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Essar Oil

Discussion in 'Technical Analysis' started by cbpancha, Oct 16, 2012.

  1. cbpancha

    cbpancha New Member

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    Dear Shabbir,

    I have done my first technical analysis of Essar Oil for swing trading

    Please correct me if I am wrong.
     

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    cbpancha, Oct 16, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    I saw you posted the same in Infosys thread and I deleted that post.

    Coming back to your Analysis I am not able to get it. What is your SL and Target.

    According to me SL should be 57 with target of 74.
     
    shabbir, Oct 17, 2012
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  3. cbpancha

    cbpancha New Member

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    Sorry sir I have by mistakenly posted in Infosys.
    My stop loss is mentioned is 56 ie. 1 less than low And target I have set 5% of last close ie. 64

    Please guide me how to calculate target. If you could explan me with some example than it will be bettre for me.

    Thanx
     
    cbpancha, Oct 18, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Target should be multiple of your SL amount.

    If your purchase price is 65 then your SL of 56 means you are ready to loose 9 Rs and so your target should be 65+9 or 65+18 or 65+27 and so on.
     
    shabbir, Oct 18, 2012
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