1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Delta Corp

Discussion in 'Technical Analysis' started by sachinmore08, Sep 15, 2012.

Tags:
  1. sachinmore08

    sachinmore08 New Member

    Joined:
    May 19, 2012
    Messages:
    55
    Likes Received:
    0
    Delta Corp has broke out from its resistance of 65 with very good volume and could be perfect buy at CMP ....guys pls provide your opinion abt this stock.
     
    sachinmore08, Sep 15, 2012
    Share #1
  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Yes with small stop loss 0f 64.5
     
    sanjay_sansanwal, Sep 15, 2012
    Share #2
  3. sachinmore08

    sachinmore08 New Member

    Joined:
    May 19, 2012
    Messages:
    55
    Likes Received:
    0
    why not SL 62...it is showing good support at that level?
     
    sachinmore08, Sep 15, 2012
    Share #3
  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    U can see delta corp is sitting on major resistances, from April to till date it is doing zig-zag between 70 to 50.
    Actual stop should be 54-50 but that is too far so aim less with small stop is safe bet here.
    64.50 stop loss instead of 62 is because it has given break out @ 65 and closed @ 67.65 and the previous candle low is 64.55 and if it break this then it may break 62 as well and may test 55-50 level again cause it is in range after a down trend and better to put small stop loss or choose 50-51 for safe bet.
    This is my views only, u can consider others view too.
     

    Attached Files:

    sanjay_sansanwal, Sep 15, 2012
    Share #4
  5. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Looking at the charts I think stop loss should be 61 and though we all have different numbers mathematically (62 / 61 / 64.5) everything boil downs to not cracking 60 because it is that level above which stock has spent some time.
     
    shabbir, Sep 16, 2012
    Share #5
  6. sachinmore08

    sachinmore08 New Member

    Joined:
    May 19, 2012
    Messages:
    55
    Likes Received:
    0
    Actually I feel that it consolidated between 61-62 zone for quite some time so I see that price range as strong support. if it breaks below that range then exit call should be taken. .
     
    sachinmore08, Sep 16, 2012
    Share #6
  7. kaisarimam96

    kaisarimam96 Member

    Joined:
    Aug 14, 2012
    Messages:
    45
    Likes Received:
    7
    Stock price has given breakout in past also i.e 2 July 2011 . It crossed previous high of 68.7. Later break out proved false break and stock dipped below. Shabbir sir can guide how to safeguard against that kind of false break. There must be some footprints of smart money which can be read.
     
    kaisarimam96, Sep 17, 2012
    Share #7
  8. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Stop loss. You should had a stop loss of 60 and that is when you saved yourself from big loss.
     
    shabbir, Sep 17, 2012
    Share #8