Trade long only if market sustains 4030 tomorrow.
If we crash under 4030 it will be a bloody day. A lot like what followed after 3970 was broken last time can repeat this time. The market is not in a significantly better position on the fundamentals. Still a p.e of 20-21 like last time at this 4000 area.
Boe has raised rates , watch how world markets react.
The goal of this trading system is to take quick profits in volatility
Book half at t2, full exit at t3.
If you are mega bullish can keep a small qty for a potential w5 breakout which might or might not come.
If you are bearish you may even chose to be short under the support levels. But the targets would be unclear. Since right now the system doesn't allow shorting.
In any event if stock closes under support then exit.
Stock Name: TATAPOWER
Buyarea=571.912
Support1 :581.94 Support2 :571.34
Resistance1:600.61 Resistance2:618.68
Target1:580.945 Target2:589.979
Target3:600.819
SL1:568.298 SL2:553.845
System: Trend follower)
Stock Name: ABANLOYD
Buyarea=2371.36
Support1 :2,430.83 Support2 :2,368.99
Resistance1:2,518.19 Resistance2:2,610.29
Target1:2417.41 Target2:2463.46
Target3:2518.72
SL1:2352.94 SL2:2279.26
Stock Name: AMTEKAUTO
Buyarea=383.667
Support1 :383.28 Support2 :380.23
Resistance1:404.06 Resistance2:416.89
Target1:390.08 Target2:396.493
Target3:404.189
SL1:381.101 SL2:370.84
System: Trend follower)
Stock Name: REL
Buyarea=510.639
Support1 :512.95 Support2 :510.13
Resistance1:531.49 Resistance2:544.68
Target1:517.232 Target2:523.825
Target3:531.736
SL1:508.002 SL2:497.454
Sl to be employed on closing basis,
Thursday, May 10, 2007
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