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BF Utilities

Discussion in 'Technical Analysis' started by sujan4bw, Aug 22, 2012.

  1. sujan4bw

    sujan4bw Member

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    Hi All,

    BF utility is in medium term uptrend since 27th July. One can go long at CMP.

    Let me know your views. Its for short term, look the trend and book profits and take positions accordingly.

    Regards
    Sujan
     

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    sujan4bw, Aug 22, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    380 and 350 should be religiously followed as stop losses
     
    shabbir, Aug 22, 2012
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  3. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hey sujan plz don't consider it as symmetric triangle with one high and one bottom.
    It is forming ascending triangle but not breakout and most importantly it has strong resistance @ 490 and cmp is 445 and suppot it has @ 380-350. By ascending triangle support is around 420 and volume is builting but breakout is due @ 450-453.
     

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    sanjay_sansanwal, Aug 22, 2012
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  4. sujan4bw

    sujan4bw Member

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    Its only for short term, so can go for profit booking 450 -490 range.

    Two times its corrected and there is pull back two times too. If you see clearly there are three bottoms and highs and yet trend is intact since July 27th.

    In the range of previous high 435.5, there is small correction , pull back and also crossed 435.5 today.

    I don't give stop loss for following reasons.

    1.every one will have there own risk levels.
    2. People will not take positions blindly, they try to analyze and take the position and keep stop loss accordingly.
     
    sujan4bw, Aug 22, 2012
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