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

Karnataka Bank

Discussion in 'Technical Analysis' started by masihpatel, Jul 14, 2012.

Tags:
Page 1 of 3
  1. masihpatel

    masihpatel Active Member

    Joined:
    Jun 2, 2012
    Messages:
    325
    Likes Received:
    49
    Looks like W is about to formed, it has got support at 70 and resistant at 110chart is attractive, lets see can it break the level of 110 this time.;)
     
    masihpatel, Jul 14, 2012
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    W was formed in first week of June and so now it is too late to get into the stock unless it forms some other pattern yet again.
     
    shabbir, Jul 15, 2012
    Share #2
  3. sujan4bw

    sujan4bw Member

    Joined:
    Jun 12, 2012
    Messages:
    557
    Likes Received:
    18
    Solid W and breakout pattern in Karnatak bank chart today. It corssed resistanc elevel 107 today and immediate resistance is at 112 which is close.

    If it breaks 112....it's target will be 132. i had attached weekly chart (3 years)

    What do you say Shabbir?
     

    Attached Files:

    sujan4bw, Sep 28, 2012
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    3 Year weekly chart should be used for low floaters but yes even daily one looks good.
     
    shabbir, Sep 28, 2012
    Share #4
  5. madhusudhanps

    madhusudhanps Member

    Joined:
    Aug 20, 2012
    Messages:
    45
    Likes Received:
    6
    Hi Sujan. When do we consider it as breakout, if closing price is above 112 or intraday trading range crosses 112.
     
    madhusudhanps, Sep 28, 2012
    Share #5
  6. sujan4bw

    sujan4bw Member

    Joined:
    Jun 12, 2012
    Messages:
    557
    Likes Received:
    18
    Closing price above 112 and next day stock should open above 112.
     
    sujan4bw, Sep 28, 2012
    Share #6
  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Looking good but stop loss is very far around 96.
     
    sanjay_sansanwal, Sep 28, 2012
    Share #7
  8. madhusudhanps

    madhusudhanps Member

    Joined:
    Aug 20, 2012
    Messages:
    45
    Likes Received:
    6
    Thanks Sujan for your reply
     
    madhusudhanps, Sep 28, 2012
    Share #8
  9. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    I think Karnataka bank should close above 113 with rise in volume to be called a break out.As Sanjay said 96 is a SL....I would like to ask Sanjay is 104 can also be the SL .Chart is attached.
     

    Attached Files:

    drsuraimardi, Sep 28, 2012
    Share #9
  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Yes it can but the main point is here that it rallied so much in quick time and if it reverse then more chances to breach 104 also.
     
    sanjay_sansanwal, Sep 28, 2012
    Share #10
  11. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Thanks a lot Sanjay for the reply with reasoning.
     
    drsuraimardi, Sep 28, 2012
    Share #11
  12. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Sanjay & Sujan ! Today Karnataka bank closed above 113.What do you think about a fresh entry with stoploss 95 and target 133?
     
    drsuraimardi, Oct 3, 2012
    Share #12
  13. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Looks good.
     
    shabbir, Oct 3, 2012
    Share #13
  14. sujan4bw

    sujan4bw Member

    Joined:
    Jun 12, 2012
    Messages:
    557
    Likes Received:
    18
    Already I expressed my view in the thread
     
    sujan4bw, Oct 3, 2012
    Share #14
  15. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important

    yes u can enter in that.
    U can also target for 160 if book partial profit @ 133 and then 160.
     
    sanjay_sansanwal, Oct 3, 2012
    Share #15
  16. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Thank you all !
     
    drsuraimardi, Oct 3, 2012
    Share #16
  17. verenmitter2001

    verenmitter2001 Member

    Joined:
    Sep 22, 2012
    Messages:
    354
    Likes Received:
    12
    Occupation:
    IT, Education & Ex-Army officer
    But is it still good time to enter???
    W is formed in 6 month chart but the right leg already seems to be high.
    If yes what should be the stop loss and resistance of this stock?
     
    verenmitter2001, Oct 4, 2012
    Share #17
  18. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Today I entered @114.80
     
    drsuraimardi, Oct 4, 2012
    Share #18
  19. verenmitter2001

    verenmitter2001 Member

    Joined:
    Sep 22, 2012
    Messages:
    354
    Likes Received:
    12
    Occupation:
    IT, Education & Ex-Army officer
    entered at 115
    Thanks
     
    verenmitter2001, Oct 4, 2012
    Share #19
  20. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    The low in the second leg of the W which you already mentioned is higher than the leg before that.
     
    shabbir, Oct 4, 2012
    Share #20
Page 1 of 3