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NTPC - W Pattern

Discussion in 'Technical Analysis' started by sujan4bw, Aug 11, 2012.

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  1. sujan4bw

    sujan4bw Member

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    Hi All,

    NTPC making new high and higher lows. Trend reversal from levels of 138 - 141 in the month of may.

    Its immediate support levels range from 147 - 150. It has W pattern and got breakouts pf previous highs 162 and 170.

    Volume also increased and going strong.
    I mentioned about NTPC in my earlier threads but not explained technically.

    Regards
    Sujan
     

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    sujan4bw, Aug 11, 2012
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  2. MANGONI

    MANGONI New Member

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    Dear sujan,

    ntpc : Is it weekly rising star scripts of augiii wk?

    Fine chart repo
     
    MANGONI, Aug 11, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    Yes but don't expect it to go much beyond 190 because that is very very good resistance sitting on that level
     
    shabbir, Aug 11, 2012
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Trend reversal u r right but @ 154 level, from 138-141 then 150 that is technical bounce back.
    Then W break out ur absolutely right and because of that I have bought @ 167 level with stoploss of 150, now intersting to see if manage to break out 176-180 and finely 185 which is my target.
     
    sanjay_sansanwal, Aug 11, 2012
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  5. sujan4bw

    sujan4bw Member

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    Trend reversal u r right but @ 154 level ? Can you be more precise on it please ?
     
    sujan4bw, Aug 11, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    I think after viewing the attached pic u come to know why trend reversal is @ 154.
     

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    sanjay_sansanwal, Aug 12, 2012
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  7. sujan4bw

    sujan4bw Member

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    Thanks sanjay for explaining. Also find attached print screen.
     

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    sujan4bw, Aug 12, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    I think this is clash of analyzing cause ur analyzing by Moving average and I am analyzing it by trend.
    But moving averages don't show us clear picture stand alone, you can see red arrows which I put in ur pic those are showing trend change but those signals are proved wrong only because of current range.
     

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  9. sujan4bw

    sujan4bw Member

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    Agreed. some time over analysis tend to overlook basics. :)
     
    sujan4bw, Aug 12, 2012
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  10. shabbir

    shabbir Administrator Staff Member

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    Follow one simple rule. KISS - Keep It Simple Silly
     
    shabbir, Aug 12, 2012
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  11. sachinmore08

    sachinmore08 New Member

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    Is it good buy at CMP of 171.15 with SL 160 ?
     
    sachinmore08, Sep 9, 2012
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  12. shabbir

    shabbir Administrator Staff Member

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    Better to buy above 175 with a SL of 160
     
    shabbir, Sep 9, 2012
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