Saturday 12 April 2014

WEEKLY STOCK PICKS- Bet on Best Stock with Profit Play (14-APRIL-2014)


1. SELL CENTURY TEXTILE @ 385.35 SL 405 TG: 365

Trading near to Channel Top, Chance of Strong Reversal is on cards. Any breakout out of Channel Pattern will force us to Re-Analyze Charts. Hence Keep A strict Stoploss of 405 



2. BUY DR. REDDY  (75% QTY) @2577 CMP AND (25% QTY) @ 2530  SL 2450 TG: 2650

Trading Near to Strong horizontal Support @2520- 2530 and a sharp bounce towards higher Level @2580 is Seen in the Stock. Trading at lower End of Channel Pattern. 



3. SELL INDUSIND BANK @ 490 CMP SL 525 TG: 450

On Weekly Charts Strong Resistance @ 510-515 and a huge selling is seen at those levels. Stock may Correct more,  can head towards immediate Support Levels @ 450. Bank Nifty future has not yet broken its Previous highs of year 2008. Nifty future is trading up Approx 300 points from its 2008 highs. Shows Divergence in Nifty and Bank Nifty. Shows weakness in banking Sector.