Tata Steel: Gave a breakout with wide spread and big volumes, triggering longs. Retested the channel resistance twice successfully, which is good. Hold longs with the stop loss below Rs.366 - Filter.
Reliance Capital: Also gave a breakout with wide spread and big volumes, triggering longs. But, after that it formed a Lower-High pivot and broke down back into the channel, threatening the up move! Hold longs with strict stop loss (Choose your pick for stop loss depending up on the risk appetite as shown in the below chart)
ICICI Bank: Also gave a breakout with wide spread and good volumes, triggering longs, but later on after the first successful retest it started moving sideways forming candlestick dojis with high volumes indicating the selling pressure. Hold with stop loss (first stop loss is below pivot low and second stop loss is just below the gap, as gap gives good support. Choose the stop loss depending up on the risk appetite) below is the 5 min chart:
2 comments:
Tisco and Relcap is relatively stronger. and maam please check hourly chart for IDBI, it has given a fresh brkout. A diamond pattern is there I guess.
Thanks Satyam. Tisco achieved the target very well, but RelCap and ICICI struggled a bit. I stopped out with profits in RelCap and ICICI today. Didnt want to carry positions over weekend.
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