We had seen another choppy day in the Indian market as Sensex closed 16 points dn at 18221 forming a red candle. Intraday Sensex has done nothing special by not giving chance to swing day traders. May be we are in consolidation phase!!!!! It may be a calmness ahead of big movement either up or downside. Don’t worry as long as we are above 18190 we are in safe zone and no need to panic. Be stock specific as index trading is not easy and according to me is a way to lose your money.
Hotel Leela has broken up today and done very well by closing above its breakout point forming a very good eye catching GREEN CANDLE. With a very good volume Hotel Leela is officially buy from everyone now. One can wait till 60 to book profit. Check out the graph below (click to enlarge).
Another hotel stock came to radar Taj GVK one can enter Taj above 165 with the full fledge breakout above 170 with the target of somewhere around 190. The stock might test the patience level of investors as it is not on the verge of breakout. One can still build up the position.
Cheers
Chirag CM
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