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A promising short

Discussion in 'Technical Analysis' started by vilas, Aug 5, 2013.

  1. vilas

    vilas New Member

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    Sun pharma looks a good opportunity to short as price, volume accumulation/distribution index are decreasing. The last high of the price was not coupled with a new high in RSI.First tgt appears to be at 530.
     

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    vilas, Aug 5, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Shorting would be trading against the trend and so try to follow stop loss religiously
     
    shabbir, Aug 5, 2013
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  3. vilas

    vilas New Member

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    Thanks Shabbir for the advice, I had actually missed out on the trend part. Sitting on the fence, though looks a good opportunity to short. The indicators have strengthened for short selling.

    What may be the stop loss?
     
    vilas, Aug 6, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Shorting stop would be 580 and if I am going long I will keep an eye on 530 being held and not broken.

    Again if 530 is taken out shorting becomes an option with 530 as stop
     
    shabbir, Aug 6, 2013
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  5. vilas

    vilas New Member

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    Thanks Shabbbir, booked decent profit by shorting. Trendline support appears to be at about 520. Now, waiting for bounce back from the trendline/ breakdown. On the lower side next target appears to be at 500. Request your opinion.
     
    vilas, Aug 7, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    I would keep out of this as of now and look for some other stock
     
    shabbir, Aug 7, 2013
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  7. vilas

    vilas New Member

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    Thanks Shabbir, will copy you.
     
    vilas, Aug 8, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Aug 8, 2013
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