Trading Calls: Reliance, Nestle & Can Fin Homes Ltd No ratings yet.

Trade Date- 24/01/2018

(1) Reliance: The stock has recently shown a lot of built-in strength and has started trading in a new territory. Any break above 991 /- may again take the stock to new levels.

Technical pattern: Fresh Breakout

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >991 975 1011 1035

(2) Nestle: The stock has been losing steam and has recently broken an important support level of 7600/- . The counter can again be shorted below 7585/- odd levels for targets mentioned below:

Technical pattern: SMA Crossover

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <7584 7631 7540 7508

(3) Can Fin Homes Ltd: The stock has formed a bearish chart pattern and indicates a fresh sell-off to take place below the immediate support levels of  455/-. The specific trading plan for the stock is as follows:

Technical pattern:  Bearish Pattern

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <455 470 445 437

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

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