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renuka sugar

Discussion in 'Technical Analysis' started by find_honey008, Jan 8, 2013.

  1. find_honey008

    find_honey008 New Member

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    hi shabbir thanks for introduced me this forum because i learnt not a charts but also how to anlysis the stock. now i want to buy renuka sugar stock because it is making W pattern i think can i buy it for 34 for target of 38 please give me your view
     
    find_honey008, Jan 8, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes you can but make sure your stop loss is 30 as well.
     
    shabbir, Jan 9, 2013
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  3. krasquinha

    krasquinha Member

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    I think if it does not close above 34.2 , then it may for M pattern . Please comment.
     
    krasquinha, Jan 9, 2013
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  4. krasquinha

    krasquinha Member

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    sorry .. if it closes negative in 2 trading sessions then it will form a M pattern. For W pattern the breakout positive close should be above 34.3. Please comment.
     
    krasquinha, Jan 9, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    Agree on price but not on time. It can take longer to break above those resistance and that is perfectly fine.
     
    shabbir, Jan 9, 2013
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  6. krasquinha

    krasquinha Member

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    Renuka will form M pattern ... Please comment.
     
    krasquinha, Jan 11, 2013
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  7. shabbir

    shabbir Administrator Staff Member

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    yes well spotted.
     
    shabbir, Jan 11, 2013
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  8. krasquinha

    krasquinha Member

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    I think we can buy renuka now @cmp .... pelase comment.
     
    krasquinha, Jan 14, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Without entry point and stop loss it is difficult to comment.
     
    shabbir, Jan 14, 2013
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  10. krasquinha

    krasquinha Member

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    ST around 29.5 , TG1 of 34, TG2 38 ....
     
    krasquinha, Jan 14, 2013
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  11. shabbir

    shabbir Administrator Staff Member

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    No because it has formed an M and so I will wait for this stock to cross 34 by forming W with support of 30 for me to get into long position.
     
    shabbir, Jan 14, 2013
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  12. krasquinha

    krasquinha Member

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    thanks shabbir for your Guidance and feedback.
     
    krasquinha, Jan 14, 2013
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  13. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 14, 2013
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