SELL SOBHA @ 506 & EXIDIND @ 221.80
So here are the Latest Stock Trading Tips from the Stock Market.
Indian Stock Market is running at very high evaluation. NIFTY 50 at 11752.80 with RSI at 65.63. NIFTYBANK at 30223.40 with RSI at 61.14. On Thursday 18th Apr’19 NIFTYBANK formed a Bearish Engulfing Pattern which is a reversal sign now and indication to hold your horses on the BUY side. So be very cautious while trading for few days.
Sobha Ltd. is an Indian multinational real estate developer headquartered in Bangalore, India. which works in the business of construction, development, sale, management and operation, townships, housing projects, commercial premises and other related activities.
Traders from short term perspective, can look for an opportunity with down side on the stock. Stock was in uptrend since 18 Mar’19 till 16 Apr’19. After that, On Thursday, SOBHA has formed a Bearish Engulfing Pattern and dropped by 2.66%. Hence, with Bearish sentiment in the market, and the pattern indicates that this will fall for few more sessions. Relative Strength Index of the stock is also moving towards negative zone. As a result, Risk-to-Reward Ratio for this opportunity is 1:2.2 which is an excellent opportunity to trade and earn money.
Current Price : 506
Target Price : 496 & 490
Stop Loss : 513
EXIDE INDUSTRIES LIMITED
Exide Industries Limited is a storage battery producing company and a life insurance company headquartered in Kolkata, India. It is the largest manufacturer of automotive and industrial lead-acid batteries in India and fourth largest in the world. Yes, you hear this right!! Exide has now entered into Life Insurance sector as well.
Traders from short term horizon can grab this opportunity to sell Exide Industries Limited. Because, this stock was gaining from 4 Apr’19 and formed a Bearish Engulfing Pattern on Thursday, 18 Apr’19. With Relative Strength Index in above Neutral zone and above than average volume on sell side shows the Selling pressure in the market. Hence, traders can earn profit from this short term opportunity.
Current Price : 221.80
Target Price : 217 & 214
Stop Loss : 225
Note: Above mentioned Stock Tips are based on Technical or Fundamental Analysis however, Stock market is always volatile and risk is always included in the investment. Author is not liable for any losses.