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

L&T

Discussion in 'Technical Analysis' started by krasquinha, Jan 18, 2013.

Tags:
  1. krasquinha

    krasquinha Member

    Joined:
    Jun 3, 2012
    Messages:
    199
    Likes Received:
    7
    Hi Shabbir,

    Can i consider this as the valid M pattern. Can I go short on this stock ? Need your advise about this stock.

    Regards,
    Kiran
     

    Attached Files:

    krasquinha, Jan 18, 2013
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Yes an M is formed and perfect candidate for shorting and your stop when shorting should be 1650
     
    shabbir, Jan 18, 2013
    Share #2
  3. krasquinha

    krasquinha Member

    Joined:
    Jun 3, 2012
    Messages:
    199
    Likes Received:
    7
    Thanks Shabbir. Its a huge SL, what will be the target ? Is it around 1445 ? Please advise.
     
    krasquinha, Jan 18, 2013
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    No target would be huge as well which is 1300 but then it is very risky trade and if you are not sure make sure you just do paper trading in it.
     
    shabbir, Jan 18, 2013
    Share #4
  5. krasquinha

    krasquinha Member

    Joined:
    Jun 3, 2012
    Messages:
    199
    Likes Received:
    7
    Thanks Shabbir. I will do paper trade. Thanks for your advise.


    Regards,
    Kiran
     
    krasquinha, Jan 18, 2013
    Share #5
  6. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    The pleasure is all mine.
     
    shabbir, Jan 19, 2013
    Share #6