Trading Calls- Allahabad Bank, Oriental Bank & Bharti Airtel No ratings yet.

Nifty Trading tips

Trade Date- 14/05/2018

(1) Allahabad BankThe stock has  formed a  distribution pattern on charts and is already trading on the verge of a breakdown. The selling spree may continue below 45 odd levels and the counter may be used as a shorting opportunity for targets mentioned below.

Technical pattern: Head & Shoulders Pattern
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<45
47
43
38

 

(2) Oriental Bank : The stock is already trading below 50-Day SMA which indicates bears ruling the counter. The momentum indicator, MACD has also given a bearish crossover and has moved below the zero centre line, in a negative territory which further substantiate the bearish sentiment ruling the counter, in short term.

Technical pattern: Bearish Crossover- MACD
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<81
84
76
71

 

(3) Bharti Airtel: The stock  has already been suggested a sell in May series and it seems, the downside momentum may further continue in this series. The stock may be shorted below 383 odd levels for targets mentioned below.

Technical pattern: Below 200 Day SMA
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<383
390
376
365

Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser  before taking any investment/trading decision. We hold no financial liability to any user on account of use of information provided on this website.

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Author: Traders' Chowk

8 thoughts on “Trading Calls- Allahabad Bank, Oriental Bank & Bharti Airtel

  1. Pl advice about united bank of India since price is very low i.e 12.35 is it worth buying at this rate I will hold about 5 years.

    1. In my opinion, it is not the right counter to invest for a 5 year time horizon. Not all stocks that are cheap and have fallen to lower levels, come out as great investments.

    1. PSU banks are still looking weak and it may be not a right time to invest in these stocks as there is more downside in these counters. Union Bank is looking weak and below 83 odd levels, the stock may witness another 10-15% fall.

  2. M&M may experience some profit booking in short term, below 850/- odd level, and the stock may shed some 2-3% , but thats not a downtrend. The stock still looks good for medium/long term investment.

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