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Support Level Calculation

Discussion in 'Technical Analysis' started by shankarpatil, Jul 5, 2013.

  1. shankarpatil

    shankarpatil New Member

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    shankarpatil, Jul 5, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    That is what is explained in the ebook. Have you gone through it? Any stock can have multiple supports as always.
     
    shabbir, Jul 6, 2013
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  3. Prescilla

    Prescilla Member

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    Dear Shabbir,

    Can you please tell me the status of SBIN and Bank of Baroda? On the chart I can see the big red candles and the dojis. According to me they are in downtrend. Please excuse me if I am wrong.
    Regards,
     
    Prescilla, Jul 6, 2013
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  4. shankarpatil

    shankarpatil New Member

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    I have read the book. I did not see anything on support calculation. Can you please tell me the page number where "how to calculate multiple support levels is mentioned"?
    -Thanks.
     
    shankarpatil, Jul 6, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    SBIN has better Doji than BoB but then the make sure you have a strict stop loss because there was a steep downfall from 2450 to 1900ish.

    Support levels occurring multiple times means multiple supports. In chapter 8 of higher top higher bottom pattern each leg down is higher than the previous one and so each of those is support levels.

    I hope it is clear or let m know and I will explain further.
     
    shabbir, Jul 7, 2013
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  6. Prescilla

    Prescilla Member

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    Thanks Shabbir

    PF
     
    Prescilla, Jul 7, 2013
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  7. krasquinha

    krasquinha Member

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    Prescilla,

    Are you planning to go short or long on SBI ?

    Regards,
    Kiran
     
    krasquinha, Jul 7, 2013
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  8. Prescilla

    Prescilla Member

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    Kiran,

    According to me it is better to go for short, What is your opinion?

    Regards,
    PF
     
    Prescilla, Jul 7, 2013
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  9. shankarpatil

    shankarpatil New Member

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    Thanks Shabbir.
     
    shankarpatil, Jul 8, 2013
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  10. shankarpatil

    shankarpatil New Member

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    Prescilla,
    Can you please start a new thread for each stock or a new discussion.
    -Thanks.
     
    shankarpatil, Jul 8, 2013
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  11. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.

    Exactly.
     
    shabbir, Jul 8, 2013
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