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Break out

Discussion in 'Technical Analysis' started by yankeedin, Nov 5, 2014.

  1. yankeedin

    yankeedin Responder

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    Tech Mahindra has given breakout above 2550.

    can be bought with sl of 2450, target 2800
     
    yankeedin, Nov 5, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes very nice breakout but then I would prefer to avoid because there is no good ROI because don't see any support level being formed and 2200 is too down from CMP.
     
    shabbir, Nov 6, 2014
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  3. yankeedin

    yankeedin Responder

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    Yes... agree no support level at the mentioned sl.

    its only for very short term perspective. so kept sl from where it had a gap up jump
     
    yankeedin, Nov 6, 2014
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  4. jignesh_acharya

    jignesh_acharya Active Member

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    Ideally it is true to set the stop loss from where it is gap up and it has broken its earlier two resistance, so it is good to buy
    But how did you calculated the target?
     
    jignesh_acharya, Nov 7, 2014
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  5. yankeedin

    yankeedin Responder

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    simple, target will be always say 5% for 1st target and 10% for 2nd target.
     
    yankeedin, Nov 8, 2014
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