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maruti suzuki

Discussion in 'Technical Analysis' started by shwetagnema, Jun 18, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    hi Shabbir,
    This stock has taken an up move after 1430, what's your view on it. should we expect positive move now?
     
    shwetagnema, Jun 18, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Avoid. Let it form a W around 1430. This could be just short covering and some retail investors being trapped.
     
    shabbir, Jun 18, 2013
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  3. shabbir

    shabbir Administrator Staff Member

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    BTW I noted that there is pinbar as well. Wow.

    May be too risky if you want to trade.
     
    shabbir, Jun 18, 2013
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  4. krasquinha

    krasquinha Member

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    I think you need to wait for some more trading days before you take the position.
     
    krasquinha, Jun 18, 2013
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  5. shwetagnema

    shwetagnema Active Member

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    thanks a lot shabbier and kiran
     
    shwetagnema, Jun 19, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all ours :D
     
    shabbir, Jun 19, 2013
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  7. vishuhd1

    vishuhd1 Member

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    Shabbir,
    Its not a perfect pinbar right?.. Even though the shadow of the 13th Jun candle is well below its pervious ones, the body of the candle is not well within the body of the previous one... It more looks like a Island reversal pattern.. But, again its not perfect as well..
     
    vishuhd1, Jun 19, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    Its almost a perfect pin bar
     
    shabbir, Jun 20, 2013
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