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Andhra bank

Discussion in 'Technical Analysis' started by drsuraimardi, Oct 19, 2012.

  1. drsuraimardi

    drsuraimardi New Member

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    Shabbir please share your views regarding buying opportunity in andhra bank.I think it has given breakout above a flag? Can it be bought at cmp for a target of 133 with stoploss of 103. However I have not bought the stock yet.Waiting for your analysis..Thanks !
     
    drsuraimardi, Oct 19, 2012
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  2. drsuraimardi

    drsuraimardi New Member

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    I am attaching the chart here
     

    Attached Files:

    drsuraimardi, Oct 19, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    For me it is no trade zone.

    A low of Jan and then in May but May Low was breached in September and so from March to September, it is more of a lower top lower bottoms.
     
    shabbir, Oct 20, 2012
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Long term out look is negative and about low top low bottom shabbir is right but somewhere it has to stop like high top bottom.
    And according to me short term trend is up till it above 105.
    Positional Calls can be initiate above 115 with stop of 105 for the target of 123-135-143

    Profit booking system :-

    Book 40% @ 1st target and revise stop to purchase price.

    Book 30 % @ 2nd target and revise stop to 1st target.

    Book remaining 30% @ 3rd target or start trailing with current/previous candle low whichever is low on closing basis .
     
    sanjay_sansanwal, Oct 20, 2012
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  5. drsuraimardi

    drsuraimardi New Member

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    Thanks Shabbir and Sanjay for your analysis.I admire Sanjay's way of profit booking and trailing SL specially in positional trades.Thanks both of you .
     
    drsuraimardi, Oct 20, 2012
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