Trading Calls-Syndicate Bank, PFC & Ceat No ratings yet.

Nifty Trading tips

Trade Date- 21/05/2018

(1) Syndicate BankThe stock has formed a bearish candlestick pattern on weekly charts which suggests weakness in the counter. Also, a break below the 20 SMA bollinger bands indicates increase in volatility and the fall may continue in the coming sessions.

Technical pattern: Bollinger Bands break
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<42.95
44.5
41
38

 

(2) PFC: The stock is trading below the major support levels and shorters seems to have an upper hand in this series. The directional indicator, ADX is also trading above the crucial mark of 25 which further substantiate the strength of the directional move in the counter.

Technical pattern: ADX>25
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<73.80
76
71
67

 

(3) Ceat: After many failed attempts to sustain at higher levels, the stock has been beaten down to levels where shorters clearly have a majority. Succumbing to high supply, the counter may witness selling pressure in coming days and could be shorted for targets mentioned below.

Technical pattern: SMA crossover
Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL
<1370
1390
1355
1330

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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