From the Nifty 50 pack i’d like to IDFC(CMP : Rs132) and DLF(CMP : Rs 219) as both are trading in the buy zone for the couple of days. As per SDA2 trend trading system DLF turned to buy mode on 11th May 2011 since then it is trading sideways with trailing support coming near to Rs 213. And also IDFC is since buy mode for the last three trading sessions with trailing stoploss coming near to 127.4. I would like to recommend a medium term buy for a profit target of Rs240(DLF) and Rs 150(IDFC).
Place your stoploss just below the trailing supports i.e below Rs 213(DLF) and Rs 127.4(IDFC) respectively
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
SDA2 Charts for IDFC and DLF for medium term buy
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