indusind bank long (positional)indusind bank positional long entry price 1128 , stop-loss 1017, target price 1598
NOTE : CONSULT WITH YOUR TRADING ADVISER BEFORE TAKING ANY TRADING DECISION.
Positionalcall
!! NIFTY WEEKLY CHART SHOWING EXHAUSTION !!NIFTY WEEKLY CHART SHOWING EXHAUSTION
NOTE:-
VIEW IS ONLY FOR TRADERS WILLING TO BEAR THE RISK
IT IS NOT A TRADE SUGGESTION FOR FUTURES TRADE
TRADE MIGHT CREATE TRADES IN OPTIONS SINCE IT WILL LIMIT THE DOWNSIDE
VIEW:-
RSI HAD GONE BELOW 25 TODAY FOR THE FIRST TIME SINCE OCT 2008
MACD MOMENTUM BAR IS -227 WAS EVEN BELOW
THAT BUT MANANGED TO COVER
+200/-200 ARE CONTRA ZONES/REVERSAL ZONES
EXHAUSTION IN PRICE MOVEMENT IN THE INDEX IS VISIBLE 9950 IS A WEEKLY SUPPORT ACTED AS TRAP
MY VIEW ON LEVELS
NIFTY BOUNCE EXPECTED
10490
10930
THAT IS STILL 1000 POINTS FROM CURRENT LEVELS
STOP LOSS WILL BE OPTION PREMIUM APRIL CONTRACT IS BETTER TO AVOID VOLATILITY DECAY AS IT IS EXPECTED IN COMING WEEKS
(ANOTHER REASON FOR MARKET REBOUND)
!!POSITIONAL LONG IN ITC!!POSITIONAL LONG IN ITC
VIEW
-STRONG REVERSAL FROM MAJOR SUPPORT LEVEL
-RSI REVERSAL FROM OVERBROUGHT ZONE
-POSITIVE MOMENTUM IN STOCK
TRADE VIEW
DEC FUT
BUY@242
STOP@236
TARGET 1@248
TARGET 2@253
LOT:2400
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
Berger Paints: Triangle BreakoutBerger Paints has been consolidating in the form of a triangle ever single its long uptrend phase.
This triangle now appears to be broken. It certainly looks like a good time to join the 'LONG' ride!
Larsen and Turbo: Uptrend EntryLarsen and Turbo stock has been in a nice and long uptrend for months now.
The stock now has reached the support zone of this uptrend. Its certainly a nice opportunity to make use of reversal from this support zone and enjoy the 'LONG' ride.
Engineers India: Triangle breakoutEngineers India has been on a down trend since December 2017. This stock has been consolidating for months in the form of a triangle and has now finally broken out. Its certainly worth timing your entry for a SHORT ride.
VEDL: Symmetrical Triangle Breakout!Vedanta has been in a down trend for about a year and half. This stock has been consolidating in the form of a symmetrical triangle which now appears to be broken. It does look like a good opportunity to join this SHORT ride!
Torrent Power: Pennant Breakout!Torrent Power, NSE has been in an uptrend for more than 3 years.
Following this uptrend, the stock has been consolidating for more than a year in the form of a pennant.
The Pennant now appears to be broken significantly!
Its certainly worth checking for the right entry point and then enjoy this LONG ride!
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SRTRANSFIN (Shriram Transport Finance Company) SELL BELOW 1060SRTRANSFIN (Shriram Transport Finance Company) SELL BELOW 1060
Making a falling triangular pattern, breaking the lower trendline will have more selling pressure.
GAIL India Limited: Pennant BreakoutGail India has been consolidating from an uptrend for more about 10 months now forming a pennant.
This Pennant has been broken last week. Its certainly worth checking the breakout is sustainable and then join the LONG ride!
V-Guard: Pennant Breakout!V-Guard Industries has been consolidating from an uptrend for more than a year forming a Pennant.
This Pennant now appears to be broken. Its certainly worth waiting for confirmation of this breakout and then enjoy the LONG ride!
Engineers India : Triangle breakout!Engineers India has been in a down trend since December 2017. After consolidation of several months forming a triangle, the stock finally appears to have broken out today. ITs certainly worth checking this breakout is sustainable and then join the LONG ride!
Positional Buy - InvestmentStock had underperformed the index since last 10 years and was consolidating between 320-150 range. Finally, stock has given a multiyear channel breakout above its crucial resistance zone of 320-350 with volume. RSI on weekly charts have crossed 60 mark indicating bulls are in power. Weekly closing above 350 mark is indicating that SBIN is getting ready for a decisive up move. New government is likely to work on financial reforms and the PSU major is likely to outperform in coming years. Government and RBI is strongly acting to recover bad loans and reduce NPA. Going forward stock may seen more buying momentum. Long term investors may think of having this PSU major in their portfolio with 1-2 year outlook. Hedgers may apply covered call approach for assured 2.5-3% monthly return. Swing traders may apply bull call spread for June series.
L&T: Rectangle Breakout!Larsen and Toubro has been consolidating sideways for about a year and half forming a rectangle pattern.
This pattern is finally broken last week. It snow time to enjoy this LONG ride!
Happy learning!
HERO MOTOCORP: Wedge breakoutHero MotoCorp has been in down trend for the last couple of years. It has been consolidating at a strong support zone forming a wedge over the last 4 months.
The wedge is now broken. It is certainly worth confirming the breakout is sustainable and then join the LONG ride!
Positional Buy if green candle on MondayCMP: 286.85
T1: 300
T2: 310
SL: 275
Operate with trailing stop loss.
