In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be up or down. The thing is to do is to watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction. A speculator must concern himself with making money out of the market and not with insisting that the tape must agree with him. Never argue with it or ask it for reasons or explanations. Sock-market postmortems don’t pay dividends.– Jesse Livermore
SBI is near its trendline support of 2261,Break of same can lead to 2160 which is support area.
Sell below 2260 Tgt 2246,2211 and 2160
Buy above 2290 Tgt 2319,2340 and 2369
Infosys will be declaring its results on 12 Oct. Stock look weak on technical charts and has broken the channel on downside. Infosys is trading below its 200 DMA which is giving bearish signal
Sell below 2480 Tgt 2451,2423 and 2375
Buy above 2500 TGt 2534,2554 and 2580
PFC is still trading in the trendline we have discussed on Friday. 200 on upper end and 192 on lower end is the trading range.
Buy above 197.1 Tgt 199.5 and 200.8
Sell below 194 Tgt 192,190 and 188