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Your thoughts on Idea Cellular

Discussion in 'Technical Analysis' started by sunny_sachdeva, Jun 14, 2013.

  1. sunny_sachdeva

    sunny_sachdeva New Member

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    HI Shabbir,

    my first analysis after reading your book. please feel free to say if analysis is wrong. Also i used Bollinger Bands and SMA since i felt little easy with these charts to begin with.

    whats your opinion on Idea Cellular.

    1. Stock price is towards Bollinger higher band

    2. Also 20 SMA is above 50 SMA

    please let me know your thoughts

    Thanks
     

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    sunny_sachdeva, Jun 14, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    I prefer trading with breakouts, W's and head and shoulder and not only based on the mathematical patterns.

    So I will suggest you to come up with support as well as stop loss in this trade for you.
     
    shabbir, Jun 14, 2013
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  3. sunny_sachdeva

    sunny_sachdeva New Member

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    But if i am positioning this stock for 6 months even then SL is necessary ?
     
    sunny_sachdeva, Jun 14, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes. Very much
     
    shabbir, Jun 15, 2013
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  5. sunny_sachdeva

    sunny_sachdeva New Member

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    Thanks for the reply Shabbir.

    but i dont know how to calculate support and SL.

    Can you teach me this

    Thanks
    Sunny
     
    sunny_sachdeva, Jun 15, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    My eBook has detailed steps on doing those. Time to re-read the ebook
     
    shabbir, Jun 15, 2013
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