Day trading stocks:Voltas,OFSS and Tata Steel

By | August 13, 2013

Tata Steel

Tata Steel

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

OFSS

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

Voltas

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

 

  • 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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6 thoughts on “Day trading stocks:Voltas,OFSS and Tata Steel

  1. Bramesh Post author

    Dear Santosh,

    Positional levels are mentioned in above post, Like Today OFSS achieved its target of 2816 low made was 2800. I am not asking you to trade, if you find the stock not trade able.

    As a trader you should know what kind of volatility you can take in. So saying one cannot trade in dynamic market is grossly wrong. You cannot generalize your thought process to everyone.

    Rgds,
    Bramesh

  2. Bramesh Post author

    Dear Santosh,

    If you are not comfortable with flexible targets its your call. My main aim is not to let me profitable position go into loss..Now you name it scalping/intradaying its your call. My bottom line is to make money irrespective of form of trading one do.Secondly if i miss any move, I am quiet comfortable with it … As market runs everyday and we get loads of opportunity to work on.

    Again these are my personal observation/trading ideas and if you are not comfortable just skip it off. At the end of the day its your money which is at stake.

    Rgds,
    Bramesh

  3. Trader.Santosh

    Actually if you see at the EOD, OFSS and Voltas were clearly in a sell. OFSS actually sold of from 2974 right upto 2942 in a single fall… which leads me to think, whether it really makes sense to trade with levels ina dynamic market… no offense but the levels in OFSS atleast from SPOT levels mentioned didnt provide a tradeable window… right at the begining the Future in OFSS was trading with a 15 pt premium and actually didnt behave in any particular way with the spot.. it was almost like people on the derivative side were all playing predefined levels and then just let go

  4. Trader.Santosh

    Bramesh,

    i didnt think the targets were flexible. For eg if on Tata power the other day if you had been satisfied with a point less than the first target, you would have missed the entire downside that it gave later. If profit booking is advised once a target is near(esp the first target) and also keeping to cost(stopping out with cost), then we are only scalping and not trading..i’m not sure i understand your methodology here

  5. Bramesh Post author

    Dear Santosh,

    As a Intraday trader you need to be flexible OFSS Cash did a high of 3006 which is its 2 points shy of its 1 tgt 3008 and Profit booking is always advisable.If you did not than your TSL is triggered near cost price.. where is question of SL..

    Rgds,
    Bramesh

  6. trader.santosh

    I’m not able to reply to Facebook comment for some reason, offs buy given as per spot levels 2980,3008. It touched 3006 before slumping to 2965 whereby it hit thestop loss of 2970. As you have mentioned spot levels to trade, why would you refer to future levels to indicate first target met?

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