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Adani Port

Discussion in 'Technical Analysis' started by manjeetsingh250187, Jun 7, 2014.

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  1. manjeetsingh250187

    manjeetsingh250187 New Member

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    Just Started learning about technical analysis of the charts. Looked a few one. Taken a entry in Adani Port @240 a day before yesterday by looking into attached chart:



    Please let me know if my pick based on chart is right. And how to determine targets, other then if it leaves the upper band.

    Thanks,
    Manjeet
     

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    manjeetsingh250187, Jun 7, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    The chart that you have shared is line chart and it does not have all the needed information and you need to be using candle stick charts that has high low open and close information.

    Your entry at 240 was awesome and your stop should be 210 with target of 270 to 300.
     
    shabbir, Jun 8, 2014
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  3. manjeetsingh250187

    manjeetsingh250187 New Member

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    Thanks Shabbir. I used Candle chart only, just have couple of doubts, how you predicted the target, and based on what in candle high and low, the call should be taken?
     
    manjeetsingh250187, Jun 8, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    The target is based on ROI. Your stop is 210 and your purchase price is 240 and so you are ready to loose 30 Rs means you should be atleast making 30 Rs so target of 270 and then 30 more for twice the ROI
     
    shabbir, Jun 8, 2014
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  5. ravirajpr

    ravirajpr Responder

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    The entry is a good timing.
     
    ravirajpr, Jun 9, 2014
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  6. yankeedin

    yankeedin Responder

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    Adani port has given a pull back. swing trade @cmp of 265 with sl of 255 for target of 280
     
    yankeedin, Aug 4, 2014
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  7. shabbir

    shabbir Administrator Staff Member

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    Looks like big swing trade but red candle on daily chart can be used to get out of this.
     
    shabbir, Aug 5, 2014
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  8. yankeedin

    yankeedin Responder

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    It hit target of 280 and touched 289.
    290-295 zone strong resistance. Again can be bought if crosses resistance decisively
     
    yankeedin, Aug 19, 2014
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