Thursday, March 11, 2010

Book Profit in Mcleod Russel

our Idea Mcleod Russel has done well. Its time to book profit.

Nifty is still ranged bound though 5180-5200 is stiff resistance.Market is also cautious ahead of IIP numbers.

Most of the traders loose money in these kind of markets.One way to tackle this market is to reduce volume , trade less -most of the breakout patterns fail so change strategy according to the market phase and buy pull back .
On the budget day our view was to long IT and Mid Cap pharma stocks.

You can see our post



http://swingtradingideas.blogspot.com/2010/02/buy-when-others-are-fearful.htm
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Mind Tree has support at 515 and resistances are at 567 / 596




Torrent Pharma has support at464 and resistance is at 550. This stock is trading at life time zone and may go up to 600

have fun and trade well

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