UnionBank & Infy short term trade plan

I've executed the trade below, today 7/31/13

Scrip Name: UnionBank CMP :123.95	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Below band
5day & 14 day RSI Value	8 & 21
Support Level	116.85, 120.35
Resistance Level	130.5, 137.15
Action	Buy

The RSI value of this stock indicates it is heavily shorted and bottomed out, I will be buyer @ 118 placing target b/w S1 & s2. StopLoss: 115 target : 135

Scrip Name: INFY CMP :2955.7	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	nearing upper band
5day & 14 day RSI Value	92 & 79
Support Level	2911.20, 2933.35
Resistance Level	2975.35, 2995.2
Action	short

The RSI value of this stock indicated it is over bought @ this price, I will be seller if infy moves above 2990.

StopLoss: 3030 target: 2933

Yes Bank

Scrip Name: YESBANK CMP :373.65	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Below band
Is ADX is < 20 & RSI Value	35.71, & 29.21
Support Level	364.7, 355.6
Resistance Level	387.6, 401.5
Action, Target	Buy, 20 EMA- 442

Yes bank has been beaten down heavily as RBI crunching the liquidity. Since Yes bank business focuses mainly on wholesale funding, this liquidity pressure may take them down for a short term period(until RBI increases the liquidity).  

However, I feel Yes bank as been shorted heavily(Over reacted) to this news. Its a good time to enter into this stock for medium term perspective. I believe it will reap us better returns going long in this stock.

* Odds favoring the trade

1. Trading way below the bollinger band.

2. RSI indicating its been oversold condition.

* Odds against Trade.

1. Big boys( Credit suisse, Merrill lynch) have reduced there target. ( I feel there are over reacting).

2. Its Operating margin as been increased. ( It happens when bank widens its branches, it has added >200 retail branch in '12-'13).

Bank of India Short term Trade idea

Scrip Name: BankIndia CMP :196.5	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Below band
Is ADX is < 20 & RSI Value	23.75, & 27.35
Support Level	190.8, 185
Resistance Level	206.9, 217.2
Action, Target	Buy, 5EMA- 209.2

I will be buying this @ his 2nd support level 190.8. I feel this is a good time to enter into Banking sector, Bank India is heavily beaten down, hope it recovers and touches its average mean price sooner. It might cross 5 day EMA if the news are favorable( an Immediate uptrend might be seen).

*Odds against this trade

1. Liquidity crunch by RBI.

Trade plan for tomorrow

Sun Pharma- Futures

Scrip Name: SUN Pharma CMP :1118	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	NO
Is ADX is < 20 & RSI Value	19.85, & >70
Support Level	1108.2, 1097.9
Resistance Level	1130.6 , 1142.7
Action	Short Sell

Odds Favoring Trade			Odds Against Trade
1	RSI Above 70		1	Chart heading towards bands upper level
2	ADX < 20		2	USD value is favoring the Scrip
3	DOJI formation in its daily EOD chart		3	Excepted good quarterly results
4	Wide Open Bollinger Band Mouth		4

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ITC-Futures

Scrip Name: ITC CMP :368.6	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Above Upper band
Is ADX is < 20 & RSI Value	26.3 & >70
Support Level	365, 361.4
Resistance Level	372.1, 375.6
Action	Short Sell

Odds Favoring Trade			Odds Against Trade
1	RSI Above 70		1	Good momentum prevails in FMCG
2	Trades above bollinger band		2	Exceppted Strong quaterly results
3	DOJI formation in its daily EOD chart		3	ADX - 26.2, indicates high volatility
4	Wide Open Bollinger Band Mouth		4
5

DLF Futures short term Trade Ideas

DLF 

Scrip Name: DLF	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Below Lower Level
Is ADX is < 20	No, 27.05
Support Level	161.2, 157.6
Resistance Level	170.9, 177
Others

Will buy the Futures if it holds the support level and sentiment favors the Scrip.

*Odds favoring trade

• Chart Closing below Bollinger Band, will buy DLF @ 161.2 which is a key support level

*Odds against trade

• RBI Limiting lending to banks to avoid free fall of INR 
• 20 day EMA acts as a strong resistance to DLF for past 3 week.

Sun Pharma Futures

Sun Phrama

Scrip Name: Sun Pharma	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	above upper Level
Is ADX is < 20	below 20
Support Level	1004.2, 1088.8
Resistance Level	1132..4, 1145.3
Others

* Support & Resistance level is revised day to day

Looking forward to short Sun Pharma @ 1145.3

Colgate Short term Trade Idea

Looking for intraday trading Opportunity in this stock, I foresee 20-30 points up move in next 1-2day time horizon.

Action: Going Long

Reason

1.       5 day EMA crosses 20 day EMA (bullish Indicator).

2.       Trading above its 5 day EMA (Good Momentum to enter for intraday trade).