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lupin

Discussion in 'Technical Analysis' started by shwetagnema, Jan 25, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    it is making W pattern....target 630, with SL 570....what's your view?????
     
    shwetagnema, Jan 25, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Too early to predict a W, I only see a V
     
    shabbir, Jan 25, 2013
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  3. shwetagnema

    shwetagnema Active Member

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    now...is it a time to buy this stock...W pattern, broken previous resistance of sep-oct....target 635 and SL 570
     
    shwetagnema, Jan 28, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Target of 635 is not ideal because it means you are just selling above resistance and that is when it would actually shift gears and move further up.
     
    shabbir, Jan 28, 2013
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  5. shwetagnema

    shwetagnema Active Member

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    i agree with you on the target part.....i felt it because of trend line. i know resistance level is 632..... that's why i'm not able to fix the target....what do you think should be target?
     
    shwetagnema, Jan 28, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    630 as first target and then see if resistance is taken out then target should be around 680 odd levels or else if it does not hold with a trailing stop loss.
     
    shabbir, Jan 28, 2013
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  7. shwetagnema

    shwetagnema Active Member

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    ok thanks shabbir
     
    shwetagnema, Jan 28, 2013
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  8. vishuhd1

    vishuhd1 Member

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    Lupin seems to be making a triple top pattern at around 627 levels.. Keep a watch on this stock.. If the stock doesn't decisively breaks 627 levels, then a more downside could be seen in this and its could be a good candidate for shorting then..
     
    vishuhd1, Mar 22, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Perfect. :D
     
    shabbir, Mar 22, 2013
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  10. shwetagnema

    shwetagnema Active Member

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    now since today it has broken the previous resistance level and gone upto 638, what's your view for the stock
     
    shwetagnema, Mar 25, 2013
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  11. shabbir

    shabbir Administrator Staff Member

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    If you ask me it is breakout.
     
    shabbir, Mar 25, 2013
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  12. verenmitter2001

    verenmitter2001 Member

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    hi shabbir,
    Can we enter this stock at present level with stoploss of 620.

    Regards
    veren
     
    verenmitter2001, Mar 28, 2013
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  13. shabbir

    shabbir Administrator Staff Member

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    Stop loss should be 570
     
    shabbir, Mar 28, 2013
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  14. sainath85

    sainath85 Member

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    How did you arrive at stop loss of 570?
     
    sainath85, Mar 28, 2013
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  15. shabbir

    shabbir Administrator Staff Member

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    From the Bottom leg of W in the attached chart
     

    Attached Files:

    shabbir, Mar 28, 2013
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  16. sainath85

    sainath85 Member

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    @ Shabbir If the stock holds above 620 for next few trades..shouldnt the support be at 620?
     
    sainath85, Mar 29, 2013
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  17. shabbir

    shabbir Administrator Staff Member

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    That would be the support but now the support is 570 and so until fresh support is formed you should be using the Stop with current support.
     
    shabbir, Mar 29, 2013
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