Daily chart making Lower Highs, expecting more downward momentum for September series.
Trade Plan :-
- Only consider shorting/buying put options if close below 1400.
- If above condition satisfied, Buy 1350 put option for September expiry (CMP 45). Target - 57 / 66 / 70.
- Keep SL if daily close of spot above 1450.
- View negated if price closed above 1450...
SunTV is trading at a very important level of 440 and any breakout downside could easily lead to levels of 400 and further to 384, Upper Band Resistance is placed at 460 above which bulls will gain some strength and can take it to higher levels, but current market trend shows the trend as down. Trade safely and consult your financial advisor before trading.
Reliance Industries has been in a uptrend for a very long time. The stock has been consolidating at a strong support zone for more than a month and is now broken.
However, its important to confirm support on the broken side of the triangle and then enjoy the LONG ride!
NIFTY closed on the weekly chart with a DOJI indicating indecision in the market along with the classical double top pattern. If the level is not breached, there can be minor correction in the market.
A symmetrical triangle was spotted, however the breakout could pass the 3% closing test and hence no trade.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Tata Consultancy Services which is famously known as TCS stock, has formed bullish harmonic pattern on daily chart. May test 2550-2600. Support seen at 2420.
Very good bounce back from recent correction. Closed at 400 on 11th August Friday. May test 420-450 levels , Closing basis support should be seen at or below 398.
NLC India Ltd
15.5.2017
Trade
Company Profile:
NLC India Ltd. is engaged in the mining and exploration of lignite and generation of thermal power in India. The company owns opencast mines and thermal power stations. It supplies power to diverse industries such as electricity boards, cement companies and paint companies, in addition to other...
