Macdcrossover
POSITIONAL LONG TRADE IN PUNJAB NATIONAL BANK (PNB)/!!(FUT)!!POSITIONAL TRADE IN PNB
VIEW:-
:-WEEKILY TRENDLINE IS ABOUT TO BE BROKEN
:-MOMENTUM GAIN IN RSI
:-POSITIVE CROSSOVER ON MACD
:-ABOUT TO BREAK ITS 20-WEEKLY -EMA
TRADE IN FUTURES NOV CONTRACT
BUY@67
STOP@60
TARGET 1@75
TARGET 2@84
LOT:7000
QTY:2
!!CANARA BANK ON THE WATCH!!TECHNO WATCH
CANARA BANK IS LOOKING GOOD FOR A POSITIONAL TRADE AS RSI HAS REVERSED FROM OVERSOLD ZONES WITH STRONG FORCE AND MACD IS ON THE VERGE OF A POSITIVE CROSSOVER
RESISTANCE IS NEAR 210-214 WERE ONCE TAKEN OUT WILL LEAD TO RE-ENTRY INTO THE CONSOLIDATION ZONE OF 213-293 SO GOOD POTENTIAL RETURNS AHEAD
!!WATCH OUT!!
!!FOR TRADE CALL!!
!!PLEASE NOTE TRADE WITH CAUTION AND AT YOUR OWN RISK PROFILE!!
!!PLEASE DON'T OVER TRADE!!
!!LIVE TO FIGHT ANOTHER DAY!!
!!HAPPY TRADING!!
Sell RELIANCE - end of 5th wavesell if crosses below - 1322
RSI crossing below 70
MACD cross
TGT 1 - 1285
TGT 2 - 1270
TGT 3 - 1255
SL - 1345
Sell ALBK ALBK has a strong resistance at 55
RSI sliding from overbought zone
MACD crossover
Short for a target of
TGT 1 -52.5
TGT 2 - 50.25
SL - 57.5
MOMENTUM TRADE IN HPCL/HINDPETRO APRIL (FUT)MOMENTUM TRADE IN HPCL/HINDPETRO
APRIL FUT
SHORT@267
STOP@272
TARGET@257
LOT:2100
QTY:2
Short VOLTASRSI crossing below 70 and MACD crossover
Sell if crosses below 595
TGT 1 - 584
TGT 2 - 575
SL - 614
Nifty likely to reverse in upcoming weekNifty has gained around 9% in one month and it is very likely that it may reverse.
RSI and MACD have also shown a signal of reversal.
Short nifty for a target of
TGT 1 - 11390
TGT 2 - 11330
TGT 3 - 11250
SL - 11650
Sell Bajaj FinanceEMA 8, 13 and 21 crossover
MACD cross
RSI sliding below 70
sell if crosses below 2835
TGT 1 - 2800
TGT 2 - 2770
BTST IN RELIANCE JAN (FUT) BTST IN RELIANCE
JAN FUT
BEARISH TRENDLINE BREAKOUT ON THE UPSIDE
RISING OI
WILL LEAD THE NIFTY BREAKOUT
SYMMETRICAL TRINANGLE ON HOURLY CHART
BUY@1130
STOP@114.5
TARGET 1@1150
TARGET 2@1175
LOT:500
QTY:2
BankNifty Bearish ViewBankNifty after a long rally from 24244 levels to 27754 looking week at higher levels. It has broken the trendline and showing bearish divergence/crossover as per stochastics and MACD on daily charts. Considering the risk reward ratio its a perfect juncture to remain on short side in BankNifty (sell on rise). Obviously hedge your positions to safeguard your portfolio. I would recommend to create a covered put which can be rolled up or averaged if it moves up higher which seems unlikely. Maximum banking heavyweights are trading near their highs and showing weakness too. Today BNF may see some retracement and technical pullback. Aggressive traders may employ the covered put if they see BNF at higher levels.
