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breakout

Discussion in 'Technical Analysis' started by shwetagnema, Oct 1, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    break out in aurobindo pharma after three tops at 195.....but next top is 205-206. so, is it a buy now or should we wait for it to go above 205.....target 230 and stop loss 170.
     
    shwetagnema, Oct 1, 2013
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    According to me wait for decisive breakout, even it seems to me that trend will change frm here and one more thing it @ very strong resistance too.
    :)
     
    sanjay_sansanwal, Oct 1, 2013
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  3. shwetagnema

    shwetagnema Active Member

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    thanks sanjay.......what change are u expecting, positive on longer/medium term are you expecting it to go down after this up move?
     
    shwetagnema, Oct 1, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes and so 205 can be risky bet.

    Wait for todays session to take 205 out or else it would be tough
     
    shabbir, Oct 1, 2013
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  5. shwetagnema

    shwetagnema Active Member

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    thanks sanjay, shabbir
     
    shwetagnema, Oct 1, 2013
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  6. shwetagnema

    shwetagnema Active Member

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    now it got the breakout from all previous levels......on the year high.....now what do u say about it.
     
    shwetagnema, Oct 1, 2013
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  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Big YES, go on.
    :)
     
    sanjay_sansanwal, Oct 1, 2013
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Instead of 170 u can use 195 as stop loss cause market is still in down trend.
    It will be ur choice only. If u see ur target that also suggest to put stop at higher.
    :)
     
    sanjay_sansanwal, Oct 1, 2013
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  9. shwetagnema

    shwetagnema Active Member

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    thanks sanjay
     
    shwetagnema, Oct 1, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Should be great trade.
     
    shabbir, Oct 2, 2013
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