Trading Calls: IDFC Bank, PC Jeweller & Granules India No ratings yet.

Trade Date- 07/05/2018

(1) IDFC Bank: The stock has been witnessing a great amount of supply and every bounce back in the counter is being sold into. The pattern is likely to continue in short term and more lower levels may be encountered in the stock in this series.

Technical pattern: SMA Crossover

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <46.15 48 43 38

(2) PC Jewellers: The stock has shown a great amount of volatility in last few trading sessions and the volumes have been been surging through the roof. The traded volume shows strong buyers in the counter which may further push the price higher in the following sessions.

Technical pattern: Volume breakout

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >181 172 194 220

(3) Granules India: The stock has formed a bearish candlestick pattern on charts and is already trading below the major support levels. The counter looks very weak in short term and may be shorted below 99.50 for targets mentioned below.

Technical pattern: Below 50-Day SMA

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <99.50 105 90 81

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Author: Traders' Chowk

23 thoughts on “Trading Calls: IDFC Bank, PC Jeweller & Granules India

  1. Respected Mam
    Namaste
    I purchased one lot of IGL @ 294 but IGL go down to 261 very fast within 1-2 days , by fear I booked my loss at 264 net loss of 82500. Now I want to recover my loss so please tell me at what price I should buy IGL to recover my loss.

    Thanks

    1. Hello Kunal,

      It is not necessary to build position in the same stock to offset your loss.The loss incurred may be offset by taking position in stocks that are more appropriately poised for an upmove/downmove. For that, you may refer to stocks discussed in the above blogpost. For IGL specifically, The stock may bought above 280 for targets of 286/292.

  2. Respected Maam I have 300 shares of Ashokleyland.. I bought it at 150. and now it is 164.. I want to buy 500 shares more… Can I buy it Maam??

    1. Hello,
      The stock is looking good. You may add more shares above 166 odd levels (on closing basis), which is also the breakout level for the stock.

    1. The stock has been witnessing unusual volumes for last few sessions on both upside and downside. In my opinion, at this point of it becomes risky to take new position in this counter. So, you may avoid taking fresh positions, as of now.

    1. Both stocks are looking weak in short term and lower levels may be witnessed in these counters in short term.

  3. Dear Mam,
    Short idfc and granules as per ur tip. So far didn’t book at lower level. Can i wait for first target of bith scrips?
    Pl.advice

  4. Hello mam!!
    Earlier stop loss was hit in Bata India!!But now the stock is looking good in the short run. Can I make a fresh long position tmrw ?

    1. Hello Rohan,
      In my opinion, there are counters that are more appropriate for short term buying. M&M and Exide shared in latest blogpost are the ones that may be considered for fresh longs.

  5. Can you suggest please the buying ranges of reliance infra and selling ranges of reliance infra means support and resistance level ,at present can I buy or short sell

    1. Considering you are a short term trader, the support and resistance level for Reliance infra for May series – Resistance zone 457-460 above which the stock may be bought. Support zone-417-419, below which you may short sell the stock.

    1. PCJ has been witnessing unusual volumes, trading such volumes may be very risky and at the same time, may be very rewarding too. If you are considering fresh entry, you may avoid it for now.

  6. Dear Mam,short idfc abd granules at given levels but dudn’t book at lower levels. Still Can i wait for targets?
    Pl. Advice

  7. I have 10000 share Bhushan steel,at the rate 54.please let me know will keep are not. And let me know target please.

    1. Bhusan Steel is a very weak stock. In my opinion, it is better to sell this stock and buy a stronger counter.

  8. Hello Priyanka mam. IDFC Bank was an excellent call. Booked profit of 19000. Sold at 46.25 and bought at 44..

    Thabk you for your calls. 🙏

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