BHEL: (Click here to see graph - BHEL daily)
BHEL – This stock has been range bound between Rs 1,890 & 1,950; it"s trading between these ranges for the last 20 trading days. The stock has recieved big support at Rs 1,890, even after the 20th big fall it manages to trade above Rs 1,890. Therefore, a close above Rs 1,950 will take this stock to Rs 2,020 or even to Rs 2,070; stop loss should be maintained at Rs 1,980
For intra-day: (Click here to see graph - BHEL intra-day)
Buy above 1,925. The Stop loss should be at 1,910 and Target will be at Rs 1,938 – 1,952
Bank Nifty: (Click here to see graph – Bank Nifty )
Last couple of days banking stocks are given big support to nifty, even after a fall bank - nifty manages to close above trend-line. And it has taken Fibonacci's resistance at 38.2% (1st june close - 10955); considering weak MACD, we can expect the next fall in banking stocks provided nifty falls any further. If bank-nifty close below 10295 we can short and keep stop loss at 11,000 levels.
Sell around 10,650- 10,670 levels with stop loss at 10,800; target price is 10450
NIFTY (Click here to see graph – Nifty)
We are in an initial phase of bear trend; out of 9 days 5 days nifty june has closed in red. Even 50% retracement will take us to 5400 levels only. So, unless there is no big positive news flash, nifty will remain under the bears" hand.
But one can expect short cover above 5314 levels; we can expect intra-day rally till 5376 range, with a downside levels are 5235.
Adanient: (risk Rs 6 / return Rs 8)
Buy above: Rs 664
Stop loss: Rs 658
Target: Rs 672
Wipro: (risk Rs 5 / return Rs 6)
Buy above: Rs 407
Stop loss: Rs 402
Target: Rs 413