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Monday, 11 March 2013

Which stocks to trade today 11 March

Dear Readers
Please read my weekly outlook for the markets here.
Markets – What to expect next week 11 Mar

Sector Trends as of 08 March

All Sectors except PSU Bank, Metals and FMCG have become a buy in daily charts. All sectors are in buy mode in hourly charts.
On 11 March, I will have the following stocks in my watch list.

1. ICICI Bank. Buy above 1145 for a target of 1150. On crossing 1150, the stock could move up to 1163 levels. 1130 is the SL for all longs.
2. SBI – Buy above 2220 for a target of 2230 and above. If SBI sustains above the significant resistance of 2230, then 2260 is possible in coming days. 2200 is the SL for all longs.
3. L&T – Above 1500, 1524 is the target. SL for long is 1490.
4. Cipla – Above 393, 395, 397, 398 are the targets for today and next 2-3 days. SL is 389 is sustained below.
5. ONGC – Above 328, 331 is possible. Once long, maintain SL as 324.50.
Wish you a profitable trading day.
Any significant news which affects individual stocks or  overall market direction will invalidate the technical analysis behind the above views. In such a situation use real time charts to trade.
All the views and contents mentioned in this blog are the personal observations of the author and is in no way a recommendation for the readers to enter into trades of stocks/futures. The author do not accept any liability/loss resulting from the use of any content from this blog. Any act of trading performed by readers should be at their own discretion and neither the author or the sources mentioned in the blog will be responsible for the outcome.


Readers, there is a negative news on L&T. Better to avoid longs even if levels are met.


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