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Uptrend -Buy

Discussion in 'Technical Analysis' started by kanburaja, Jan 21, 2015.

  1. kanburaja

    kanburaja New Member

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    Hi Shabbir,

    Suzlon is making double top and double bottom pattern and chart shows uptrend. Can we buy for target of 27, your comments please. Attached the chart for reference.


    regards
    Anburaja K
     

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    kanburaja, Jan 21, 2015
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  2. shabbir

    shabbir Administrator Staff Member

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    Technically they should be a good buy with a stop loss of 15. Let me know what are your levels to buy and what is your expected stop loss. Just target is not enough.

    But I have seen suzlon go from 450 to 6 Rs because of issues with the debt and Forex. So this could be a great stock to invest into for longer term of 10 years or so if they have all those on their back which can be confirmed in next year or so.
     
    shabbir, Jan 22, 2015
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  3. kanburaja

    kanburaja New Member

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    Buy at 17
     
    kanburaja, Jan 22, 2015
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  4. shabbir

    shabbir Administrator Staff Member

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    Technically I would avoid it.
     
    shabbir, Jan 23, 2015
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  5. kanburaja

    kanburaja New Member

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    Ok thanks, can you explain me how you took this decision
     
    kanburaja, Jan 23, 2015
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  6. shabbir

    shabbir Administrator Staff Member

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    Had too many down circuits and so I prefer to avoid such stocks technically. On top of that there isn't great ROI.
     
    shabbir, Jan 24, 2015
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  7. kanburaja

    kanburaja New Member

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    Thanks
     
    kanburaja, Jan 25, 2015
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  8. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 26, 2015
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