Trading Ideas

By | March 7, 2010

United Phosphorus closed at its 61.8% Retracement on last Friday at 164 levels.This level should be a significant resistance,Traders should wait for the stock to show pull back till 157 levels to take further position.

And if the stock crosses 167 levels instead of giving a pull back till 157 positions can be taken for targets are 171 and 177 levels.

NALCO:The Stock is making higher bottom and higher top and indicator are also showing positive momentum.Buy near 396 levels for a target of 404 410.

As indicated in Weekly chart 410 level will prove to be a significant resistance.

Reliance Capital:Stock facing resistance at its 50 SMA which is placed at 817.Pivot Resistance is placed at 813 levels,So technically Resistance is in the range of 813-17 Levels.Once that is crossed targets are 821 830 and 200 SMA which is at 851 Levels.

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