Tata Steel has been falling like 9 pins from high of 448 to 195 in mater of 6 months. Steel stocks are showing sign of life after being beaten down heavily in 2013. Stock is poised for crucial breakout as per fibo fans as shown in below chart. Positional traders should look for close above 241 for target of 254 in short term. Any close below 233 will see a quick correction till 212.
Buy above 241 Tgt 243.5,247 and 251 SL 239
Sell below 232 Tgt 228,225 and 220 SL 234
OFSS has been forming multiple tops in range of 3006-3308.Trending line support on downside comes at 2961. Any close below 2961 will gives a quick correction till 2816 odd levels. Close above 3010 will give breakout giving atarget of 3100 and 3194
Buy above 2980 Tgt 3008,3027,3049 and 3080 SL 2970
Sell below 2947 Tgt 2926,2900 and 2860 SL 2960
Voltas has been trading in triangle, and is near very crucial level of 76. Any close 77 will propel the stock to 81 odd levels .Above 81 its a clear breakout for target of 89. Any close below 76 will invite a correction till 68 odd levels.
Buy above 76.5 Tgt 78,80 and 82 SL 76
Sell below 75.8 Tgt 74,72.5 and 70.4 SL 76.4
Stock Performance Sheet for the Month of June is Updated @http://tradingsystemperformance.blogspot.in/ Net Profit for the month of Aug is 1.28 Lakh
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- The call is valid for the next trading session only unless otherwise mentioned.
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