Technical Analysis:Bank Nifty,Jubliant Food and DLF

By | November 4, 2011

Overtrading

There are stock traders who make 150 or more trades in a single day. I am not sure they make a lot of money. I firmly believe that you can make more money by making fewer trades because it will make you focus on only the best of opportunities, and play them with a larger amount of capital so the pay off is better. By being patient and disciplined with the really high probability trades, you can maximize profitability.

 

Bank Nifty

Bank Nifty is trading at its upper end of down trending line facing resistance 9888 and 9984, and any move above it will make Bank Nifty is 5 figures 🙂

On Upside first resistance will come at 10080 and Most important resistance 10157.

Buy above 9984 Tgt 10080,10157 and 10315

 

Jubilant Food

 

Jubilant food is on a crucial level trading at lower end of trendline and break of  805- 793 will end the current upmove. Stock is in Distribution phase as unable to cross High of 1021 and made a swing lower  high of 925.

Sell below 805 Tgt 793,770 and 750

Buy above 831 Tgt 848,862 and 878

 

DLF

Real Estate Stocks Looks strong on charts as all dips  in market these stocks are bought into.  DLF is approaching near its resistance line of 248-251 as as as shown in chart.

Break of 248-51 range will make this stock to breakout of its 7 months trading range which is bullish for stock in short term.

Use Dips to Buy in DLF with Sl of 230 for Positional traders.

Buy above 248 Tgt 251,254 and 257

 

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