Market was volatile as expected, still we could clock in good gains today.
- Tata Steel - Buy above 284.5 for a target of 287-88 with SL at 280. For positional traders a move above 288 will give 293-300 in next few days, keep SL for positional longs at 260. SL Hit. Experienced traders would not have traded this, since there was a previous high made in the same day at 285.40. Still for the sake of calculation, I take this as SL Hit, loss of 5000/-
- TCS - Buy above 1840 for a target of 1850 with SL at 1825. Sustaining above 1850 could give 1860-70 with an SL at 1840. Both targets hit. Profit of 7000/-
- Tata Motors - Seems to go upto 310-320 in the short term. For intraday, buy above 305 with SL at 299 for a target of 308-310. Did not trigger, days high was 304.3 !! See how close.
- BHEL - Buy above 118 for a quick profits of 1-2 points. Keep target of 120 with SL at 114. Both targets hit, profit 2000/-
- HCL Tech - Buy above 955 for a target of 960 with SL at 945.Target achieved 2500/-
- ONGC - Buy above 280 for a target of 283-286 with SL at 276.Did not trigger, days high was 279.75 !!
- L&T - Buy above 743 for a target of 748-50 with SL at 734. Target achieved, 1750/-
- SBI - Sell below 1538 for a target of 1520-10 with SL at 1567.Did not trigger, days low was 1545 !!
- Cipla - Sell on rise to 398 with SL at 405 for a target of 394. Fresh sell below 391 for a target of 388-86. Our sell on rise strategy worked well for Cipla. Days high was 403.45. Target achieved. 4000/- profit.
- Ranbaxy - Sell below 384 for a target of 380 with SL at 391. SL Hit Loss of 3500/-
- Bharti Airtel - Sell below 303 for a target of 299 with SL at 309. Did not trigger.
All profits/losses calculated on one lot. However, our assumption is that followers trade in two lots.
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