Trading Calls- Bajaj Finance, Berger Paint & IGL No ratings yet.

Nifty Trading tips

Trade Date- 23/05/2018

(1) Bajaj Finance: The stock has broken out of a resistance zone placed at 1900/- odd levels and is trading into an uncharted territory.  For fresh longs, the counter still looks good above the latest resistance of 2175.

Technical pattern: Volume breakout
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY
>2176
2125
2225
2270

 

(2) Berger Paint: The stock has been in an intact uptrend and the kind of open interest witnessed in today’s session suggest that that the upside momentum may still continue in May series

Technical pattern: OI increase+ Increase in price
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY
>295
287
302
336

 

(3) IGL: The stock has formed a rounding top pattern in daily charts , which suggest bearish outlook in the counter. The stock may be shorted below 253 odd levels for targets mentioned below

Technical pattern: Rounding Top
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<253
260
248
242

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

13 thoughts on “Trading Calls- Bajaj Finance, Berger Paint & IGL

    1. Hello Mitul,
      Buying a weak stock in a pullback rally is not a good idea, specially when the underlying indices also does not look that strong. The stock may gain some value above 57 odd levels, but in my opinion, it is not advisable to buy a weak stock.

  1. Madam m holding options 2200 CE Bajaj Finance @16.70 . It went very low today. M holding the position for tomorrow. Is there possibility it will bounce back tomorrow or should i book loss ??

    1. I had advised ‘buy’ on Bajaj Finance above 2176 levels, but it did not trigger today and the stock fell almost 3%. Now, the latest support for the stock is 2060, if the stock falls below this level, you may exit your 2200 CE position.

    1. Infosys is looking good. You may keep holding it if it crosses 1230 in May Series. Above this level, the stock may gather more momentum for upside.

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