Ideas Lab is a place where I intend to discuss different opportunities that show up on the screen based on the science of stock price action. These are ideas and not trading recommendations. The objective is to learn from live experience - what works and what does not. In markets, we are always dealing with probabilities and not certainties.
Reliance Communications stock after a long time has crossed above the resistance of 83. The stock now has pulled back to retest it as support. Technically, it should hold and build a base here for durable rally
Adani Power stock also after a long time has crossed above the resistance of 32 and 200 dma. The stock today has pulled back to retest the same level as support. If stock holds, then it becomes a good buy for strong upside move
Idea Summary Sheet
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication, you agree to make no trade relying in whole or in part on the comments of the writers