Trading Strategies for 18th September No ratings yet.

(1) Grasim: The stock is positively positioned to give a run up in near term. A high volume and increase in open interest (OI) suggests huge long build up in the counter which might help the stock to close higher in coming sessions. The specific trade plan for the stock is as follows:

Technical pattern: Fresh Breakout

Action

Trigger Price

Stop Loss

Target 1

Target 2

Buy >1249 1210 1290 1320

(2) LIC Housing Finance:  The stock looks technically weak in short term and seems to be in a retracement mode in an underlying uptrend. In the last trading session, the stock had a gap down opening and the weakness continued throughout the session. The supply is expected to continue in the near term and lower levels may be seen in the counter. The specific trade plan for the stock is as follows:

Technical pattern: Gap down opening

Action

Trigger Price

Stop Loss

Target 1

Target 2

Sell <645 659 633 620

(3) Bajaj Auto: A long Bullish candle along with a high volume delivery suggests strong buyers in the counter. Since the stock already had a good run up in the last session specific entry levels are important. The trade plan for the stock is as follows:

Technical pattern: 52-week high

Action

Trigger Price

Stop Loss

Target 1

Target 2

Buy >3038 2970 3099 3140

(4) JP Associates: The stock is witnessing a distribution pattern, which suggests lower levels in coming sessions. A bearish pattern on daily charts suggests that any break below the support of 19-19.5 may take stock to lower levels. The specific trade plan for the stock is as follows:

Technical pattern: Bearish Distribution pattern

Action

Trigger Price

Stop Loss

Target 1

Target 2

Sell <20 21.40 18.8 17.60

 


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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