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.