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Hdil

Discussion in 'Technical Analysis' started by pravin_g, Jul 23, 2012.

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  1. pravin_g

    pravin_g New Member

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    Dear shabbir,

    Could you please see my observations on HDIL

    1) There was support at 81.7 to 82
    2) There are Considerable Volumes
    3) Today broke the above resistance and gap down opening.
    4) Today's candle went below Bolinger band of 20
    5) Moving averages still shows 20 (SMa) higher than 50 (SMA) (Not a good thing)

    In view of the above could I take short with a stop loss of 81.7 and immediate target of 72 and 62.

    Actually lot size is too high and I may just do a paper trading.

    Thanks

    Pravin
     
    pravin_g, Jul 23, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes but it was brokern in May as well and so not a support any more but yes it was a support.
    Volumes come in uptrend not in downtrend.
    Broke support and not resistance.
    Yes.
    Perfect
     
    shabbir, Jul 23, 2012
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  3. monilhathi

    monilhathi New Member

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    Hi Shabbir

    If, for ex, I already hold HDIL @81 and now if it goes down below support, can I then initiate a short to cover my losses and if so how do I do it on ICICIDirect or ShareKhan assuming I already own a lot of the same? I have never shorted any stock ever.
     
    monilhathi, Jul 23, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    No you cannot short in cash market and shorting is only an option in futures.
     
    shabbir, Jul 24, 2012
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