Fanatic's View !!!

[FanaticTrader]

I Second your opinion on Relcap.

As far as I am concerned, RelCap has significant amount of Bullish pressure underneath. I won't be too surprised if the stock trades in 4 digit figures in next 3-6 months. This remains valid till Relcap is able to stay above 760 levels.

Tc

Very ture...With all the news around RelCap, lower levels (support zone around 770 levels) can be used to re-enter.

 

[FanaticTrader]

Following is Nifty (Spot) 30-min Intraday chart. Index seems to be trading in downward sloping channel and has witnessed a sharp recovery in Friday's session bouncing from lower trend line. Nifty faces stiff resistance in intraday trade at 6044 level which is confluence of downward sloping trendline joining tops made by Index on 25th October and 28th October and 50% of Nifty levels falling from 6151 till 5937. Break of 6040-6044 range can see Nifty testing 6066 whereas break below 5935 can drag Index to new lows

 

[FanaticTrader]

Following is Ranbaxy (Cash) 30-min Intraday Chart. Just posting to share with fellow forum members as it kind of formed exact mirror trade on either side of vertical line :clap:

 

[FanaticTrader]

Every one was talking about KS Oils so I thought to put chart for the same. At CMP KS Oils has not only given a breakout at higher levels it has also formed classic 'Break away Gap' on daily charts (accompanied by high volumes). Also the level of 60.50 (shade below closing price) has been tested at least on 4 occasions so this becomes a critical level to watch. Weekly charts also signify bullishness as it forming rounding bottom pattern. Good time to enter long in this counter keeping SL of around 58.2 for levels of 62/67 in short time frame

 

[FanaticTrader]

Educomp is now trading at very important support levels. Stock has taken beating from 648 levels down almost 100 points now trading at crucial levels of 540 levels which is also the golden fibo ratio of upmove from 440 levels to 640 levels. May be this is a contarian view on the same but if long positions are here risk is very limited as close below 540 levels can be used at SL for the counter which will also confirm completion of rounding top pattern on daily charts. Educomp has formed Bullish Harami candle stick pattern

 

[MurAtt]

BUT do check the Weekly and u will see an entirely different picture

 

[FanaticTrader]

BUT do check the Weekly and u will see an entirely different picture

Very true SM Bro...but as I mentioned in my posts earlier that it completely a contarian view - Just looking at things little differently.

 

[SwingKing]

Very true SM Bro...but as I mentioned in my posts earlier that it completely a contarian view - Just looking at things little differently.

Though SM bro is right in what he said.

But I support your view too as "If" one gets a contrarian call right, there is tremendous amount of money to be made.

Tc

 

[FanaticTrader]

This is simply going back to basics of TA. The image above is daily chart of Glaxo on NSE. If we draw trendline connecting the closing levels of 16th September, 01st November & 4th November the price on the counter has taken perfect trendline support and closed well above previous high of 2246. With crossover of +DI and -DI and ADX above important level of 25, longs can be initiated above 2275 for immediate targets of 2300-2310 (Next resistance zone). The stop in this case will be placed at breach of trend line which has acted as successful support in past. The only two factors which need to be taken into consideration is that SL is little deep and RRR is not very favorable and ADX is falling and heading towards "no-trade" zone.

 

[SwingKing]

Glaxo

Glaxo in my opinion is a stock to chase. It is attractive for a Swing chase over the next 2 months. But one should be prepared to see some whipsaws. With the correct sort of stop losses and re - entries one should be able to make good money on this stock in near term.

Tc