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Investment Idea: Buy Exide Industries; Sell Reliance and IndusInd Bank

Way2wealth | 02 Jan, 2018  | Follow Author | Add to my Favourites 
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The opening session of new calendar year started on a flat note and the bears decide to enter the market. As the day progressed, the bears put tremendous pressure on index which led to sharp sell-off and Nifty index ended the session near the lowest point of the day. In our previous update, we have highlighted the placement of RSI (14) on hourly chart which reversed from 60 levels. Looking at the hourly chart, index confirmed its breakdown from bearish head & shoulder pattern and broke the last week candle low. Now, 10380/10320 likely to act as an immediate support whereas 10460 / 10500 are near term hurdle.

Stocks For Today

Name              Entry                            Target        Stop  loss

EXIDEIND        Buy At cmp  219.75        225               217

RELIANCE       Sell At cmp 909.75         880               923

INDUSINDBK    Sell Around 1627           1573            1650.50

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900.50 +0.00
889.80 -5.70
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Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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