Trading Levels:HDFC,HPCL and Kotak Bank

By | August 29, 2011

Traders always a dilemma of What Stop Loss should be kept for there Trade.For putting your Stop Loss In trading –you need to keep the structure of the market in mind.

Right Now we are in Volatile times so your Intra day trades should have a deep sl as If you see Nifty it give 20 Points move in matter of Mins so” deep sl will help you in not getting Whipsawed”  and  when we are in sideways market Keep Sl tight as range breakout can give good move for Nifty or Stock you are trading into. Always Treat Sl is the Risk/ Money you are prepared to loose on a particular trade.

HDFC BANK

HDFC Bank is one of the Strongest Stock of Nifty as it was still not broken the Feb 09 Low of 582 showing strength.Formation of Head and Shoulder is visbile with neckline placed at 621 is placed. But i do not trust this patter much (Personal Prefrence)

If HDFC closes below 611 than we can see the revisit of feb low of 582 break of which will drag the stock below 561,530 in short period of time. These Stock will lead to next down fall if and whn it comes.

Level for Today

Buy above 623 TGt 629,636 and 650

Sell below 611 Tgt 597,582

 

 

 

HPCL 

HPCL has broken its trendline from the low 303 Formed on Feb 24.Now this trendline is acting as resistance for HPCL  as seen in daily chart.Stock  is still trading range of 370-400 and but closed below its 200 DMA@377.6 which is bearish.

Sell below 370 Tgt 366.6 and 361

Buy above 377 Tgt 380,386 and 390

 

 

Kotak Bank

Kotak Bank has also not broken its low of 333 on Feb 09. Stock has fallen below its 200 DMA.

Trendline drawn from Feb 09 Low gives support for the Low formed on 26 August 411.

Stock could see a bounce back if its Holds 411 till its 200 DMA@440

Buy above 418 Tgt 424,434 and 440

Sell below 411 Tgt 407,403 and 392

4 thoughts on “Trading Levels:HDFC,HPCL and Kotak Bank

  1. Kirtan B Raut

    Hi Bramesh,

    Rightly said about stop losses.U have to loosen your purse strings as per volatility of the markets or less get butchered every now and then.On that day “Saat Khoon Maaf” for Nifty.

    Regards

    K B RAUT

  2. Bramesh Post author

    Thanks Sethu sir For your updates.

    Rgds,
    Bramesh

  3. Sethu

    View for 29-8
    1) If low of 26/8 4720 is held, expect a bounce to 4840-4872, first line of resistance
    2) If low of 4720 is not held, expect a fa;; upto 4675, low of 11/2/2010
    3) Exepect a deeper fall below 4675
    4) Weekly chart shows strong support 4675-4700
    5) Levels for today 4780-4820-4840-4872
    6) SAR level for today 4872. Below whicc shorts are safe and above which entry for longs and short term reversal.

    All the best to your trading.

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