Technical Calls: Bharti Airtel,REC and Dish TV

By | September 25, 2012

Forget about predicting and thumping your chest with pride when you are right. If you think you are smarter than the net total of all participants in the markets then good luck. Money is made by going with the flow of the market until the flow changes. Your job is to find ways to actually measure what is happening and use the market action as a guide to your own actions. You also have to carefully manage your risk so you can survive being wrong and still have capital to profit when you are right.  History does repeat itself and past patterns do repeat because people do not change, they are greedy, hopeful, and fearful. The law of economics does not change, supply and demand drives prices. Companies that change the world and grow exponentially tend to have increasing stock prices to match their increasing earnings. Markets tend to move in big trends over time, sometimes making higher highs and higher lows and at other times making lower highs and lower lows. These are all ways to make money in the markets, be a follower not a predictor.

Bharti Airtel

 

Bharti has been in a rising trend from low of 238 till 283. Stock is near its Fibonacci resistance and pullback should be expected.

Buy above 283.5 Tgt 288,291 and 294

Sell below 278 Tgt 273,267 and 265

 

Dish TV

Dish TV is at its trend line support and SAR support of 76.2

Buy above 78 TGt 79.3,80.4 and 81.7

Sell below 76.2 Tgt 75.5,74 and 73

 

REC

REC should open gap up today around 237. Range of 237-240 is tricky close above it stock will move towards its 52 week high of 251

Buy above 237 TGt 240,245 and 251

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