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finolex industries

Discussion in 'Technical Analysis' started by shwetagnema, Feb 17, 2014.

  1. shwetagnema

    shwetagnema Active Member

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    today it formed a new high after previous high of 179.5. after it's breakout, it's a buy if it sustains above this level for the target 220 and SL 153
     
    shwetagnema, Feb 17, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Stop loss and target does not produce good ROI and so I would avoid this breakout
     
    shabbir, Feb 17, 2014
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  3. shwetagnema

    shwetagnema Active Member

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    just for the understanding sake......you are saying less ROI because it rose suddenly from 153 to 183 in very few sessions and thus we should not expect much high in this stock and wait for some king of consolidation to happen. am i right?
     
    shwetagnema, Feb 17, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    No. What I mean is with stop loss of of 153 and CMP of 184 means a loss of almost 30+ Rs which means the target of +30 Rs means target of 224 and that too on 1:1 ratio of loss to profit looks stiff to me.
     
    shabbir, Feb 17, 2014
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  5. shwetagnema

    shwetagnema Active Member

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    ok understood...thanks
     
    shwetagnema, Feb 18, 2014
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  6. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Feb 18, 2014
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