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Hindalco

Discussion in 'Technical Analysis' started by krasquinha, Jan 16, 2013.

  1. krasquinha

    krasquinha Member

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    Hi Shabbir,

    Hindalco formed a W pattern on 10-Dec-2013 and it started moving UP. I feel its a good buy @cmp for the TG1 143.. TG2 155. Please let me know your view on this.

    Regards,
    Kiran
     
    krasquinha, Jan 16, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Kiran, the W formed in December is over and so you should be either taking position in December or wait for fresh pattern in this stock now.
     
    shabbir, Jan 16, 2013
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  3. krasquinha

    krasquinha Member

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    Thanks shabbir. it has a good support around 124.

    Regards,
    Kiran
     
    krasquinha, Jan 16, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Not very big support but intermediate support is around 125
     
    shabbir, Jan 16, 2013
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  5. krasquinha

    krasquinha Member

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    Hi Shabbir,

    hindalco broke 125 support. which is the next good support for hindalco ? is it 115 ?

    Regards,
    Kiran
     
    krasquinha, Jan 16, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    Yes 115 but such a long down tick suggest something is round the corner and so it is better not to go long on this stock around 115 but when it consolidates and then decide. For already long on this stock, you should have hit your SL
     
    shabbir, Jan 16, 2013
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  7. krasquinha

    krasquinha Member

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    Thanks Shabbir for your comment.
     
    krasquinha, Jan 16, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 17, 2013
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  9. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    I think we can short this stock below 104-105 as the major is seen here. If broken we can have good shorting opportunity.
    Please share your views.

    Regards
    Veren
     
    verenmitter2001, Feb 23, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Agreed. :D
     
    shabbir, Feb 23, 2013
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  11. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    Hindal co cracked it support
    What do you say we wait for few session or start shorting..

    Regards
    Veren
     
    Last edited: Feb 26, 2013
    verenmitter2001, Feb 26, 2013
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  12. shabbir

    shabbir Administrator Staff Member

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    Short but always in spike for max profits.
     
    shabbir, Feb 26, 2013
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  13. verenmitter2001

    verenmitter2001 Member

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    Shabbir
    For shorting stop loss 110 is right? or on second thought 105 should be ideal???

    Regards
    Veren
     
    Last edited: Feb 27, 2013
    verenmitter2001, Feb 26, 2013
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  14. shabbir

    shabbir Administrator Staff Member

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    110.
     
    shabbir, Feb 27, 2013
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  15. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    What's should be the target for this stock in shorting? And also how do u make targets in shorting??? Is it by joining tops of major resistance? Highest point is taken ???

    Regards
    Veren
     
    verenmitter2001, Feb 28, 2013
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  16. shabbir

    shabbir Administrator Staff Member

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    At least 1.5 times your stop loss value. So if you are ready to loose 10 Rs, you should have a target of 15 Rs.
     
    shabbir, Mar 1, 2013
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