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Bank Of India

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Jul 29, 2012.

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  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Bank of india has formed M pattern and breakdown @ 301 low of 18 may and today low is 288.
    I am going to short on monday Bank of india with stop loss of 322.
    What is ur view?
     
    sanjay_sansanwal, Jul 29, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Perfect but 260 is big support and so offload half position near that area and then if it cracks 260 you can ride your profit longer as well.
     
    shabbir, Jul 29, 2012
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  3. ravi

    ravi New Member

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    SL 322 or 302 ? Previous support is 301, now it should be resistance right ?
     
    ravi, Jul 29, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    302 and yes it will become resistance.
     
    shabbir, Jul 29, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Bank of India is still weak when market is possitve.
    I have shorted future bankindia 27sep @ 296 and now it is @ 287.
    should i cover or wait for few more days.
    share ur views.
     
    sanjay_sansanwal, Aug 9, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    I have shorted future bankindia 1lot(1000 shares) 27sep @ 296 today closed @283
    when bankindia was @ 292 today closed @279.95
    should i cover or wait for few more days.

    need ur views shabbir.
     
    sanjay_sansanwal, Aug 9, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    You can hold your shorts with a trailing stop loss.
     
    shabbir, Aug 10, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Covered my short @ 276.50 which shorted @ 296 on 30/7/12
    Cause @ 260 there is major support in equity and my target was 267 and now bankindia equity is showing reversal from 271.55.
     
    sanjay_sansanwal, Aug 10, 2012
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  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Bank india break down its major support of 260.
    Again we can short bank india @ cmp 254.80 with stop of 262.
    share ur views.
     
    sanjay_sansanwal, Aug 30, 2012
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  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Is it not interesting?
     
    sanjay_sansanwal, Aug 30, 2012
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  11. shabbir

    shabbir Administrator Staff Member

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    Yes it is.
     
    shabbir, Aug 30, 2012
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  12. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Thanks, I will do that tomm.
     
    sanjay_sansanwal, Aug 30, 2012
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  13. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Shorted 27 sep @ 257
     
    sanjay_sansanwal, Aug 31, 2012
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  14. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Booked loss @ 264 today.
     
    sanjay_sansanwal, Sep 4, 2012
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  15. sujan4bw

    sujan4bw Member

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    why did you book for loss....you could have hold it.

    else you could have gone short with one more lot at higher levels.
     
    Last edited: Sep 4, 2012
    sujan4bw, Sep 4, 2012
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  16. shabbir

    shabbir Administrator Staff Member

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    Holding beyond stop losses is not recommended and it could mean faked stop loss but then close below 260 would confirm that it was not fakey.

    Also going long and short in the same stock is never advised unless you are trading against the trend.
     
    shabbir, Sep 4, 2012
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  17. sujan4bw

    sujan4bw Member

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    Thx Shabbir for correcting my view on BOI.
     
    sujan4bw, Sep 4, 2012
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  18. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Sep 4, 2012
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  19. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Some time it happens and if we are ready to take profit at target then we should also be ready to take loss also.
    Dear sujan I think u r trying to tell me averaging by short more @ higher level, I was doing that before and have taken huge loss because of that and after that I learned not to average but better to book loss.
    Most important thing after break down @ 260 stock went 253.3 but after that it stuck and not going below when market is falling instead of falling it is going up with small up move of market and today it close above the major support of 260.
    I know market sentiments are week but to be in safe side I booked the loss @ my stoploss, may be I will again short bank of india but next time when it break 250 level.
    Thanks for concern but don't try to average any stock after hitting stoploss, It is my advise.
     
    sanjay_sansanwal, Sep 4, 2012
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  20. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hey Guys I have just checked my blocked sms and came to know 1 tip about Bankindia and that is
    Buy Bank india @ 258 for target 290 with stop loss of 253
    Sms time @ 1:56

    May be this is the effect of that sms but now I understand one more thing about tips provider they just give us call when they saw a little bit up move near the major support cause I don't think It will touch 290 in near term.
    just see.
     
    sanjay_sansanwal, Sep 4, 2012
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