Totka used in Idea is called Reverse Fibonacci
Using the previous leg & measuring its 138.2% gave us the top 11117 - can we get the top again at 11320- no confirmation yet so only risky traders to take sell in 11300-11320
Note - Going above 11320 ( Sell call is negated - close all sell positions & out)
Plan A - Sell below 11265 on closing...
We got a doji pattern on the nifty charts (daily) which indicates indecisiveness on the parts of the bulls and the bears and which indicates the present trend might take a breather. So it would be a good idea to sell on rise with SL of 11540 and targets of 11410/11350 for the short term.
All levels are Cash levels.
LIC Housing Finance is very likely to fall today. Stock was in downtrend from 18th January but, after taking a support at 433.5 stock reversed back and travel in a rally. Yesterday stock has given a doji candlestick pattern which suggests break in this rally and it is also proved by the increase in selling volume. So, from here it is huge probability that stock...