Swing Trading Stocks:Idea, RIL and Rel Capital

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Idea

Idea
Idea is falling a rising wedge pattern which is bearish in nature and also formed a topping tail candlestick pattern which again is bearish pattern, both pattern needs follow up price action to get confirmation. Close above 144 will invalidate both the pattern and target of 152 can be seen in short term.Pullback till 132 is on cards if we do not see a closing above 143 is next 2 days. These levels are for positional traders, Intraday can use the below mentioned levels.

Buy above 144 Tgt 146.6,149 and 152 SL 143.5

Sell below 141.5  Tgt 140,138.5 and 136.5 SL 143.5

 

Reliance

RIL

Reliance is trading near its downward falling trendline resistance,200 DMA and formed a DOJI candlestick signalling reversal is on cards.For Positional trader Buy can be done  with close above 836 only for target of 847 and 858. Till 836 is not crossed stock will remain in Sell on Rise category.Intraday traders can use the below levels to trade

Buy above 826.5 Tgt 830,834 and 840 SL 823

Sell below 817 Tgt 814,808 and 803 SL 823

 

Reliance Capital

rel Cap

Reliance Capital is now near its resistance of Fibo fans and also near 50 DMA , Unable to close above 343 stock will fall down back to 322 odd levels.Close above 343 stock will head towards 356 and 364 levels in short term.

Buy above 343 Tgt 345.5,348 and 351 SL 340

Sell below 339 Tgt 335,330 and 325 SL 341

  • 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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