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is it a buy time

Discussion in 'Technical Analysis' started by shwetagnema, Dec 11, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    today is 4th day of upwards tick in ITC after a double bottom and after the lowest level in the yearly channel trend. Plus today there's a good volume too. do you think now it's a buy for the stock for the target 350 and SL 307.
     

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    shwetagnema, Dec 11, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes and No both.

    YES because it has formed a W with 307 which you have made a SL as well. Good going.

    NO because the lower top and lower bottom being formed is still ON and so I would buy this above 325ish to 330ish levels where its more certain.

    When you have both yes and no, try to be patient.
     
    shabbir, Dec 11, 2013
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  3. shwetagnema

    shwetagnema Active Member

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    thanks shabbir
     
    shwetagnema, Dec 12, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Dec 12, 2013
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