Daily Trading Strategies 15/02/2017
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Daily Level
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Bank Nifty
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R3- 20417
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Buy
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Buy above 20308 with Target-20357/20417 with Stop Loss-20283.
Note:
If open price is below 20308 than order is active
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R2- 20357
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R1-20308
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Resistances
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Support
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Sell
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Sell Below 20164 with Target- 20115/20055 with Stop Loss-20189.
Note:
If open price is above 20164 than order is active
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S1- 20164
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S2- 20115
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S3- 20055
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Hindalco is trading almost near life time high where we can see a Doji and Doji star formation with a confirmation candle, Doji and Doji Star are completely a reversal signal for short period of time and voulme also decline for past two weeks (low demand on top). If stock open on Monday near Friday close or below and able to break 213.25, this reversal trend will continued, Try to apply this strategy with volume below 213.25 and immediate support levels are on 210.35/207.30 and strong support 205.20 level and resistance levels are 216/220.20/224.80
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