Short term technical Calls:SBI,ranbaxy and Idea

By | February 18, 2013

“Why are you trading? As with any long-term pursuit, it’s nice to have goals and rewards. What are you going to do with the money? Set small targets and reward yourself.”

SBI

SBI

SBI made low of 2175 on results day and has been rising from past 2 days, Stock is approaching rising trendline resistance and moving average of 100 DMA which can put break to the rally.

Buy above 2277 Tgt 2290,2309 and 2323 Sl 2269

Sell below 2255 Tgt 2242,2235 and  2221 Sl 2269

Idea

IdeaIdea has formed a pennant formation, unable to cross 20 DMA with formation of gravestone Doji signalling bears are overpowering the counter. Strong support at 50 DMA 107.7 .

Sell below 109.2 Tgt 108.5,107.7 and 106.2 SL 110.2

Buy above 110.3 Tgt 111.3,112.7 and 113.7 SL 110.2

 

Ranbaxy

Ranbaxy

Ranbaxy has been trading in downward from the High of 522 till 407. Stock is showing some sign of weakening of down trend with formation of 2 Doji candles with formation of higher low.

Buy above 412.3 Tgt 415,418 and 422.3 SL 410

Sell below 407 Tgt 405,400 and 395 SL 412

 

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