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Hyderabad Industries

Discussion in 'Technical Analysis' started by shabbir, Jul 31, 2012.

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  1. shabbir

    shabbir Administrator Staff Member

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    Hyderabad Industries Ltd is forming higher tops higher bottom for quite sometime now and has formed a breakout pattern.

    [​IMG]

    Yet another stock that should be in your watch list.
     

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    shabbir, Jul 31, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Confused

    I have seen 1 year chart and it is impressive it has breakout @434 and now it is @ 445, we can buy it with stop loss of 425 but after watching 2 years chart I got confused cause I have seen to many resistances @ 471,476,479.
    Can you please tell me how many years chart we should consider to analyse for support/resistance.
    Thanks.
     
    sanjay_sansanwal, Jul 31, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    When you look at 2 or 3 years charts, it shows a downtrend and then for last one year it is in uptrend and so current trend is up which means the down trend 18 months back is not anymore and so we should not be using those levels anymore but yes those resistance levels where user are stuck may act as supply zone.
     
    shabbir, Jul 31, 2012
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Booked 50% @ 470 and revise stoploss to my cost @447
     
    sanjay_sansanwal, Aug 9, 2012
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  5. shabbir

    shabbir Administrator Staff Member

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    Great going Sanjay :D
     
    shabbir, Aug 9, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    It is because you are educating us in a right way to trade in market.
    Thanks for teaching us.
     
    sanjay_sansanwal, Aug 9, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Aug 9, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    booked 25% @ 492
     
    sanjay_sansanwal, Aug 22, 2012
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