Indian Stock Market Weekly Pick - CAIRN

CAIRN INDIA LTD:




Cairn looks very good on charts.

Cairn can be bought at 344 rs for a targets of 365 rs. This would need a holding time frame of 1 -2  weeks.


As the broader market is at critical resistance level, it is advisable to maintain a strict stop loss of 


333 on closing basis.

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Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss

Indian Stock Market Weekly Pick

CORPORATION BANK


Last week our weekly pick was GE SHIPPING. Let us check what happened to the stock.


We had asked readers to short the stock between 332 and 339 for target of 311.


Stock made a high of 336 and sharply reversed to 312 . 


A whopping profit of 25,000 rupees.


This week we are taking on corporation bank. Last week the stock bounced back from historical support levels. 


For this week CORPBANK will have strong resistance at 533 (Stock Balance Point) and 550 levels.


Break out point is 563. Break and trade above 563 will take the stock to 605, 619 and 650.


Targets for reversal from resistance or balance point levels : 485, 446.






NEXT: Nifty Weekly Outlook






Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss