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

Torrent pharma

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Aug 25, 2012.

Tags:
  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    I think Torrent pharma has form cup and handle pattern and it will be a good call above 712 with stoploss of 660.
    share ur views.
     

    Attached Files:

    sanjay_sansanwal, Aug 25, 2012
    Share #1
  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    No views, nobody like it or what ?
     
    sanjay_sansanwal, Aug 26, 2012
    Share #2
  3. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Possibly missed the thread.

    I don't prefer looking into cup and handle pattern but I always prefer to keep my patterns to the one that work and not apply all of them.

    According to me the trend is up. Stock support is at 670 and it has formed a pin bar twice touching 660 twice and so should be a good stock to buy before the breakout if you are anticipating a breakout in this stock. Ideally you should be doing this only if you are ready to take the risk of SL of breaking 660.
     
    shabbir, Aug 26, 2012
    Share #3
  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    I don't prefer looking into cup and handle pattern but I always prefer to keep my patterns to the one that work and not apply all of them.


    Can u tell us what is ur patterns?
     
    sanjay_sansanwal, Aug 26, 2012
    Share #4
  5. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    The one that I have in my book. Support and resistance, W's and M's, Higher top higher bottom and then possibly pin bar if taking up the reversal but that too very rarely
     
    shabbir, Aug 26, 2012
    Share #5
  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    But cup and handle is also in ur book shabbir.
     
    sanjay_sansanwal, Aug 26, 2012
    Share #6
  7. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    I look cup and handle more like a breakout just to make sure I don't read too many patterns. The opening line of that pattern in my book reads - it is more like a U or break out pattern.

    So we can use cup and handle as subset pattern and break out as super set pattern.
     
    shabbir, Aug 26, 2012
    Share #7
  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Can u describe pin bar in detail and also is pin bar sign show of trend reversal in both ways( up/down).
    Thanks.
     
    sanjay_sansanwal, Aug 26, 2012
    Share #8
  9. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Done that here.
     
    shabbir, Aug 26, 2012
    Share #9