IDFC has been trading a in a downtrend channel and has given a breakout above the channel and closed above its 200 DMA also with a bullish engulfing pattern. Stocks looks ripe to touch its next level of resistance@162
Buy above 159 Tgt 160.5,162.3 and 165 SL 158
Sell below 156 Tgt 154,152 and 149 SL 158
Ranbaxy has been in news for all bad reasons and stock has responded on bullish note to the news showing bulls are active and any bad news is digested and stock is rallying. Ranbaxy is near an important resistance of 467.
Buy above 467 Tgt 472,476 and 480 SL 464
Sell below 458 Tgt 455,452 and 446 SL 460
ONGC is in its upper end of trading range @337.Unable to cross the same pullback can be expected to lower end of trading range @318.
Buy above 339 Tgt 342,345 and 348 SL 337
Sell below 332 Tgt 329,326 and 323 SL 335
- 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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