MY OBSERVATION ON READER’S QUERY
FOR INVESTOR
ITC LTD ,PAGE INDURTRIES
& EICHER MOTOR LTD :-These are portfolio stocks and should be viewed in at least 5 to 10 years time frame and not on
daily basis if you are hard core investor .For investor these stocks should be
accumulated on every reasonable decline. I would like to add here that, It is also important
to see how the stocks are technically placed too so that one can suitably time
the entry & exit points for maximum gain and protection of capital. Technical
view on these stocks are given hereunder for traders. Investor are advised to buy on decline.
TECHNICAL OBSERVATION
1.ITC LTD:- Technically
it is in the range of 339---388 now and
expected to oscillate within it for some time and breakout on either side will
decide which way it want to go ,break below 350 level will give first indication of some weakness
and below 339 it will become potentially weak .Since one advance technical
parameter is showing some sign of weakness therefore I would personally prefer
to avoid long call in the stock now ,but traders can try both long and short call
at proper points with an adequate stop loss. Please use support and resistance
levels (given here under) as entry , exit and stop loss point for your trades.
SUPPORT:-348 / 343.45 / 340 / 326 / 311 / 307 & 285.
RESISTANCE:-360 / 365 / 380 / 388
2.PAGE INDUSTRIES LTD:- Technically looking good and seems consolidating
here and after that it is expected to continue its up move. Please note it has
a strong support at 8600 & 8200 and if it break below 8600 and stays then
it will be first sign of some weakness and break below 8200 can trigger reasonable
to moderate correction in the stock, chances of which are looking slim as of
now, therefore I still suggest to buy on
dip till it breaks 8600 and stays. The long term up trend threatening point is
at far below at 7450.Please use support and resistance levels (given here under)
as entry , exit and stop loss point for your trades. Do not trade without stop
loss.
SUPPORT:-8611 / 8205 / 7566 / 7475 / 7300 & 7101.
RESISTANCE:-9187 / 9938 / 10060 / 10300 / 10760 & 11890.
3.EICHER MOTORS LTD:- Technically exhibiting
good strength therefore buy on dip is suggested but since the strong bottom for it exist far below at 10727.so avoid fresh long call if
it starts trading below 11970 and below 11500 avoid long trade completely
because then it may go in for deeper correction. Please use support and
resistance levels (given here under) for entry , exit and stop loss point for
your trades. Do not trade without stop loss.
SUPPORT:-12299 / 10860 / 10826 / 10727 / 10634 & 9711.
RESISTANCE:-12825 / 13210 / 13344 / 13570 & 14650.
4.ABAN OFFSHORE LTD:- I consider it absolutely a trading stock .Technically it is
looking weak but now it is in a pull -back mode and may give some rise from here. The short
range for it is now between 681—590 and the long range is between 750--590.Since
it is technically weak I therefore suggest to book at least part profit in your
long trade on the rise, if it moves above 681 and stays then hold the balance
position with a stop loss of below 670, if it does not then get out of the long
position completely. I would prefer to avoid fresh long call completely but aggressive
trader can still try it now with a stop loss of below 620. Please use support
and resistance levels (given here under) for entry, exit and stop loss point for
your trades. Do not trade without stop loss.
SUPPORT:-585 / 567 / 540 / 533 / 490 / 459 & 369.
RESISTANCE:-652 / 668 / 686 & 728.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the
outcome of the trade you enter based on the above view.
Note:
Price stated here is of spot market
Contact me for strategic guidance to enter
and exit the trade
