For intraday consider support at 4465 below which immediate target is 4420. Upper resistance is at 4515 and 4545. Only a close above 4545 should be considered positive.
DLF is making an intersting pattern and a break above 540 should trigger further buying for a target at Rs 615/-. Keep stop initially at 490 and on break above Rs 575it can be trailed to Rs 520/-.
Longer Term investors too can buy the break out and keep stoploss at Rs 460 and hold for higher targets.
Happy Trading
CA Rajiv D Khatlawala
4 comments:
Sir,
Regarding gap, On friday there was gap down. Is'nt it that Monday's gap up filled that gap??
Piyush
hi rajiv
one more analyst (EW Analyst) is giving a tgt of 330 again based on chart - he is yet to give the wave levels.
-Karthikj
Dear Mr. Rajiv,
It is very nice to know that you will be leading a new role at Jhaveri Securities.
I wish you all the best and I'm sure, many more will be benefited at Jhaveri, with your experience and knowledge.
I was a regular reader of your blog and enjoyed reading your crisp and simple technical analysis.
Kindly keep blogging, whenever you find time.
Wishing you all the best, once again.
With Regards,
Dear Praveen,
Thanks a lot. Surely I shall continue to blog, though my frequency may be slower than earlier. I hope you all could read the pre-cursor on Currency futures!.
I expect, that is the next thing for traders !!
Have a nice day!
CA Rajiv
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