Ranbaxy, BPCL and JSW Steel technical analysis

By | October 29, 2013

BPCL

BPCLBPCL is at its channel support,and near an important gann number of 343. Any close below 343 stock is heading towards 322 odd levels.

Buy above 348.5 Tgt 351,355 and 358 SL 346

Sell below 345 Tgt 341,337 and 333 SL 348

Ranbaxy

Ranbaxy

Ranbaxy is unable to close above its 200 DMA, and strong channel support also 50 DMA suggesting an explosive move is round the corner.

Buy above 392 Tgt 395,399 and 408 SL 388

Sell below 386 Tgt 383,378 and 370 SL 388

JSW STEEL

JSW SteelJSW Steel is rising wedge and negative divergence on daily charts, Positional traders who want to short keep an eye on 898 if and when it comes , Unable to cross the same  stock will correct back to 843 in short term.

Buy above 865 Tgt 869,876 and 888 SL 858

Sell below 852 Tgt 847,841 and 828 SL 858

 

 

Stock Performance Sheet for the Month of September is Updated @http://tradingsystemperformance.blogspot.in/  Net Profit for the month of Sep is 1.82 Lakh and Oct Month 2.27 Lakh

Stock Performance Positional sheet for Sep Month is updated on http://positionalcallsperformance.blogspot.com/  Net Profit for Sep Month 2.35 Lakhs , Oct Month 1.85 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.

7 thoughts on “Ranbaxy, BPCL and JSW Steel technical analysis

  1. Bramesh Post author

    Dear Sir,

    If levels come trade needs to be taken NO level = NO trade

    Rgds.
    Bramesh

  2. Raghavendrachar Jois

    All are today’s calls, both BPCL and Ranbaxy achieved buy side targets and JSW Steel on sell side. Congrats Brameshji. Only thing is that we should patiently wait for targets or S/L.

  3. Raghavendrachar Jois

    Bramesh Sir,

    Congrats for excellent performance on both Intraday and positional. Are the levels provided are for Futures or Spot?. Ranbaxy today went down by nearly 4to 4.5% (in spot or cash) and then recovered to CMP 383.80, your reco is to sell below 386 and buy above 392. How to trade in this scenario.

    Thank you,

  4. Ranjeet Sharma

    Great Bramesh Bhae,

    Already i took the data from ur performance report and did all the required calculation in excel so it is not required.

    Another thing i also do some technical analysis for intraday like “intraday trading based on volatility,gann n couple more.

    Thanks,
    Ranjeet

  5. Bramesh Post author

    Dear Ranjeet,

    I can send you the format of Performance sheet and you can prepare based on 1 Target. The traders i know they try t get the full juice of the rally stock has to offer. SO will stick to current version only.

    Regards,
    Bramesh

  6. Ranjeet Sharma

    Hi Bramesh,

    I am a Sr. Research Analyst (fundamental research) at Thomson Reuters India,and freelancer analyst at tfcresearch.in for last 6yrs.

    I am just 2yrs old intraday stock cash trader n take services from different research firm but yesterday i came to know abt ur buy/sell recommendation n site too.It is really good but one thing that is very much required, is to follow either Buy or Sell in any particular stock.Following both direction is little confusing.

    Based on my research on small and mid level traders (50k to 200k capital), they have 80% interest to square off the position in TARGET 1 AND rest in between T1-T2.So if u publish ur performance report with T1 Column it would be great.

    Thanks,
    Ranjeet Sharma, Bangalore

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