Winning disrupts the trader’s emotions as much as losing – We are disrupted when we experience events outside our expectation. The method that is 60% accurate will experience four consecutive winners about 13% of the time. Traders are just as susceptible to overconfidence during profitable runs as underconfidence during strings of losers.
Tata Sponge showed a extremely high volume yesterday and made a upmove of 10%. Gap is unfillied in the range of 311-320 as i have said before Gaps provides an excellent trading opportunities.
Buy above 344 Tgt 349,359
Sell below 334 Tgt 328, 320 and 311
Trendline Resistance coupled with 100 DMA@188 makes a leathal resistance for REC Limited for 187-188 range.Unable to cross will lead the stock back to lower trendline support at 170 levels.
Sell below 179.5 Tgt 177.7,174.9 and 170.3
Buy above 182 Tgt 185,187
ICICI bank declared its results yesterday and which were good set of numbers both on Top-line and Bottom line.AS we have covered this Stock before and as Expected stock spurted above 905 and made a swing high of 854 yesterday which co incidentally its 100 DMA. 954 becomes a strong resistance for this week,Unable to break the same will lead us back to 905 levels.
Sell below 921 Tgt 915,905 and 890
Buy above 954 Tgt 967 and 981
RIL unable to break its 200 DMA@904 and selling came into the stock on Friday. Yesterday formed a Bearish Engulfing pattern indicating volumes based selling.
Sell below 872 Tgt 867,856 and 847
Buy above 884 Tgt 893 and 904