1. DLF
Sell DLF, TARGET Rs. 146, 142 and STOPLOSS Rs. 157
Why to Sell DLF?
It has a false breakout above the levels of Rs. 160. Price
went above Rs. 160 and came back yesterday with huge volumes forming a bearish
candlestick pattern on daily and as weekly charts.
2. ICICI Bank
Sell ICICI Bank October Futures at Rs. 1010, TARGET Rs. 900
and STOPLOSS Rs. 1050
Why to Sell ICICI Bank?
The chart structure of ICICI Bank clearly shows you a very
strong down move in case of Friday's trading session and going forward we
recommend shorting the stock in the October series contract.
3. JP Associates
Sell JP Associates October Futures below Rs. 39, TARGET Rs.
33 and STOPLOSS Rs. 41
Why to Sell JP Associates?
In the month of September we have seen a strong rally in
case of the stock, but the weekly chart structure is still a very strong lower
top lower bottom cycle.
1. Ambuja Cements
Buy JP Associates above Rs. 193, TARGET Rs. 206 and STOPLOSS
Rs. 186
Why to Buy Ambuja Cements?
The stock is in a strong uptrend since first week of
September and in Friday's trade the stock gave a breakout from an inverted head
and shoulder pattern. It also closed above its 200-day moving average. It is
expected that this stock will outperform the entire cement pack in the
near-term.
2. Tech Mahindra
Buy Tech Mahindra above Rs. 1300, TARGET Rs. 1380 and
STOPLOSS Rs. 1270
Why to Buy Tech Mahindra?
The stock has been in a bull market since the month of May.
In last two trading weeks it went through a mild correction, but it has found
support at its 50-day moving average. Also on the daily candlestick chart the
stock has formed an inverted hammer which suggests a likely reversal in trend.
3. Reliance Infra
Buy Reliance Infra, TARGET Rs. 422, 424, 428 and STOPLOSS
Rs. 400
Why to Buy Reliance Infra?
It has broken an important level of Rs 400 after four months
with huge volumes forming bullish candlestick pattern on daily as well as
weekly charts. This is expected to move continue.
