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

Fedders Lloyd Corporation Ltd

Discussion in 'Technical Analysis' started by myidgmc, Mar 31, 2014.

  1. myidgmc

    myidgmc Member

    Joined:
    Dec 7, 2013
    Messages:
    105
    Likes Received:
    6
    Formed W pattern.Can we buy with Tar-72 and SL:29 at CMP @43?

    Views Please?

    Thanks,
    Kumar
     
    myidgmc, Mar 31, 2014
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    W. I don't see any W and can you please share what chart are you looking at.
     
    shabbir, Mar 31, 2014
    Share #2
  3. shwetagnema

    shwetagnema Active Member

    Joined:
    Jun 24, 2012
    Messages:
    252
    Likes Received:
    40
    Occupation:
    House wife
    i felt it broke out after higher top higher bottom formation. and today it has gone too high. SL of 29 is too low. for me SL should be 40 and target is 49, but right now it is trading at 46. so i don't think we should bet for it.
     
    shwetagnema, Apr 1, 2014
    Share #3
    masihpatel, naveen1241, sanjay_sansanwal and 1 other person like this.
  4. ravirajpr

    ravirajpr Responder

    Joined:
    Apr 6, 2014
    Messages:
    114
    Likes Received:
    64
    Hi Kumar,
    My suggestion is always try to take the trade that has a good pattern (like breakout/pullback) as this will provide with low risk trade entries.
    SL of 29 is too high and may not suit the Risk/Reward ratio.
    I'm attaching the screenshot of Fedders Lloyd though the price is in uptrend wait for a pullback and enter with a best R/R ratio.

    In case if you've missed the earlier breakout at 38 wait for a pullback as every stock will give you a second chance. If not forget it and wait for a good pattern as mentioned by Shabbir we shouldn't be chasing trades.
     

    Attached Files:

    ravirajpr, Apr 7, 2014
    Share #4
    masihpatel likes this.