Intraday trading in Indian Stock Market with application of Channels, Moving averages and momentum indicator!
Intraday and Positional services focuses on providing high accuracy trading calls with application of objective technical tools. We focus more on objectivity rather than subjectivity which is helping our subscriber to earn and learn from the stock market. From last few days, Nifty is in correction mode and in this down move crackdown in Midcap and Smallcap stocks was witnessed. We follow the price along with advanced technical tools which has helped to generate following trading calls in last few days:
SHRIRAM TRANSPORT FUT SELL AT CMP 981 SL 1003 TGT 950 – Call was given on 23rd May 2017 at 9.29 AM
SHRIRAM TRANSPORT FUT SELL CALL GIVEN BOOK PART TP AT 968 AND TRAIL STOP TO COST – Booked part tp at 9.57 AM
SHRIRAM TRANSPORT FUT SELL CALL GIVEN TARGET ACHIEVED BOOK PROFIT AND EXIT AT CMP 948.25 – Achieved target on 24th May 2017 at 9.42AM
Shriram Transport Finance 60 mins chart: (Anticipated in the morning of 23rd May 2017)
Shriram Transport Finance 60 mins chart: (Happened on 23rd May and 24th May 2017)
Wave analysis: Prices have been following the channel very well. In the session of 23rd May prices reversed from the channel resistance. Post that it took out the pivot low which indicated that minor wave b completed and next leg on downside has started in form of minor wave c. 100 periods EMA was acting as resistance as per polarity reversal.
WOCKHARDT JUNE FUT SELL AT CMP 601 SL 621 TGT 570 – Call was given on 24th May 2017 at 12.37pm
WOCKHARDT FUT SELL CALL GIVEN BOOK PART TP AT 592.70 AND TRAIL STOP TO COST – Booked part tp at 1.23pm
WOCKHARDT PHARMA FUT SELL CALL GIVEN TARGET ACHIEVED BOOK PROFIT AND EXIT AT CMP 570 – Achieved target on 25th May 2017 at 12.42PM
Wockhardt Pharma: (Anticipated on 24rd May 2017)
Wockhardt Pharma: (Happened on 24th May 2017)
Wave analysis: Pharma stocks have continued to move under pressure. Wockhardt broke below the consolidation pattern and resumed the down move in form of minor wave v. MACD showed sell signal which indicated further negativity. 10 periods EMA continued to sustain below 30 periods EMA suggesting weakness.
BRITANNIA FUT SELL AT CMP 3564 SL 3630 TGT 3460 – Call was given on 24th May 2017 at 9.42am
BRITANNIA FUT SELL CALL GIVEN BOOK PART TP AT 3530 AND TRAIL STOP TO COST – Booked part tp at 9.55am
Britannia 60 mins chart: (Anticipated on 24rd May 2017)
Britannia 60 mins chart: (Happened on 24rd May 2017 )
Wave analysis: Britannia formed lower highs lower lows pattern which indicated that downside correction has started. This also suggested that minor wave c has started on downside along with break below neckline of H&S pattern.
Above mentioned trading calls clearly indicates that combination of advanced and basic technical analysis has continued to work well. However there are also the times where trading becomes challenging due to the change in market dynamics. Hence one should trade with strict risk management. Subscribe to Intraday and Positional services for Equity, Commodity, Currency markets and trade with objective technical analysis.
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