TradersVenue

#CoalIndia may test 194/196++ levels if trades above 190. SL#185 on 15M candle closing basis.

Trading below 360 #ZEEL is likely to test 355/352-- levels. SL# 368. View negated above 370.

Trading above 710, Grasim can test 715/723++ in intraday or 1-2 days time. SL 702 in 15M candle closing basis.

ONGC had shown good character in a falling market. Last 30 minutes candle shows huge volume addition. Trading above 124; Stock is all set to test 126/128/130++ levels.

RSI falling in downward trajectory. After a long consolidation it has given breakout on downside with LH-LL on daily charts for continuously 3 days. Closing below 1435 it will open downside targets of 1395/1360/1345--

Cipla is in the verge of ascending triangle breakout. Recently high volume buying is seen as well. Breakout will be confirmed above 468 levels; above which stock may test 484/500+ levels.

With PMO showing interest to intervene in the market sell offs and FPI concerns and China giving hints to discuss with US to ease the tariff war; market may get some relief rally in coming times. Even if market doesnt rally immediately it will take a pause and sell off may stop. Those who feel market will trade above 27300 can create below spread for 2.75L cost....

RBLBank had a decent correction from its high 716.4. Stock almost tested its major support level of 438-444 and gave a bounce back. Stock displaying symptoms of early signs of reversal. Stock has potential to go upto 495/527/553 retracement levels. However it may be a time taking journey. Looks good to deploy below strategy with breakeven of 418-529.8. Till 400 it...

#BajFinance looking bullish on 45M charts. Stock had a strong recovery on last session. Stock made bullish engulphing kind of pattern on daily scale. Stock if trades over 3275 then further short covering may be expected. However going long at current stage requires to maintain a closing stoploss of 3000. And on upside it may test 3400/3500 in near to short term....

#BajajFinserv looks bullish on 45M charts. RSI surpassed 60 mark. On daily scale it has formed bullish engulphing kind of pattern. If it trades over 7300 then it has all probability to test 7415/7600/7900. But stoploss will be nearest SPL which is 6631. Trade is not favourable for equity or futures trades. Instead create a bull call ratio spread. -2x 29AUG2019 ...

#BajFinance looking bullish on 45M charts. Stock had a strong recovery on last session. Stock made bullish engulphing kind of pattern on daily scale. Stock if trades over 3275 then further short covering may be expected. However going long at current stage requires to maintain a closing stoploss of 3000. And on upside it may test 3400/3500 in near to short term....

Ashokley looking good to buy after long long time. Since its trading its 52 week lows instead of going long in the stock a bull call spread can be created for August expiry. +1x 29AUG2019 72.5CE - ₹ 5 -1x 29AUG2019 80CE - ₹ 1.7 Max. Profit ₹ +25,200 Max. Loss ₹ -19,800 Breakeven 75.8 PayOff: bit.ly If stock keeps falling below 70 then...

Bankbaroda took trendline support and bounced back in previous session. Stock has undergone a decent correction and showing early symptoms of recovery. Mean reversion traders can initiate a risk defined bull call ladder at current stage. +1x 29AUG2019 115CE - ₹ 4.3 -1x 29AUG2019 125CE - ₹ 1.5 -1x 29AUG2019 130CE - ₹ 0.85 Max. Profit ₹ +36,225...

Asianpaint had a very good rally. Its time to do a mean reversion trading with option strategies with upper breakeven as 1575. If it moves up would require some adjustments. Downside is protected till 1347. If it falls then keep rolling down CE one by one. +1x 29AUG2019 1500CE - ₹ 34.6 -1x 29AUG2019 1520CE - ₹ 26.4 -1x 29AUG2019 1540CE - ₹ 19.05 -2x ...

ZeeL buy view was given in the telegram channel with technical details. It has already rallied 15 points. Now its getting ready for a big upside probably 394/440

Infy is trading near the upper band of its trendline resistance on monthly scale. In 2H scale RSI has gone below 60 indicating fresh weakness in the stock. This might be to profit booking pressure at higher levels. Todays attempt to break 800 was proved to be a false breakout and stock saw good selling with volume. One can go long with 790 August PE for 15 with...

Ultratech Cement is up for a bearish move towards 4375/4200/4050. Stock is making LH-LL and weekly charts have generated a bearish crossover. So timeframe may be longer and quicker results not expected. RSI on weekly scale have fallen below 60 mark. One can trade with a bear put spread for August expiry instead of shorting futures directly. Planning to deploy...

Wipro buyback offer is open and it may gain momentum in sometime. Good time to create a net credit bull call ratio spread for August expiry. +1x 29AUG2019 275CE - ₹ 3.9 -2x 29AUG2019 285CE - ₹ 1.75 Max. Profit ₹ +11,520 Max. Loss ₹ Undefined Breakeven 0-294.6 Estimated Margin₹ +100,850 PayOff: bit.ly