2 'Sell' and 1 'Buy' Intraday Picks for 8th January Trade

Published 08-01-2019, 12:47 am
Updated 09-07-2023, 04:02 pm

(1) Bandhan Bank

The stock has formed a Bearish Engulfing Candlestick on Daily Charts in the last trading session. Bearish Engulfing pattern signifies a strong selling pressure from higher levels and the strong presence of bears during the session.

The immediate support the stock is placed at 495.30 and any break below this level may again trigger a fresh supply in the counter. Stop Loss for the trade may be placed at 500/-


(2) Eicher Motors:

The stock has broken down from a trading range which has its base at around 20,000/-. The volumes supporting the fall from the support zone of 20,000-21,000 have been huge which further indicates that strong hands are exiting this counter.

It is also trading below the major support levels of 20 and 50 SMA on Daily charts which shows strong presence of bears in this counter.

The intraday Pivot support for the stock stands at 19,809/- and any break below this level may trigger fresh supply in the stock. Stop Loss for the trade may be placed at 19,905.

(3) Dish TV:

The stock is in a bounce back phase and has surged with good volumes in the last trading session. A zoomed in look at hourly charts shows candles that are formed above 9 and 15 EMA and indicate a strong trend in motion. Momentum Oscillator RSI is also rising and reaching towards its overbought zone indicating prevailing bullish bias.

The stock may be bought above 42/- and stop loss for the trade may be placed at 41.40/-.

*All levels mentioned are of cash segment.

Disclaimer: All views expressed in this site are for reference only. Trading involves substantial risk which may also involve partial or complete loss of capital. Readers must consult their own investment adviser before taking any investment/trading decision. We hold no financial liability to any user on account of use of information provided on this website.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.