Technical Calls:Canara Bank,BoB,Idea and Union Bank

By | August 1, 2013

Canara Bank

Canara Bank

Canara Bank is taking support at its Fibo Support of 246, Holding the same bounceback can be expected till 322 in short term.

Buy above 278 Tgt 285,292,298 SL 274

Sell below 265 Tgt 260,254 and 246 SL 269

Idea

Idea

Idea has been trading in perfect up trending channel and stock has reached its 52 week high and taking resistance at uptrending channel at 171.

Buy above 171 Tgt 174,178 and 181 SL 169

Sell below 164 Tgt 160,157 and 154 SL 165.5

 

Bank of Baroda

Bank Baroda

Bank of Baroda tried to break to break down its trading range 538-606. Stock has again bounceback from its fibo fan support as shown in above chart.

Buy above 566 Tgt 575,583,588 and 597 SL 562

Sell below 550 Tgt 539,528 and 516 SL 555

 

Union Bank

Union Bank

Union Bank has been falling from 209 to 118 within a month. Stock has bounceback 118 which is Fibo support. Holding the same 144 can be reached in short term.

Buy above 135 Tgt 138,141 and 144 SL 133

Sell below 131 Tgt 128,124,121 SL 133

Stock Performance Sheet for the Month of June is Updated @http://tradingsystemperformance.blogspot.in/  Net Profit for the month of Aug is 15K

  • 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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