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

breakout

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

  1. shwetagnema

    shwetagnema Active Member

    Joined:
    Jun 24, 2012
    Messages:
    252
    Likes Received:
    40
    Occupation:
    House wife
    it ha got break out today. I'm thinking to buy for target 365 and then 395 and sl 266. but is this target possible???
     
    shwetagnema, Oct 18, 2013
    Share #1
  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Yeah break out with volume too but not looking a good idea cmp is 328.90 and stop loss is too far @ 266 and the target u mentioned are also after a strong resistance.
    So no for me and even this type of market scenario completely no for a script which has long term down trend and just trying to recover, it is in down trend from 2010 and only one high top high bottom it has done from lower level in 5 year weekly chart and as well as 9 months daily chart.

    Can't trust but if u wish to trade then 310 should be ur strict stop and 355 365-380 should be final target.
     
    sanjay_sansanwal, Oct 18, 2013
    Share #2
    saptarshi_sachin likes this.
  3. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Exactly
     
    shabbir, Oct 19, 2013
    Share #3