1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Bodal chemicals - possible double bottom breakout?

Discussion in 'Technical Analysis' started by bhat64, May 18, 2018.

  1. bhat64

    bhat64 Apprentice

    Joined:
    Oct 27, 2016
    Messages:
    230
    Likes Received:
    249
    bhat64, May 18, 2018
    Share #1
    mk27418 likes this.
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,706
    Likes Received:
    1,940
    Use candle sticks because looking only at the average price won't help too much.
     
    shabbir, May 18, 2018
    Share #2
    mk27418 likes this.
  3. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,706
    Likes Received:
    1,940
    BODALCHEM_Daily_18-05-2018.png

    The W is ON but a breakout above the intermediate high will be a good entry point.
     
    shabbir, May 18, 2018
    Share #3
    mk27418, chaitanya_mella and jrtailor09 like this.
  4. madhuvarsha

    madhuvarsha Member

    Joined:
    May 19, 2017
    Messages:
    37
    Likes Received:
    19
    How are the fundamentals of this company?
     
    madhuvarsha, May 18, 2018
    Share #4
  5. chaitanya_mella

    chaitanya_mella Contributor

    Joined:
    May 20, 2017
    Messages:
    141
    Likes Received:
    109
    and the intermediate high would be the 200 day moving average?
     
    chaitanya_mella, May 18, 2018
    Share #5
    mk27418 likes this.
  6. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,706
    Likes Received:
    1,940
    No. 145 which is the high of the intermediate leg of the W formation.
     
    shabbir, May 19, 2018
    Share #6
    mk27418, bhat64 and chaitanya_mella like this.
  7. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,706
    Likes Received:
    1,940
    The debt to equity ratio is tough higher and am not comfortable with it. Also promoter stake for such a small cap is too low for me to consider it.
     
    shabbir, May 19, 2018
    Share #7
    mk27418 likes this.
  8. chaitanya_mella

    chaitanya_mella Contributor

    Joined:
    May 20, 2017
    Messages:
    141
    Likes Received:
    109
    Right. Got it. Thank you


    Sent from my iPhone using DIY Technical Analysis mobile app
     
    chaitanya_mella, May 19, 2018
    Share #8
    mk27418 likes this.
  9. bhat64

    bhat64 Apprentice

    Joined:
    Oct 27, 2016
    Messages:
    230
    Likes Received:
    249
    Should I be looking at the fundamentals of I taking position here as a trading bet basis chart patterns


    Sent from my iPhone using DIY Technical Analysis mobile app
     
    bhat64, May 19, 2018
    Share #9
    mk27418 likes this.
  10. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,706
    Likes Received:
    1,940
    I do. I don't trade in stocks that aren't worth investing. I didn't used to but now has done it just to avoid too many stocks for trading.
     
    shabbir, May 19, 2018
    Share #10
    mk27418 likes this.