IRB share value is approaching its long term falling trendline resistance, Stock has formed a base around 112 odd levels . Stoch is approaching 80.6 and unable to cross the 80.6 Stoch indicator can form a double top and lead to pullback in stock till 115. IRB share is also approaching cluster of long term moving averages 125-127 which will be difficult to cross in a single attempt so traders can use the range of 125-127 if and when it comes to book profits on their holding.
Sell below 119 Tgt 117.5,115.5 and 113 SL 120
Buy above 122.6 Tgt 123.8,125.4 and 127 SL 120
Ranbaxy after forming a panic bottom at 370, stock has been trading firmly in its up trending channel, Stock is near to its resistance of 418, unable to cross the same pullback can be seen.
Buy above 418 Tgt 422,426 and 433 SL 414.5
Sell below 414 Tgt 411,408 and 403 SL 416
JSW Steel is trading in perfect down trending channel,and closed below its 200 DMA. Fall was backed by volumes sygeesting downside is not over. No positive divergence is seen in RSI,MACD and Stoc.
Sell below 701 Tgt 695,687 and 683 SL 705
Buy above 714.5 Tgt 720,726 and 733 SL 710