Stock Trading: RIL, Sun Pharma and Indusind Bank

By | May 28, 2013

Reliance

RIL

Reliance formed a bullish engulfing pattern yesterday closing well above its 200 DMA, Now stock faces resistance at its 100 DMA 834 above which it will reach the top end of channel at 850.

Buy above 835 Tgt 840, 851 and 855  SL 828

Sell below 819 Tgt 810,801 and 784  SL 822

 

Indusind Bank

Indusind Bank

Indusind bank is very near to its trendline resistance , stock formed a bullish engulfing pattern yesterday.Breakout above 531 and unable to do the same pullback till 500 is expected.

Buy above 532 Tgt 536, 541 and 551 SL 539

Sell below 518 Tgt 507,500 and 480  SL 521

 

Sun Pharma

Sun Pharma

Sun Pharma is trading at life highs, Stock is at its trendline resistane of 1026 unable to cross the same pullback till 975 can be expected. Negative divergence is visible and price confirmation is required.

Buy above 1026 Tgt 1039, 1050 and 1064 SL 1013

Sell below 1000 Tgt 980,971 and 962  SL 1013

For the reference of readers the performance sheet for the Month of May Expiry has been updated, can be accessed from http://tradingsystemperformance.blogspot.in/.

  • 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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