Trading Calls- Ambuja Cement, Reliance Capital & Asian Paints No ratings yet.

Nifty Trading tips

Trade Date- 15/05/2018

(1) Ambuja CementThe stock has formed a  rounding top pattern on charts and is already trading below a major support level. The selling spree may continue below 215 odd levels and the counter may be used as a shorting opportunity for targets mentioned below.

Technical pattern: Rounding Top
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<215
220
211
207

 

(2) Reliance Capital: The stock has given a breakdown in the last trading session and the oscillator, Chaikin money flow further substantiate the weakness in the counter as it has already moved down to a negative territory.

Technical pattern: Negative CMF
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<383
395
376
370

 

(3) Asian Paints: Amongst all the mayhem created by the bleeding midcaps, Asian paints is one counter which is standing strong and looking bullish in short term. The stock is already trading at fresh highs and the momentum on upside is expected to continue in short term.

Technical pattern: Above 20-Day SMA
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY
>1306
1290
1318
1345

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Author: Traders' Chowk

9 thoughts on “Trading Calls- Ambuja Cement, Reliance Capital & Asian Paints

  1. Hello, Escorts is looking good for medium/long term investment. However, in short term , in may series the stock may experience some profit booking. If you are already holding a position, you may place stop loss@ 935 and hold your position.

  2. Mam I have Tata motor @ 360
    What is the next support label of Tata motor please advise

    1. Tata Motors is looking weak and the next support level is at 305 odd levels, below which the stock may experience another sell -off.

    1. Wipro may be shorted below the immediate support level of 268/267 for short term targets 256/261

  3. Hello Dr.Priyanka, is it a good idea to short CESC…looks like it could not sustain high levels today with markets going into a correction mode after the recent up

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