HDIL declined after posting bad set of numbers, Stock is approaching its falling trendline support of and demand zone of 43-44 range.Resistance on upside comes at 47 odd levels. RSI is showing positive divergence.
Buy above 45.5 TGt 46.5,47.7 and 49 SL 44.6
Sell below 43 Tgt 41.8,39.6 and 38 SL 44
ITC has been a leadership stock in current rally, Stock corrected took support at trendline and bounced back. Stock made a fresh life high at 355.9. Closing above 356 will take stock to further higher levels.
Buy above 356 Tgt 359,363 and 367 SL 354
Sell below 350 Tgt 346,342 and 338 SL 354
Cipla has corrected from the high of 420 to 385 and is now approaching its short term trendline support. Holding the same bounceback can be expected. Cipla has also closed below its 200 DMA putting further pressure on stock.
Buy above 391 Tgt 396,400 and 403 SL 388
Sell below 380 Tgt 375,370 and 366 SL 383
Stock Performance Sheet for the Month of May is Updated @http://tradingsystemperformance.blogspot.in/ Net Profit for the month of May is 187775/-
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