WEEKLY TRADING IDEA ON HINDPETRO

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BUY HINDPETRO ABOVE 532 TGT 545/560 SL 515

The HINDPETRO is showing correction since past few sessions and also sustaining above lower trend line support level. Currently it has formed reversal pattern on the short term charts .Overall trend of the stock is, now the stock is accumulating below the resistance mark of 540, further the stock is sustaining below the downward sloping trend line and is likely to continue the northward journey with the crossing of the resistance level; as it is managing to sustain above its 22& 50 and 200 days moving averages with the RSI of 45. One may initiate the long position in the HINDPETRO with the crossing of the 532 and can expect the targets of 545 and 560 in the stock, Support of 515 can be placed as stop loss in it.

DAILY CHART FOR HINDPETRO

Hold Short Or Sell At Rally Until Nifty Breaches 9649

TATASTEEL BULLISH ON 16 JUN 2017

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BUY TATASTEEL ABOVE 505 TGT 510/520 SL 498

Primary trend of the TATASTEEL  is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 505 ; as the stock is managing to trade above its 22 &  55 and 200 days moving averages with the RSI of 60, one may expect the targets of 510 in the stock if it manages to sustain above the immediate support level of 500.

DAILY CHART FOR TATASTEEL

MARKET CAUTIOUS !!! FED POLICY DISCLOSED TONIGHT

YESTERDAY’S RECOMMENDATION UPDATE:

Lupin near tgt 1200 made high of 1193.50

NOW total profit 10800 in just 2 lot

CONTINUE TO HOLD FOR TGT 1200

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Sensex and Nifty ended higher after a volatile session

Technically, Nifty has entered into negative zone but BankNifty is still in positive zone. Interestingly, both Nifty and BankNifty has formed INVERSE HAMMER candlestick pattern with long shadow and this suggest that market would see positive movement from here. Nifty hold 9600 levels on closing basis. Traders can go long in Nifty with strict stoploss

LUPIN FUTURE TRADING TIP FOR 14 JUNE 2017

BUY LUPIN ABOVE 1180 TGT 1200/1220 SL 1160

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LUPIN is looking weak on charts however it is accumulating above its major support level 1150 and recently has given breakout of its previous major resistance level 1180 on closing basis, now next resistance for LUPIN is of 1200; it is likely to experience fresh buying with the crossing of mentioned level, where one may keep the targets of 1200,1220 in the stock with the stop loss of 1160. Overall trend of the stock is bullish and after experiencing correction from the higher level. as it is managing to sustain ABOVE  its 22 days moving averages with the RSI of 42. Then one may keep the targets of 1270  in the stock with the stop loss of 1150.200 EMA seen as a strong resistance level at 1423.

DAILY CHART FOR LUPIN

KEEP AN EYE ON IIP CPI & WPI DATA THIS WEEK 13 JUN 2017

LAST POST TATASTEEL FUTURE CALL ROCKS ACHIEVED 1ST TGT 

CONTINUE TO HOLD FOR FINAL TGT 520

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EVENT-PACKED WEEK, NIFTY REVERSAL ONLY BELOW 9609 

Technically, The market is still in positive zone. Nifty would see reversal i.e. would enter into negative zone only if it closes below 9600. Market has witnessed strong resistance near 9650 levels and strong hands looks to book profits at this point of time. Nifty may open gap negative but some recovery would be seen after opening. Traders can initiate fresh short positions only if Nifty managed to close below 9600 levels as market is overstretched but until then traders can buy at dips. Overall, Nifty is trading in 9600-9700 range and traders can buy at dips and short at rally until this range breaks on closing basis. . The support for the Nifty is 9600-9590-9580-9550 and the resistance to the up move is at 9650-9670-9705-9715 levels.