Trading Calls: Glenmark, Mahindra & Mahindra & Exide Industries No ratings yet.

Nifty Trading tips

Trade Date- 08/05/2018

(1) GlenmarkThe stock is trading below its 200-Day SMA and 50-Day SMA, the inherent weakness is further supported by the string of profit booking sessions in the last few days. The counter is expected to witness further supply below the break of latest support zone placed at 520-522.

Technical pattern: SMA Crossover
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<521
528
514
505

 

(2) Mahindra & Mahindra: The stock has been showing bullish momentum since last few series and the momentum indicator MACD and directional indicator ADX still show strength in the underlying uptrend.

Technical pattern: ADX>25
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY
>889
872
898
913

 

(3) Exide Industries: In last trading session, the stock has given a price and volume breakout from the latest resistance placed at 250/- odd levels. The bullish momentum is expected to continue in short term and the stock may  be bought above 266/- odd levels for targets mentioned below.

Technical pattern: Price Breakout
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY
>266
260
270
276

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Author: Traders' Chowk

16 thoughts on “Trading Calls: Glenmark, Mahindra & Mahindra & Exide Industries

    1. Hello,
      Biocon is in a profit booking mode and may be bought above 635 odd levels. Mahindra Finance looks good above the resistance of 520 odd levels.

    1. Hello,
      You may hold the stock, as of now as the stock may witness higher levels in medium term

    1. In my opinion, you shall avoid trading PCJ , as of now. Wild swings on both sides with unusual volume makes the counter very risky to trade.

    1. Thanks.
      Escorts is a counter which is in an intact uptrend and looks good in short/medium term. May be bought above 995 odd levels for 10-15% upside move.

    1. The calls suggested in my website are short term trading calls with intended holding period 1-10 trading sessions.
      Regarding paid advisory, am not taking fresh registrations, as of now.

  1. Mam
    I have buy union bank option PE 80 @ 2.4 now it is 1.7
    What is your view on this
    Can I hold this for 2-3 days or exit

    1. Union Bank is looking weak, so, in a way buying a PE looks logical, however, the movement of put option is determined by not only price, but also by time, volatility etc.

      You may hold your position placing a stop loss@93 in cash and may consider exiting at this price.

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