Technical Stock Trading:IDFC,Rel Capital and Renuka

“In the beginning your aim should be to develop confidence and structure. Get comfortable with your trading strategy, develop good habits and discipline and be prepared to do whatever it takes to achieve success. It is critical that you avoid getting yourself into a situation where you are desperate and have to make money – this is the situation that more than any other seems to have
the most destructive effect on a person and their ability to trade well.”– Matthew Silvester


IDFC is trading in downward channel, On Friday touched the lower end of channel and bounce back forming a Bullish engulfing pattern. Short term reversal is on cards till 152 is not broken.

Buy above 158.6 Tgt 160.1,162.5 and 164 SL 156

Sell below 155.8 Tgt 154,152 and 147.6 Sl 156.5


Reliance Capital

Rel Capital

Reliance Capital has formed a spinning top candlestick around its 200 DMA. Spinning top candlestick formed in after prolonged  Downtrend signals of short term reversal.

Buy above 401 Tgt 406,409 and 413 Sl 397.2


Shree Renuka Sugar


Renuka Sugar has been on rise with sugar decontrol news on the cards. Stock is again trading in downward channel touched lower channel and bounced back forming an Bullish engulfing pattern.

Buy above 28 Tgt 28.5,29.2 and 29.7 Sl 27.5

Sell below 26.9 Tgt 26.4,25.9 and 25.3 Sl 27.3


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