TRADE IDEA ON STAR FOR 28 JUNE 2017

FOR LIVE MARKET CALLS PING ME
ON 09039542248
sell star below 935 TGT 922/915 SL 955

STAR , after showing correction from the higher level, now after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the negative movement with the breakout of the pattern at the support levels of 935 ; as the stock is managing to trade below its 22,50 and 200 days moving averages with the RSI of 40, one may expect the targets of 922/900 in the stock if it manages to sustain below the immediate resistance  level of 955.

DAILY CHART FOR STAR

SELL ON RISE with a stop-loss at 9,450

The outlook is bearish for nifty. Resistances are at 9,550 and 9,580. A fall to 9,500 looks likely now. Short-term traders can make use of bounces to go short in between 9580- 9,550. Stop-loss can be placed at 9,620 for the target of 9,510-9470. Revise the stop-loss lower to 9580. The downside pressure will ease only if the nifty manages to rise past 9,580-9600 decisively.