People are successful in business because, while they make mistakes at first, they study these mistakes and avoid them in the future. Then by gradually acquiring a knowledge of the basic principles of success, they develop into good business men. Buthow many apply this rule to investing and trading? Very few do any studying at all. Very few take the subject seriously. They drift into the market, very often get ‘nipped’ as the saying is, avoid it for a while, return from time to time with similar results, then gradually drift away from it, without ever having given themselves a chance to develop into what might be good traders or intelligent investors. This is all wrong. People go seriously into the study of medicine, the law, dentistry, or they take up with strong purpose the business of manufacturing or merchandising. But very few ever go deeply into this vital subject (of trading and investing) which should seriously be undertaken by all.”
PFC has seen a waterfall decline from 194-151 odd levels. Stock is showing some sign of strength with the formation of ascending triangle but it need to cross 163-165 on closing basis to show sign of recovery else another pullback near new low will be possible.
Volumes are also a concern as yesterday rise was backed by less volumes as compared to previous day.
Buy above 162 Tgt 163.4,164.9 and 166
Sell below 159.5 Tgt 157.1,155.25 and 152.8
Bharti Airtel is showing sign of strength closing above its trendline.
Buy above 250.1 Tgt 252.9,253.8 and 256
Sell below 247 Tgt 245,243 and 241
Buy above 347 Tgt 349,351 and 355