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Trading Indusind bank, SAIL, NIIT Tech & Lead using RSI

INDUSIND BANK: The stock has been taking a plunge. The RSI has dived into the bear zones with “surge moves“.  The uptrend may halt here for sometime. Any pullback may be utilized for creating short positions. The supports is placed at 1800 – 1815 levels. Indusind Bank will have a hard time moving above 1970 in the coming weeks.

NIIT TECH:The IT segment looks good. NIIT Tech has moved up smartly in the last hour above the swing levels. This move is has created a NNR on the charts which is a good bullish sign. Keeping above the yesterday high may be positive and the stock may surge further.

SAIL: A cup and handle classical chart pattern has formed on the daily chart. The breakout is pending, Breaking above 83 levels in a strong manner will be bullish, the target is placed at 91 levels. However the prices have to protect 74 levels.

LEAD: The metal in in down trend. Now the prices have landed into a inflection zone. A move above 150 will be bullish and the metal may move up from there, on the other hand a close below 146 may be bearish and the metal may slump to 136 levels.

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DISCLAIMER:

The information on this trading dairy represents my own opinions & does not contain a recommendation for any particular security or investment. I may hold positions or other interests in securities mentioned in the dairy.

Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when TRADING FUTURES or options. You must review customer account agreement prior to establishing an account. Investors could lose more than their initial investment. You must review customer account agreement prior to establishing an account.

Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

Trade on your own risk. Bharat Jhunjhunwala or ProRSI will not be liable for any type of damage evolving out of the trades taken by you.