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

Hindustan Copper

Discussion in 'Technical Analysis' started by sachinmore08, Sep 8, 2012.

Tags:
  1. sachinmore08

    sachinmore08 New Member

    Joined:
    May 19, 2012
    Messages:
    55
    Likes Received:
    0
    Today Hindustan copper just closed above its one of the resistance level of 265...i think it could be a good buy if it breaks out above 270 with stop loss of 260. Any opinion?
     
    sachinmore08, Sep 8, 2012
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    265 was not a resistance level at all and I prefer buying this stock only above 290 because trend is down in 2012 which I think has stopped provided 240 is not cracked.
     
    shabbir, Sep 8, 2012
    Share #2
  3. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Hi!
    Shabbir u r right about above 290 cause it is forming W and 290 will be w breakout but there is so many resistances @ near to that level and I think we should wait to breakout above 320.
    What do u think?
     

    Attached Files:

    • hind.png
      hind.png
      File size:
      69.4 KB
      Views:
      130
    sanjay_sansanwal, Sep 8, 2012
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    There are so many resistance because it was forming lower tops and lower bottoms but then bottoms are not very distant and so long term supports is also around 230.

    So all those 10 points resistance levels may be just a major resistance level of 300 level.
     
    shabbir, Sep 8, 2012
    Share #4
  5. sachinmore08

    sachinmore08 New Member

    Joined:
    May 19, 2012
    Messages:
    55
    Likes Received:
    0
    yes..got your point. Thanks you both.
     
    sachinmore08, Sep 8, 2012
    Share #5