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cromton greaves

Discussion in 'Technical Analysis' started by shwetagnema, Jan 7, 2014.

  1. shwetagnema

    shwetagnema Active Member

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    this stock has made double bottom and now in leg up. do you think it as a buy for the target 137/159 and sl as 122.....cmp is 128.
     
    shwetagnema, Jan 7, 2014
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  2. madhusudhanps

    madhusudhanps Member

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    I don't understand how you are saying it as double bottom in an uptrend.
    Rather that you can say it took support of 122 which it touched twice.
    If uptrend continues 135 should be achievable.
    Also you can treat it as double top and if it breaks 120 you should exit your longs.
     
    madhusudhanps, Jan 7, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    Double bottom meant W and yes I would buy this stock with SL of 120
     
    shabbir, Jan 7, 2014
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  4. shwetagnema

    shwetagnema Active Member

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    thanks shabbir
     
    shwetagnema, Jan 8, 2014
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  5. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 8, 2014
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  6. vishuhd1

    vishuhd1 Member

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    Don't you guys think 120 is too low to wait on.. With today's candle, I guess its not a good idea to stay long in this stock if it breaks 125 levels on a downside...
     
    vishuhd1, Jan 9, 2014
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  7. madhusudhanps

    madhusudhanps Member

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    122 support price has been touched thrice so we are putting our SL 2 points below this.
    If you want to play more safe you can consider 122 also as SL but we should always give some room for price to bounce back that's why 120. Hope it clarifies.
     
    madhusudhanps, Jan 9, 2014
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  8. madhusudhanps

    madhusudhanps Member

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    Crompton completed DoubleTop pattern which was mentioned in my earlier post#2 and got confirmation yesterday with close at 120.5 breaking support line of 122.
    Aggressive Traders can go short now with TG1 114 and TG2 108 and SL close above 122.
    Safe Traders can wait for complete closure below 120 with same above targets.
    Shabbir please correct me if I am wrong.
     
    madhusudhanps, Jan 11, 2014
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  9. shabbir

    shabbir Administrator Staff Member

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    You are absolutely right.
     
    shabbir, Jan 12, 2014
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  10. madhusudhanps

    madhusudhanps Member

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    TG1 touched
     
    madhusudhanps, Jan 16, 2014
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  11. shabbir

    shabbir Administrator Staff Member

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    Party time.
     
    shabbir, Jan 16, 2014
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  12. madhusudhanps

    madhusudhanps Member

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    TG2 hit.
     
    madhusudhanps, Jan 27, 2014
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    shabbir likes this.
  13. vishuhd1

    vishuhd1 Member

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    With today's closing, did Crompton greaves made a bullish head and shoulder pattern?..

    I am with the view that today, it broke the trend line of 118 on the upside and really has the potential to go up in the next one or two trading sessions.. Your views are expected please..
     
    vishuhd1, Feb 6, 2014
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  14. madhusudhanps

    madhusudhanps Member

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    It has resistance at 122. If closes above 122 then can target 135.
    Shabbir your views please
     
    madhusudhanps, Feb 6, 2014
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  15. shabbir

    shabbir Administrator Staff Member

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    Perfect.

    I don't see 122 as resistance.
     
    shabbir, Feb 6, 2014
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  16. madhusudhanps

    madhusudhanps Member

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    Shabbir 122 acted as support in prior uptrend thats why saying it as resistance.
    Attached chart
     

    Attached Files:

    madhusudhanps, Feb 6, 2014
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  17. shabbir

    shabbir Administrator Staff Member

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    I would put that as a range of 118 to 122 which is a zone now.
     
    shabbir, Feb 6, 2014
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