Trading Calls: Cipla, India Cements & Nestle No ratings yet.

(1) Cipla: A high volume sell off in last session and a weak closing suggest that the stock may show weakness in coming sessions.  The specific trading plan for the stock is as follows:

Technical pattern: Bearish Engulfing

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <603 620 593 582

(2) India Cements:  The stock has just started trading below its major support of 50-Day SMA which suggests weakness and a forthcoming sell-off. The supply in the counter is expected to increase below 173/- odd levels.

Technical pattern: Closing below 50 Day SMA

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <173 183 167 161

(3) Nestle India:  The stock is in an intact uptrend and every dip witnesses a surge of new buyers. For short term traders, the stock may again see good momentum above 7700/-  levels. The specific trading plan for the stock is as follows:

Technical pattern: EMA Crossover

Action

Trigger Price

Stop Loss

Target 1

Target 2

Buy >7700 7580 7790 7889

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Author: Traders' Chowk

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