Friday, June 3, 2016

Price Action Trading: 03-Jun-2016

Nifty (spot), if it is unable to cross 8250, then we may see it slowing down. the important level to watch will be 8150-8160, if it breaks this level then expect correction with first target at 7950-7960 and second target at 7810-7800.
7750-7760 is crucial support for Nifty rally. So we are talking about a good 500 point range for Nifty, i.e 7750 to 8250

However if Nifty remains afloat near 8000 levels then the next likely target could be anywhere near 8490-8590

RCOM: Watch this stock, currently trading near 50, if it sustains above 45 level then it is likely to go upto 59 within a month giving a good 18%+ returns.


Wednesday, June 1, 2016

Price Action Trading : 01-Jun-2016

Vedanta: stock closed at 108 yesterday (31-May-2016)
Today the trading range could be anywhere between 104-114.

if the stock opens near 108, keep buy order at / near 105 and exit part qty at 109 and remaining qty at/near 112-114. stop loss will be at 100

if the stock opens to cross 110, keep buy order at / near 109 and exit part qty at/near 114 and rest at/near 117. stop loss will be at 107

Option data shows stock is trying to go upto 119-120 with support forming at 90-100