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Bata india

Discussion in 'Technical Analysis' started by verenmitter2001, Mar 16, 2013.

  1. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    whats your view on shorting BATA below 742

    Also suggest is a advisable to go against the nifty trend as nifty is in uptrend and I am choosing stock for Shorting. Please guide what is the right approach....

    regards
    Veren
     
    verenmitter2001, Mar 16, 2013
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  2. ashrithg

    ashrithg New Member

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    I am also looking at this stock for shorting opportunity.
    My opinion is that BATA is consolidating in the range 750 - 800. I feel its bit risky to short this stock now. If at all I short this stock at the current level I will keep a stop loss of 765.

    Shabbir, whats your opinion?
     
    ashrithg, Mar 17, 2013
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  3. shabbir

    shabbir Administrator Staff Member

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    Should be good candidate for shorting. There is hardly any support down.
     
    shabbir, Mar 17, 2013
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  4. yankeedin

    yankeedin Responder

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    I feel if it close below 725, then only it should be shorted for target 600. If you see weekly chart of 2 years, its clear that 720-730 band is strong support.
     
    yankeedin, Mar 17, 2013
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  5. verenmitter2001

    verenmitter2001 Member

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    Hi Shabbir
    I am losing confidence in ascertaining what support level to ascertain for stock for shorting.
    When it come to this stock it was good shorting script but when i go 2year back i found a big support at this level.
    Same happened with bhel and hindalco.
    When we go back the graph shows a big band where price can get support. I am using trade tiger by sharekhan. The big band make me indecisive to take a call.
    So my question is what should be the ideal period to see the support while shorting a stock?
    Do help me in this as I missed my own analysis due indecisiveness on period. Also as you go back in graph some where or the other you will defnitely get a support at CMP so that is confusing.

    I will wait for your reply.

    Regards
    Veren
     
    verenmitter2001, Mar 19, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    Period should be as long as possible. Shorting should always be on the crack of that support levels and then may be a spike. See the pattern morning panic afternoon fade and then the same applicable to positional trading.
     
    shabbir, Mar 19, 2013
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  7. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    what should be the stoploss for this script.

    regards
    veren
     
    verenmitter2001, Mar 19, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    780 or 800
     
    shabbir, Mar 19, 2013
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