• Trading runs in cycles: some good; most bad. Trade large and aggressively when trading well; trade small and modestly when trading poorly. In “good times,” even errors are profitable; in “bad times” even the most well researched trades go awry. This is the nature of trading; accept it.
• To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market’s technicals. When we do, then, and only then, can we or should we, trade.
• Respect “outside reversals” after extended bull or bear runs. Reversal days on the charts signal the final exhaustion of the bullish or bearish forces that drove the market previously. Respect them, and respect even more “weekly” and “monthly,” reversals.
• Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.

IDFC

IDFC is Trading in a channel and broke its short term resistance on Upside. Last Friday made a Doji pattern with big volumes signalling a distribution pattern.

Sell below  145 Tgt 142,139,136 and 134

Buy above 149.50 Tgt 151,154 and 157

 

Bharti Airtel

Showing signs of weakness as trading below 20 SMA.

Sell below 345.7  Tgt 342.3 and 337

Buy above 351 Tgt 355,359

Share this:

Related posts:

1. Readers Request:Techncial on M&M and Chambal Fertilizer
2. Technical Analysis of Bharti Airtel
3. GMDC Short term View on Readers Request
4. Technical Chart Check:Bharti Airtel,TCS and TELCO
5. Technical Calls:Bank Nifty,Bharti Airtel,Reliance Industries