P&F charts this week

Date: 3rd June 2015

 

Figure 1: Jsw steel (878.30)
Resistance. Below 45 degree. Looks like 10-20% downside possible. Short exit level placed at 898 on closing basis.

Figure 2: Rcom (63.65)
Resistance. Failed to move up. Can come to 51. Stop for short exit placed at 68.

Figure 3: Unitech (13.45)
Bull trap at significant level. Bands expanding. Below 12 possible. Short exit level is 14.50.

Figure 4: Rpower (51.55)
Variation of bull trap. Below 45 possible. Short exit level at 53 on closing basis.  

 



Fig1: JSW steel 0.25% x 3 cl Point & Figure chart



Fig 2: Rcom 0.25% x 3 cl Point & Figure chart



Fig 3: Unitech 0.25% x 3 cl Point & Figure chart



Fig 4: Rpower 0.25% x 3 cl Point & Figure chart

- Prashant Shah, CMT, CFTe

 

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.