Momentum Trading:DLF,ONGC and JP Associate

By | June 12, 2013

DLF

DLF

DLF as per Fibo Fans has been taking support at lower end bounced and touched the upper end and is back with its downhill price move.Next Important support comes at 176 odd levels, unable to hold target as low as 157 can be seen as per Fibo Spiral. On Upside Holding 176 it can see an up move back till 212 odd levels can be see.

Buy above 189 Tgt 192,194 and 196 SL 187

Sell below 184 Tgt 182.3,178 and 176 SL 187

JP Associate

JP AsssociateJP Associate has broken its descending triangle and today we need to see follow up move to see the validity of pattern.60 ia very Storn Gann and Fibo Spiral Number. Closing below 60 open the gate for target of Rs 55 and 51 in extremely short term .

Buy above 62 Tgt 62.9,64 and 65 SL 61.25

Sell below 60 Tgt 59,58 and 57.2 SL 61.25

 

ONGC

ONGCONGC has given breakdown below its symmetrical triangle pattern signalling more pressure on prices in near term.

Buy above 309 Tgt 312.5,315 and 318 SL 306

Sell below 305.5 Tgt 302,297 and 292 SL 308

  • 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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