In CNBC-TV18's popular show Bull's Eye, Meghana V Malkan of malkansview.com shares her trading strategies for the day.
One can buy Ranbaxy Laboratories. The stock seems to have good support at Rs 585-590 levels, momentum indicators are also at the respective support levels. Hence a buy call with a stoploss of Rs 590 for a target of Rs 615.
One can sell Reliance Capital. The stock is into lower top and lower bottom formation on daily charts. Momentum indicators are also bearish, prices began tagging the lower band of the Bollinger band. This calls for a sell on Reliance Capital with a stoploss of Rs 535 for a lower target of Rs 495.
One can sell CESC. The stock closed at an all time high levels yesterday. There was no follow-through in today’s trading session. Hence a sell call with a stoploss of Rs 775 for a target of Rs 748.
One can sell Adani Enterprises. The level of Rs 490 was a good support in the stock. It has closed at that level in yesterday’s trading session with a bearish candlestick pattern and volumes have been above average. Hence a sell call with a stoploss of Rs 500 for a target of Rs 475.
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