Trading Calls- Reliance, Idea Cellular & Titan No ratings yet.

Nifty Trading tips

Trade Date- 14/06/2018

(1) Reliance:  An V-shaped recovery in daily charts and a breakout at resistance levels is working in favour of bulls in this counter. Next leg of buying may continue above 1007 odd levels. Fresh longs may be initiated above the said resistance for targets mentioned below.

Technical pattern: Price breakout
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >1007 990 1020 1045

 

(2) Idea Cellular:  After a good bounce back from its May lows, the stock now seems ripe for a down move. Fresh shorts may be initiated in this counter for targets mentioned below

Technical pattern: Downtrend
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <61 63 59 57

 

(3) Titan: The stock has recovered from its retracement levels and looks good in short term as the momentum oscillators ‘signals’ a buy. The counter may be bought above 927 odd levels for below mentioned targets.

Technical pattern: MACD- Buy
Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >927 907 939 957

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Author: Traders' Chowk

8 thoughts on “Trading Calls- Reliance, Idea Cellular & Titan

  1. Respected Mam
    I’m holding igl @288 June series future pls suggest should hold or short at this level ??

    1. Hello Arvind,
      In my opinion, IGL looks weak below 266 odd levels, once that is broken, you may consider exiting your position.

    1. Nifty and Bank nifty looking strong for the week closing. Already long position in Nifty, may be kept open with stop loss@10,770.

      Bank Nifty- Already long positions may be kept open with stop loss @ 26,420.

  2. I have reliane options CE 1040 @ 7.65 one lot and TCS options CE 1900 @ 17.10 six lots . Rite now both in loss . Will it rise tomorrow or shud i book loss ??? Pls guide

    1. Unlike futures, Options pay off do not work in linear fashion. So, the underlying stock may rise but the options value may actually decrease & since you have bought OTM options the chances to profit from them are even lesser, unless the stock rises exponentially in 1-2 sessions!
      So, in my opinion, it is better to cut losses in your positions if they do not become profitable in this week, itself.

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