Resistance_level
INFY: Coil BreakoutINFY in the intra-day charts gives a “COIL” breakout followed by a consolidation and then some follow-through rally. Consolidation of price is a common aspect once prices have moved sharply up or down, that is, travelled quite a distance within a short span of time. Psychological support and resistances are common in while numbers, which was the case here as well, when we realise that 1000 acts as an intra-day supply point for the stock.
Asian Paints: Below 1203...Paint looking bleakAsian Paints
Closing Price
1179.55
Look to sell closer to dotted trend line resistance around 1203 or Below 1175
Stock may fall to 1141 and below that 1105 levels
Strong resistance around 1230 odd levels
Take care & safe trading...!!!
NIFTY (W) Nifty has been galloping at a fast pace over the past few days . The steady support offered by the lower channle of the Pitchfork does augur well for the broader idex as a whole. However we note that the rise has now tread into 1.618 of the recent pullback and hence some profit booking may emerge. The best approach hence would be to book some profits if the Nifty does not hold the first 30 minute range for the day. WHile the prices are heading higher the momentum is heading lower thus cautioning us for the trends ahead. An interesting time in Nifty is unfolding in November.
Rcom going down the laneRcom
CMP 16.2
The stock is in down trend
trading below previous important low
suggesting further weakness
Trading plan
One may consider selling
RCOM November month Call option
Lot size 14000
Strike Price 17.5
Price 1.05
Margin requirement approximately Rs 45000 per lot
Profit potential till expiry Rs 14700 /- per lot
Trading in Futures & Options involves risk so do your risk management properly
Exit from strategy if RCom gives a close above 18.35 in Equity
Take care & safe trading...!!!
Dollar Index Weekly Supports proved to be quite determined in producing a strong recovery. However the rally now has tread into median line resistance and this could now hold back further strengthening next week and push the DX into a range until 94.30 is surpassed.
arvind looks bearish in short termprice reversed from downtrend channel resistance level. it should come down to the channel support level.
sl - 386.5, 1st tgt - 355.5, 2nd tgt - 345.
Note: this is not a short selling advice, as future trading is quite risky.
JSWSTEEL - BREAKS STRONG RESISTANCE It is been observed that the price action breaks above the important and strong resistance levels on daily chart indicating a buyers coming back and charging up and also taking control over price action. It shall further move up from current levels.
Target 214
SL: 208
