140 level with strict stop loss below 134; target will be 160-163.
Happy Trading ....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
We were constantly saying from the last few days that Nifty is making double bottom and we did long in Nifty near 4940, we booked profit around 5380 on last Friday. As we said Nifty is making lower top and lower bottom since Jan 2011, bearish trendline as seen in Fig. 1, it had tested six times to this trendline which is
Fig: 1
visible in chart. We guess some profit booking will happen near this trendline as it is strong resistance for Nifty.
Buy Call: Hindalco Industries
Hindalco had been underperformer recently, as you see in the following Fig. 2 it touched 120 levels in few days back and it is recovering like anything.
Fig: 2
It had a gap-up opening on Friday and it has broken 50 DMA and EMA also.
Volumes were very high on Friday, some strong hands definitely entered in this stock. This stock is making lower top and lower bottom and it is in serious downtrend, will its trend reverse? It is a big question as if for now, but we trader must take some risk while trading in stock markets, so we guess to buy?
Fig:
One can buy this counter near 138-140 level with strict stop loss below 134; target will be 160-163.
Happy Trading ....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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