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ITC : Smoking Hot...Sometimes I get queries as Why not exact stops or target ? It will be more helpful for Us. Guys, i) I don't know your capital ii) I don't know risk ability you can afford iii) I don't even know which trade setup or strategy you use to enter the trade on what timeframe iv) I don't know how long you can hold the trade ( Intra or swing ) v) I don't know you are conservative or aggressive trader So with these many Don't knows on My side, its better to give directional clue & approx zone, Hope you guys agree :)
NSE:ITCLong
by InsiderB
29
Colpal In Red Due To PatanjaliOutlook : After posting a 52-week high of 1049, on 04th May 2017, stock witnessed profit booking in the last trading session, resulting into a “Bearish Engulfing” candlestick pattern, erasing all previous day’s gains. This pattern is formed generally at the end of an uptrend, or near a potential resistance and is a reliable reversal pattern Moreover, we also observed “Bearish Divergence” where prices continue to form higher highs while oscillator (in this case an RSI) is forming significantly lower highs (indicating weakness in the trend.) Technical indicators are currently giving negative signals as the stock trades below the short term (21 day EMA). Slow stochastic is in overbought range with a value of 80.07, Macd is marginally weak. Stock posted a weak close for the week, below its monthly pivot levels, which suggest a push downward to the next support levels. Combining the above technical evidences, we expect further downside for the stock prices and therefore recommend to sell this stock at (price range of 1020-1010 with an downside price target of 953-926. Strict stop loss should be placed at 1063 above which the bearish view will be voided.
NSE:COLPALShort
by BHUMIT-ARQ