Wednesday, June 1, 2016

Price Action Trading : 01-Jun-2016

Vedanta: stock closed at 108 yesterday (31-May-2016)
Today the trading range could be anywhere between 104-114.

if the stock opens near 108, keep buy order at / near 105 and exit part qty at 109 and remaining qty at/near 112-114. stop loss will be at 100

if the stock opens to cross 110, keep buy order at / near 109 and exit part qty at/near 114 and rest at/near 117. stop loss will be at 107

Option data shows stock is trying to go upto 119-120 with support forming at 90-100