Nifty Intraday 17th february

Nifty continues to be sideways at resistive trendline.
I think nifty would spend today and most part of tommorrow
at this range only and make some pattern,A triangle or a abc
triangle is more justified if nifty has to spend more time.

Avoid trading till its
in range its just gonna
take stoplosses both sides.
Yes stock specific action
going on.









Regards
Rish

Nifty technicals 17th february

Hi friends,
                   According to my old post on nifty,I expected bounce back as long
as nifty held 5965 ,The nifty fell till 5984 and reversed.
Lets look at the present structure of nifty.

From the chart we can
see that the nifty has retraced
till the trendline resistance
If we trade above 6060
we have potential to go
towards 6100+ ,If we fail
to cross 6060 tomorrow
we should remain sideways
in the range 6060 to 6000.
Lets see how nifty performs


Tomorrow .

Regards
Rish

Mcdonalds Trade setup

Looking at the Mcdonald Technical chart ,It looks like it has finished a triple zigzag
correction and has reversed to touch higher levels.
Lets look at the chart.

 Ideal trade would be
to buy some now and
rest in dips stoploss
a tad below 93,
respective targetswould
be 97 and 99 .
Lets see how Mcdonalds
moves next week




Regards
Rish

Trade ideas we discussed

Hi Friends,
                    Lets see how the Trade ideas we discussed have done this week.
1)ONGC ,The trade idea was ONGC long for a target of 283 .
     Stock did 283 and retraced back.

2)Ultratech, The trade idea was ULTRATECH Short ,The trade was active
    below 1700 and it has already done 1650 ,Continue to hold this short for
    1600 with trail stoploss at short price.

3)Dr Reddy,The trade idea was Dr Reddy Long,The stock was expected to
   touch 2700 ,It exactly touched 2700 and reversed from there.

So over all all stocks moved in expected direction ,Apart from this ,I had
given two commodity trade ideas on Gold and Silver.
Both were expected to breakout towards upside ,They brokeout and ran up.
Gold long and Silver long. Gold took less time to run up but silver took
some time to find its way upward.