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Naukri @ 840 - Sell or Hold ?

Discussion in 'Technical Analysis' started by naveen1241, Sep 19, 2014.

  1. naveen1241

    naveen1241 Responder

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    Hi All,

    I got in to Naukri yesterday @ 840. Did not book profit today during the upsurge. What are the important levels for this stock to watch out ?

    Also, holding Ahmednagar Forging @ 409 and Nucleus Software @ 235.
    Please give ur valuable comments based on chart analysis.

    Thanks
    Naveen
     
    naveen1241, Sep 19, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    I don't see pattern in both these stocks and so whats your SL and Targets?
     
    shabbir, Sep 19, 2014
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  3. naveen1241

    naveen1241 Responder

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    I do not know text book rules and chart analysis. Sharing my thoughts below.
    Naukri - The conviction was the stock formed a double top like formation around 795 levels. From there, the stock did not fall and instead went to 980 levels with significantly high volume. During the recent market fall, the stock corrected a bit in very low volumes. Hence I got in to the stock with closing SL 800 and target 900+ first target. So you think that I should have booked profits since, technically no patterns visible. Hope to get a good exit point. Fingers crossed.

    Ahmednagar Forgings - Autosector stocks are outperforming and flavor of the season. Seems the stock is undervalued even though debts are there. In additon the stock gave me a good return from purchasing at 365 and selling at 425. Again i feel the stock should give good returns, the stock is in uptrend and I have a closing SL below 390 in mind/ auto sector slipping down.

    Nucleus Software seem to be going up with huge volumes at all times compared to it low volume corrections. Fundamentally as well I think the stocks are good which give courage to get in to these.

    These are the technical reasons I had while getting in. Thought to learn from people in this forum as well.

    Appreciate your comments.

    Thanks
    Naveen
     
    naveen1241, Sep 19, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    Lets talk about one stock in one thread which can help us discuss things in much more details.

    So for naukri yes I do see a breakout above 800ish levels and that is when you should be getting into the stock with breakout pattern but once that pattern is missed, I don't prefer rushing into this stock when it corrects after a breakout.

    800 is a good support now and so once it is held and formed, can look into fresh entry but then I would prefer the support to be formed at 800.

    Now as 800 is not cracking and there is a big move up as well, you can keep a SL of previous day low and hold for a target of atleast 920 and even further.
     
    shabbir, Sep 20, 2014
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