Trading Strategies for 25th September No ratings yet.

(1) DLF: The stock looks weak in short term.  Last session witnessed a gap down opening and the bearishness continued throughout the session. Any break below 170 may take the stock to the nearest support levels of 155-150. 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 <171.2  178 161 153

(2) PVR: The stock is in a retracement mode and looks weak on charts. Any break below the recent low of 1209 will be taken as an opportunity to short the counter. The specific trade plan for the stock is as follows:

Technical pattern: Base formation

Action

Trigger Price

Stop Loss

Target 1

Target 2

Sell <1208.5 1230 1190 1100

(3) ACC: A very bearish pattern on chart suggest strong sellers in the counter. Any break below 1680 will again be utilized as an opportunity to short the stock. Though, the stock may witness a temporary bounce back after three sessions of sharp fall. The idea is to ignore the bounce back and to enter at short side at right levels. The specific trade plan for the stock is as follows:

Technical pattern: Three falling methods

Action

Trigger Price

Stop Loss

Target 1

Target 2

Sell <1680 1714 1620 1570

(4) Bajaj Finance: is a typical example of a strong underlying stock showing signs of consolidation. This consolidation may lead to a break down in near term. The specific trade plan for the stock is as follows:

Technical pattern: Consolidation 

Action

Trigger Price

Stop Loss

Target 1

Target 2

Sell <1845 1867 1820 1790

 

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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