Share Trading: SBI, Sun TV and JSPL

By | March 19, 2013

SBIN

SBI

SBI has been following classical technical analysis support becoming resistance, as shown in above chart, rising trendline which was supporting the upmove is now acting as resistance, stock is showing pullback as soon as it approach the trendline. Stock is also near its 200 DMA @2188 and bounced back sharply. Any close below 200 DMA on weekly basis will make the long term trend in stock as bearish.

Buy above 2220 Tgt 2231,2250 and 2270 SL 2212

Sell below 2190 Tgt 2170, 2160 and 2145 SL 2203

Sun TV

Sun TVSUN TV had a fall of 6% today after DMK pulled out of UPA-II. Stock has made high of 494 on 5 Feb and has been trending down since than.Stock is near its long term support trendline at 404 and has bounced from it. Tomorrow will be test for the stock will it be able to survive and close above this trendline.

Buy above 414 Tgt 418,422 and 426 Sl 411

Sell below 408 Tgt 404,400 and 397 SL 411

 

Jindal Steel and Power

JSPL

JSPL has been in firm bear grip,from the start of the year. Share is trading in tight range of 337-370 from past 2 weeks. Stock is trying to form base in the range of 335-340 odd levels. Today also stock was able to cross above the rising trendline support, follow up move need to seen in tommrow session.

 

Buy above 345.2 Tgt 347,349 and 352.5 Sl 342

Sell below 337 Tgt 334,330 and 327 SL 340

 

  • All prices relate to the NSE Spot
  • Calls are based on the previous trading day’s price activity.
  • The call is valid for the next trading session only unless otherwise mentioned.
  • Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
  • Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

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