Trading Calls: Sun Pharma, Berger Paint & ONGC No ratings yet.

Trade Date- 19/03/2018

(1) Sun Pharma: The stock has formed a distribution pattern in daily charts which signals shorters queuing up in the counter. The stock can be shorted just below the immediate support level of 500/- for targets mentioned below.

Technical pattern: Distribution pattern

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <499 514 491 480

(2) Berger Paint: The stock has just started gathering bullish momentum and can be bought above the latest resistance of 256/- for targets mentioned below.

Technical pattern: Doji Candlestick

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >256 249 261 266

(3) ONGC: The stock is looking very weak on daily charts and is already trading at new lows and near an important support zone. Another leg of selling may be triggered below  175/- and the stock may be shorted at this level for targets mentioned below.

Technical pattern: Support zone break

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <175 182 171 167

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Author: Traders' Chowk

14 thoughts on “Trading Calls: Sun Pharma, Berger Paint & ONGC

    1. For short term, NMDC may be bought above 127.70/- odd levels for targets of 131/135. stop loss- 122/-

      Granules India may be bought above 113/- for targets of 118/124. stop loss- 109 (March series targets).

    1. JSW Steel is trading in a range and may gather momentum above 295 odd levels. If you want to create fresh position, you may buy it above 296/- levels for targets of 302/307 .

      If you are already holding, place a stop loss at 285.

  1. Apex frozen has witnessed some very irrational up move in past. Continuous upper circuits which made the stock gain 100% in less than one month time and became a trap for retail investors. The stock is now in a profit booking mode and may witness lower levels.
    You can place a stop loss at 628 odd levels and hold your position. Below 628/- , the stock may tumble further.

  2. Not an apt time to go aggressively long in any counter as the underlying indices are looking weak. In case of M&M, if you are looking to buy, you may buy it above 746 (on closing basis).

  3. Can you please tell your view on Idea cellular? Holding 82.5CE @1.5 . Cmp is 0.7. Should I exit with loss or wait till expiry? Please provide your view

  4. Idea Cellular is looking weak. With only 7 days left to expiry, the gain in CE looks more improbable since your break even point is 84/-. Place a stop loss at 76.5 levels in cash and if it is breached on closing basis, you shall cut your losses in 82.5 CE.

  5. Just a suggestion needed I have 100 shares of tata elxsi @ 1064, I don’t want to block such a amount for a large period.. I can wait for 4-5 months.. can u suggest about it.. please.. thanks

  6. For your position, you can a place a stop loss at 917/- odd levels (on closing basis) and hold the stock. Below 917/- the stock may witness further selling pressure.

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