Technical calls IDFC, Educomp, Tata Motors

Book 50% profit in IDFC at 124.50, trail stop loss around 118 and wait for target 129 to book full profits.

Book 50% profit in Tata Motors at 172, trail stop loss around 165 and wait for target 177 to book full profits.

Book remaining 50% profit in Educomp at 278( remaining 50% profit already been booked yesterday at 277)

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NIFTY Call: - Book 50% Profit in Educomp

Book 50% profit in Educomp @ 278 and trail Stop Loss to 270 for the Target of 288.

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Technical View for week 10-14 Oct 2011

We had gap up opening on last Friday, Nifty closed near 4900. In our last blog, we clearly mentioned that there is one strong probability of double bottom formation in Nifty which is good reversal sign for medium term.
If that to happen, Nifty has to mover above 4940-4950 with good volume.
Open interest has increased with price appreciation which is one of the positive thing for bull market, and this happened first time in last 20-25 days.

Educomp will be bought above 262 with strict stop loss below 250, book profit near 288-290.

IDFC is range bound from last few days, it has to give break out above 118 for next rally. It can touch 124-129 level in short to medium term, stop loss for IDFC will be around 112.

We are positive on other stocks like Tata Motors, JP Associates, DLF also, recommendation for these stocks available only for paid subscribers.

Happy Trading ....

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