SELL NMDC CMP 176-177 TARGET 165- 160 SL 180 CLOSING BASIS

  POINTS TO FAVOUR OUR TRADE

NMDC HAS BROKEN DOWN FROM CLASSICAL HEAD AND SHOULDERS PATTERN.
CURRENTLY IN PULLBACK MODE.
NOT ABLE TO PIERCE NECKLINE IN LAST 4 TRADING SESSIONS.
LIKELY TO ACCELERATE FALL BELOW 172.
VOLUME PATTERN SUGGEST HIGH VOLUME BREAKDOWN FOLLOWED BY LOW VOLUME PULLBACK THAT WONT LAST LONG.

Buy IDEA AT 146-147 TARGET 158-164 SL 145 CLOSING BASIS

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 POINTS TO FAVOUR OUR TRADE

IDEA HAS BROKEN OUT FROM WEDGE AFTER A LONG CONSOLIDATION OF 6 MONTHS.
RSI HAS TAKEN OUT PREVIOUS SWING HIGH OF 65.
VOLUME PATTERN SUGGEST STRONG BREAKOUT FOLLOWED BY LOW VOLUME THROWBACK.
PATTERN TARGET ARE AT 170

UPDATE -HOLD L&T FOR TARGET MAINTAIN TRAIL INTRADAY SL 1664

SELL L &T at CMP = 1686-1694 TARGET 1625 ,1600 sl 1715 CL0SING BASIS

POINTS TO FAVOUR OUR TRADE


1. L&T CONFIRMED DOUBLE TOP B@1776 BY BREAKING VALLEY BETWEEN TWO TOP AT 1625.
2. AFTER A BRIEF DECLINE ITS STARTED ITS PULLBACK AND NOW AT 1686.
3. NOW AS DOUBLE TOP IS FORMED AFTER SIGNIFICANT UPTREND IT SEEMS THAT SHORTERM DOWNTREND COULD TAKE A CHANNEL SETUP.
4. TOP OF THIS CHANNEL IS AT 1716 AFTER TOUCHING IT OR BELOW ITS LIKELY TO RESUME ITS DOWNWARD JOURNEY.
5. VOLUME PATTERN SUGGEST HIGH VOLUME BREAK DOWN FOLLOWED BY LOW VOLUME PULLBACK.

  

UPDATE- RCOM hits target , HCL TECH hits SL

Buy HCL tech at CMP =1496 target 1545 in a week , sl=1460 closing basis

Points to support our trade

1.Hcl tech has given breakout from head and shoulders patterns with neckline at 1460.
2. It has retested neckline and is moving towards its target of 1590 .
3. Short term traders can get levels of 1545 next week.
4 It closed at day high in fridays trade.

BUY RCOM cmp =122-123 target 128-132 3 trading SL=120 CLOSING BASIS

Points to support our trade

1. 14 day RSI oversold

2. At major support line as on charts,

3.  Fridays intraday chart suggest inverted head and shoulder confirming that it

     has taken support at support line shown on chart.

4. Head and shoulders target already achieved so bounce is due.