Relinfra near 560-550 demand levels also took bolinger support @567 on friday. Buy hear for investment purpose with SL below 550. Traders can buy with a put option as hedge to have better R.R
After a brief up trend Axis bank is in accumulation zone between 530 to 480 for more than two months, as we know no one can time the market but either way the breakout will be big.As the trend is bullish I am looking for a long trade in the following scenario,
Buy near 500 - 490 levels as per ones comfort with stop loss @478 for the target 575 R:R 1:3 and 1:6...
After rejecting channel resistance 3230 NIFTY Metals has been in reversal mode and reached channel support @2854. If holds this level for few days likely to resume the uptrend again. If acceptance below 2850 will be critical for longs
Tatasteel is near channel support 442 which is also the 50% retracement level of prev move from 377 to 508. If this holds it can resume its uptrend. Stop loss for this trade is any close breaking below the channel trend line which is @440
CMP 454 is not in a favorable R:R for me. Will wait and take trade between 448-445 levels with stop loss @440 on closing basis....
