Larsen has been correcting after its result came forming swing high of 1652 and after swift fall has seen a range contraction forming an descending triangle which is bearish chart pattern.
Buy above 1399 Tgt 1409,1420 and 1433 SL 1395
Sell below 1385 Tgt 1375,1360 and 1340 SL 1395
Buy above 780 Tgt 785,790 and 795 SL 775
Sell below 766 Tgt 760,755 and 748 SL 771
Ranbaxy has been trading near the Fibo Fans resistance and unable to cross the high of 385 from past 6 trading sessions. Trading very near to Fibo Spiral number of 377, break above 385 can see 411 in short term and breakdown below 377 can see Stock falling to 343 in short term.
Buy above 386 Tgt 390,395 and 400 SL 381
Sell below 377 Tgt 374,370 and 364 SL 381
- 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.