STOP LOSS: 10,350
Nifty closed in the negative territory and it failed the double bottom pattern formed on the daily as well as hourly charts. The Index has also completed an A-B-C pullback on the daily charts which is also quite negative going forward. The minimum target on the lower side is pegged at 10100 and below those 9950 levels.
TATA CHEMICALS: SELL
TARGET: Rs 600
STOP LOSS: Rs 655
The stock has broken the triple top pattern on the daily charts with a sell crossover on its daily charts which is quite negative for the stock. The momentum indicator has also provided a sell crossover.
INDIABULLS HOUSING FINANCE: SELL
TARGET: Rs 780
STOP LOSS: Rs 990
The stock has formed a bearish triangular pattern and the wave E of the same seems to have gotten over. The momentum indicator MACD is already in sell mode, hence we recommend selling this stock.
CAPITAL FIRST: SELL
TARGET: Rs 430
STOP LOSS: Rs 490
The stock has formed a head and shoulders pattern on the daily charts with a negative divergence on the daily charts. So, we recommend selling this stock
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.