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Praj indutries M pattern

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Aug 26, 2012.

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  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Praj indutries has form M pattern and break down 2days before even break its major support of 50, I think it is good to short @ cmp 47.95 with stoploss of 51.
    Share ur views.
     

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    sanjay_sansanwal, Aug 26, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Shabbir it is in FnO,plz check.
     
    sanjay_sansanwal, Aug 26, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    Yes my mistake. I was looking data of some other stock. Removed my earlier post just to avoid confusions.
     
    shabbir, Aug 26, 2012
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    So what is ur view on this?
     
    sanjay_sansanwal, Aug 26, 2012
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  5. shabbir

    shabbir Administrator Staff Member

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    Very weak stock and each spike should be used for shorting. You should not wait for supports to crack because they have been cracking for last 3 years. When shorting, you should always follow stops always.

    Shorting in spikes means more profits.
     
    shabbir, Aug 26, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Shorted praj 27 sep @ 48
     
    sanjay_sansanwal, Aug 27, 2012
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  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Not matured yet
     
    sanjay_sansanwal, Aug 27, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Done @ 48.20
     
    sanjay_sansanwal, Aug 27, 2012
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  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Covered @ 43.65, cause market is showing some uptrend and it not too far from my target which was 42.

    But Very good return.
     
    sanjay_sansanwal, Sep 6, 2012
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