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

Bharat Forge

Discussion in 'Technical Analysis' started by garrykaka, Oct 3, 2013.

Tags:
  1. garrykaka

    garrykaka New Member

    Joined:
    Aug 12, 2013
    Messages:
    3
    Likes Received:
    0
    Hi,

    I had bought Bharat Forge stock in May.
    Would appreciate your input if now is the right time to sell the stock or should I hold on? If hold on, upto what price?

    Thanks.
     
    garrykaka, Oct 3, 2013
    Share #1
  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important

    I don't know ur purchased price But I assume may 2013 only and price was 230-245, u should follow stoploss of 240 strictly and wait for breakout above 270 and ur target should be around 290.
    :)
     
    sanjay_sansanwal, Oct 3, 2013
    Share #2
  3. garrykaka

    garrykaka New Member

    Joined:
    Aug 12, 2013
    Messages:
    3
    Likes Received:
    0
    Hi,

    Thanks! I purchased it at 247 in May 2013.
    BTW - please share how you came up with the SL and the target price.

    Regards,
    Garry
     
    garrykaka, Oct 3, 2013
    Share #3
  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important

    240-248 area was a strong resistance for bharat so I gave u the lower level of that area for target I suggested cause according to me u didn't took this script to book loss and go so where it can go max and that 260-265 but I don't want to suggest u that since it is in uptrend now so assuming it will breakout 270 then the target is coming 290-295 max.
    :)
     
    sanjay_sansanwal, Oct 3, 2013
    Share #4
    garrykaka likes this.
  5. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    All I can say is I would not hold this stock as of now.
     
    shabbir, Oct 3, 2013
    Share #5
  6. garrykaka

    garrykaka New Member

    Joined:
    Aug 12, 2013
    Messages:
    3
    Likes Received:
    0
    Is this because of fundamental analysis and news on this stock or because of Technical Analysis.

    Thanks,
    Garry
     
    garrykaka, Oct 3, 2013
    Share #6
  7. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Technicals
     
    shabbir, Oct 3, 2013
    Share #7
  8. shwetagnema

    shwetagnema Active Member

    Joined:
    Jun 24, 2012
    Messages:
    252
    Likes Received:
    40
    Occupation:
    House wife
    now today this stock had a breakout.....is it right to enter in bharat forge with target 295 and sl 243
     
    shwetagnema, Oct 3, 2013
    Share #8
  9. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Target above 270 looks tough to me.
     
    shabbir, Oct 3, 2013
    Share #9
  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Now modify your stop to 245 and wait for will move if sustain above 270 and manage to cross 280.

    Best of luck
    :)
     
    sanjay_sansanwal, Oct 4, 2013
    Share #10
  11. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important

    Based on purely technicals even did not checked fundamentals.
    :)
     
    sanjay_sansanwal, Oct 4, 2013
    Share #11
  12. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    New entry I don't recommend cause bit risky.

    Those who r having positions should follow the levels.
     
    sanjay_sansanwal, Oct 4, 2013
    Share #12
  13. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Should touch 300 levels + - 5 points. as per technical chart and I do only what chart suggesting me to do.
     
    sanjay_sansanwal, Oct 4, 2013
    Share #13