HDFC
HDFC is forming an ascending triangle with breakout coming above 917, Positional traders can take long above 917 for target of 950 in 1 month time frame. Intraday Traders can use the levels below to trade .
Buy above 911 Tgt 914, 917 and 921 SL 906
Sell below 903 Tgt 900,894 and 889 SL 906
Tata Steel
Tata Steel has been forming base in range of 292-295 and is facing resistance at downward trendline.
Buy above 315 Tgt 318, 321 and 325 SL 313
Sell below 311.5 Tgt 309,306 and 300 SL 313
United Spirits
United Spirits is at life highs and is approaching the upper end of channel, Unable to cross 2600 profit booking will come.
Buy above 2600 Tgt 2625, 2650 and 2680 SL 2568
Sell below 2544 Tgt 2525,2503 and 2464 SL 2555
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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