Technical Calls:Power Grid,IDFC

By | August 31, 2012

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.

Power Grid

Power Grid is trading between 118.2-123 from past 3 days so expect a breakout soon.

Buy above 123 Tgt 123.7,125.7

Sell below 120.9 Tgt 119.5,118 and 116

 

IDFC

Buy above 138.5 Tgt 140,141.3 and 143.4

Sell below 137 Tgt 135.6,134.6 and 133.7

 

 

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