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Biocon: Short & Medium term trading plan and idea Biocon Closing Price 628 - The stock is at important levels and we try to analyse different possible scenarios and how one can plan their trade. - we are looking at 4 possible situations and accordingly one can plan their Trading strategy:- Situation 1 - In case of dips look to buy in the zone of 618-607 levels for target of 662 / 682 initially. - pattern gets invalidated if closing is below 600 on weekly closing basis ----------------------------------------------------------------------------------------------------- - In the extreme short term 637-642 may be the deciding level. Trading below the said levels will keep the possibility of dips alive. ------------------------------------------------------------------------------------------------------- On rise those who can take some risk look for selling opportunity in the 635-640 zone with strict SL at 642 and target of 618 / 612 & then reverse the trade at lower levels to go long --------------------------------------------------------------------------------------------------------------- Situation 2 - In case the stock goes higher above the said levels of 637-642 buy with a small ticket size for target of 662 / 682 Situation 3 - the stock continues to rise higher. 696-710 will be an an important defining zone to watch out for. Sustaining above that on weekly closing basis will open up doors for further up movement towards 810 odd levels in medium term. Once it goes above 710 The stock should not come below 677 thereafter. Scenario 4 The stock falls Below 605. This may turn the counter bearish and may open doors for slide towards 561 / 528 levels. However this could be a tricky situation. There could be chances of false breakdown. So need to be careful on this one. In case of breakdown look for other confirmation points like volume, derivatives insights. - Safe strategy could be to look to trade the counter after analyzing the behavior on pullbacks. A weaker pullback and inability to cross 620 levels could be ideal situation to go short with minimum SL - In case the pullback is stronger and conquers 620 odd levels with higher volumes , you know what that would mean... All the best & safe trading...!!!
NSE:BIOCONLong
by indiamarketoutlook
Rel Capital: Bottom fishing or trying to catch falling knife...Rel Capital Cmp 129.50 The stock has taken a lot of beating not just in the last couple of days but for a year or so.... It is difficult to say whether it can be considered bottom fishing or if we are trying to catch a falling knife. That only will be answered in future with hindsight in perspective. So for decision making today so far as the green trendline holds we can look for target of 144 / 151 / 162 / 188. Trade cautiously Take care and safe trading...!!!
RLong
by indiamarketoutlook
MGL Showing signs of strength MGL CMP 905 In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919 Looking at the charts again we observe - price action holding on to the gap zone between 902-868 - 20 day EMA crossover above 50 day EMA in late November- early December 2018 - thereafter re-test first at 50 day EMA and now we see price holding above 20 day EMA on 2 occasions Given the set up one may consider to buy at cmp and on dips towards 888 for target of 933 / 965 / 1034 levels SL if closing below 865 In case u LIKE the idea and find the analysis helpful do HIT the LIKE button and FOLLOW to get regular updates from us. Take care & safe trading...!!! -------------------------------------------------------------------------------------------------------------------------------------------------------------------
NSE:MGLLong
by indiamarketoutlook
BPCL chart viewBPCL CMP 326.85 One may consider to buy at CMP and /or on dips towards 320. Momentum might be seen above 335-338 zone. Target for the current setup 360/372 Keep a Stop loss if closing is below 315.5 Alternatively one may consider the following FNO strategy Sell BPCL 320 PE Lot size 1800 CMP 11.5 Max profit potential Rs 20700 if stock stays above 320 on 27 Dec 2018 Loss if stock is closing below 308.5 on December expiry day. Take care and safe trading...!!!
NSE:BPCLLong
by indiamarketoutlook
Adani Gas hits the JACKPOT... Locked in 10% UPPER CIRCUIT...!!!Adani Gas CMP 105.80 On a day like today when Nifty is struggling, Adani Gas is up 10% What this reflects is 1 Every chart can have its own story.... & 2 We always hear "No one can time the market..." .Sure... There is no denying... Adani Gas took 6 days to break free... But when it did today... The result is infront of us. so if you are following levels identified with the help of Technical Analysis, you can surely be in a better position to manage your risk and when time comes you can certainly make the most of it.... Time, Patience and Discipline is all that Technical Analysis asks from us. Think about it... Charts do try to tell us a lot... Question is Are you willing to listen, learn and make the most from it..??? Take care and happy trading...!!! Do hit the LIKE button...!!!
AEducation
by indiamarketoutlook
Jet Airways: Will it rise again...???Jet Airways CMP 275 In the current set up stock has the potential to rise up to 360 / 400 levels. Important for the stock not to breach support at 260-266 zone. At current levels the stock provides good risk:reward ratio to go long. Be cautious & exit Below 258 as that will indicate risks of stock going down to even 220-196 levels. Take care & safe trading...!!! P.S : You can find Previous updates on Jet Airways in the links below
JLong
by indiamarketoutlook