Indian market outlook and trading ideas

Swing  Trading Ideas

Market Outlook:

The immediate short term downward drift is continued in the last week. This is a purely trading market in the range of 5350 on the lower side and 5600 on the higher side. Now it seems market is heading towards the lower band. As I have said in my previous postings, for any serious move, market need to break out of this range.

However, as the market is approaching the lower band there are several large cap and mid cap stocks looks very attractive and poised to take a immediate up move over next few days.

For Swing Trading(Holding time few days to a week or so)

1.       ONGC : Buy at CMP @266.5,  Stop Loss @259.5,  Target 1: 281  and Target 2: 306

2.       SAIL : Buy @140 (when price comes to 140), Stop Loss: 138 and Target 1: 150 and Target 2 : 156

3.       Bharat Forge: Buy @ 305, Stop Loss@ 299 and Target 1: 320 and Target 2: 335

4.       Century Textiles: Buy above 345.9, Stop Loss@334, Target: 378

5.       CESC : Buy above 294, Stop Loss@ 288 and Target 312

6.       IVRCL Infra: Buy above 77, Stop Loss@73 and Target: 90

Trading Position Tracker
Sr. No.	Stock	Trading Type	Entry Price	Stop Loss	Target 1	Target 2	Remark	Reward to Risk ratio	Profit/ Loss
1	ONGC	Long	266.5	259.5	281	306	Executed	2 times
2	SAIL	Long	140	138	150	156	Pending	5 times
3	Bharat Forge	Long	305	299	320	335	Pending	3 times
4	Century Textiles	Long	345.9	334	378		Executed	4 times
5	CESC	Long	294	288	312		Pending	3 times
6	IVRCL Infra	Long	77	73	90		Pending	3 times

Trading Quote: ‘Optimism is good but could be a dangerous attitude in Trading’

Profitable Trading,

Neeraj Gogoi