METAL: Probable Revarsal? JSWSTEEL & JINDALSTEL on a ride?

Hi friends, On daily chart CNXMetal on a DZ and on hourly chart, till 50 to 80 point up move possible, and at the same time JINDALSTEL and JSWSTEEL are both in DZ on daily basis. Though Metal sector on a demand zone and a reversal is expected as metal price is increasing in spot, yet I haven't choose TATASTEEL as it yet to come its weak DZ.  As per my view JINDALSTEL can be long with a strict stop loss 339 for tgt 375 and 396, and JSWSTEEL is an out performer than the Metal Index and it has just started up move, and till it hasn't broken its up trend... as it is holding HH-HL formation, so I think it is another Metal counter where one can take a long position with strict stop loss 664 and can be carried for next HH....... JSWSTEEL also crossed it 200 DMA. WIth comparison of Metal Index I think JSWSTEEL is the best for now. 

TATASTEEL: More pain ahead?

Hi friends, as I posted yesterday my Nifty Intraday view that a reversal may happen if Nifty sustain above 5260 and today morning it open bellow that , so hope no one go long with Nifty for Intraday. And as earlier I posted Nifty may come down at 5216 and today it made a low 5215.7 till 1:18 p.m. Don't know the next destination, I haven't seen yet...

And hope more pain is awaiting in short term. Look at the  TATASTEEL daily, I am really worried about it, and as per chart, what it formed, I would prefer to stay away from TATASTEEL, and I think it may test the GAP of 15th May 2009, and until it come around 250-270, simply I am not interested. 

RELCAPITAL on the move?

Hi friends, take a look on RELCAPITAL daily chart, it seems ready to take a sprint up to 360 on daily basis. 323 is almost 0.5% of its current average true range, and I would like to take a swing trade on it with 323 SL @ CMP 331.

 

AXISBANK : Buying opportunity for swing trader?

Hi friends, for swing trading AXISBANK is going to enter in an attractive zone 977-967. As this bank is out performer I think one can utilize this demand zone as an buying opportunity. My opinion is as market trend is down I would like to take a long position while price will enter bellow 977, may be I would prefer 970-972  as the supply zone for the same is around 1005. Difference only Rs 28, so my  risk :  reward  after the cost ........... ok friends that is my opinion.....  you can take a look.