Trading Report (12/01/2011)

I shorted SBIN at 2646.50. My target has been set at 2617.20.

The resistance levels for the same scrip for today are 2646.50, 2656.25, 2666 and 2675.80. The support prices are 2587.90, 2578.15, 2568.35 and 2558.60. Target when shorted or bought at any one of these prices is 2617.20.

If you are trading TATASTEEL, then you may need to have an idea about the support and resistance levels. The resistance levels are 652.34, 656.25, 660.15 and 664. The support prices are 628.90, 625, 621.10 and 617.15. Target when bought or shorted at any of these prices is 640.65

Update 1 (11:01): SBIN target achieved. I bought TATASTEEL at 628.90. The target is 640.65.

Update 2 (13:12): I reentered long with SBIN at 2578.15. Target of 2617.20 just now.

Update 3 (13:14): Target of 640.65 achieved for TATASTEEL.

Update 4 (14:11): Could have shorted TATASTEEL at 656.25. But lost the opportunity since I was not near the PC. However, I shorted at 652.35 and allowed the system to square it off by itself (which was done in the 646 – 648 range).

Another day of profitable day trading. 🙂


About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

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