SBI continued with downtrend after disastrous Q4 result, Stock has closed below its 200 DMA and is taking support at Fibo channel as shown in Chart. Unable to hold 2100 and closing below 2070 will add pressure on downside and levels of 1880 odd levels can be seen in extreme short term.
Buy above 2115 Tgt 2130,2155 and 2172 SL 2105
Sell below 2088 Tgt 2073,2050 and 2029SL 2100
Ranbaxy has been in news for all reason stock showing a steep decline from 473 to 383 in matter of 9 trading days showing faster retracement, Stock has closed below the Fibo lines showing further weakness is still on cards till 338 odd levels. Investor avoid catching a falling knife.Intraday traders can use below mentioned levels to trade with strict SL.
Buy above 387 Tgt 391,396 and 401 SL 384.5
Sell below 383 Tgt 380,377 and 372 SL 385
Canara Bank is trading in perfect Symmetrical triangle below 420 breadown comes, Pattern target comes to 390 in extreme short term.
Buy above 428 Tgt 435,441 and 445 SL 423
Sell below 420 Tgt 415,410 and 407 SL 423
For the reference of readers the performance sheet for the Month of May Expiry has been updated, can be accessed from http://tradingsystemperformance.blogspot.in/.
- 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.
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