Technical Picks:Bajaj Auto,PFC and Lupin

By | May 21, 2013

Bajaj Auto

bajaj auto

Bajaj Auto has given a triangle breakout and Bulls are trying hard to close stock over 1870 which is 200 DMA. Close above 1870 will change the long term trend of stock and will head towards target of 1930 in short term.

Buy above 1870 Tgt 1887,1900 and 1911 SL 1863

Sell below 1853 Tgt 1838,1820 and 1800 SL 1863

 

Lupin

Lupin

Lupin has been on a one sided rally trading firmly in up trending channel, yesterday correction has brought stock to lower end of channel and todays price action will confirm rally is over and correction has started or yesterday fall was corrective downmove and rally will resume again.

Buy above 773 Tgt 778,785 and 791 SL 768

Sell below 762 Tgt 755,750 and 740 SL 768

 

 

PFC

PFCPFC has been trading in channel and is currently touched the upper end of channel, and pulled back suggesting another down move till 195 is possible.

Buy above 206 Tgt 208,210.5 and 213 SL 204.5

SellĀ  below 203.5 Tgt 202.3,200 and 198 SL 204.5

 

  • 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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