Sell Axis Bank at CMP (Rs 1997) Target 1900 SL 2020.
- Stock is at long term trend line resistance on weekly chart
- Slow stochastic (14,5) has a bearish cross over
- RSI negative divergence
Buy Wipro above 561.
- Stock has closed above its trend line resistance
- Convergence of Moving averages indicating bullish move
- Positive Stochastic crossover
- Target 570 & 590, SL 554
Buy Bajaj Auto at CMP 2081 Target 2200 SL 2052
After a quick upmove, IDFC has touched the resistance today at 165 and
has started its downward journey. Sell IDFC at CMP (Rs 160) for target of 144
and 132 (23.6% and 38.2% Fibonacci Retracements repectively). SL 165.
A very good opportunity to enter Bajaj Auto at CMP 2156 Target 2200 and 2300
Analysis:
1. Stock is reacting from 50% Fibonacci retracement levels.
2. Stock has reversed at 50 DEMA
3. Previous resistance acting as support.
4. Stock has reversed with high volume.
Tata Steel is giving a good opportunity to enter at current levels (CMP 513).
1. Stock has
- taken support at 50 DEMA
- reversed at trend line support.
- retested its earlier resistance and moved up.
- reversing at 23.8% Fibonacci retracement
- shown a probability of giving a target of 723 based on Elliott Wave Analysis.
Jindal Steel is a fantastic Buy above 285. Stock is at 50% Fibonacci Retracement and also at 200 DEMA support. Target 310, 320 and 330 within next 15 days.
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