Wednesday, August 16, 2017

Faadoo stock for this and next week

The stock we discuss here is Tata Steel. The results were indeed good and stock has given a great move in last 2 weeks and now the RSI indicates the stock is overbought with low volumes.

Analysis of the stock

A bearish bat pattern formation which has given a breakout above previous high of 580 there would be some resistance around 645 levels if this resistance is crossed we may see new life time high of 700 levels. 

Faadoo Stocks Recommendation

If the stock opens up with good volume wait for 645 levels to go short whereas if the stock opens weak one can short the stock for 610 levels by next week. The stock is overbought and may see some
healthy correction.

Also read

How losses are incurred by paying heavy brokerage
Nifty Analysis 

The overall sentiment are not very good the FII's continue to sell whereas the DII's are buying any bad news and the market may come down tumbling. Play safe with strict SL and follow the trend.
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