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Vijaya Bank

Discussion in 'Technical Analysis' started by ilyasmohammed1, Oct 1, 2012.

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  1. ilyasmohammed1

    ilyasmohammed1 Member

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    continuation Flag pattern breakout with 200day EMA breakout...Strong ADX and RSI improving. Looking forward for your suggestions.
     
    ilyasmohammed1, Oct 1, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    No trade zone according to me cause trend change in last month only which can be reverse at any time and the strong support zone is too down @ 46 level and it is sitting on the high resistance zone
     
    sanjay_sansanwal, Oct 1, 2012
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  3. drsuraimardi

    drsuraimardi New Member

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    I think one should wait for making any trade in Vijaya bk.See the attached chart.
     

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    drsuraimardi, Oct 1, 2012
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  4. ilyasmohammed1

    ilyasmohammed1 Member

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    Its look like a breakout as per the attached chart and please correct where i am going wrong?
     

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    ilyasmohammed1, Oct 1, 2012
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  5. drsuraimardi

    drsuraimardi New Member

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    I think trend breakout occurred earlier.I am attaching my drawing.At this moment I am not sure whether flag is present...Thanks .Shabbir may please throw some light.
     

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    drsuraimardi, Oct 1, 2012
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  6. sujan4bw

    sujan4bw Member

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    You are right there is Flag breakout...but again it has got resistance in range of 61 -68.
    Watch weekly chart.
     
    sujan4bw, Oct 1, 2012
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  7. drsuraimardi

    drsuraimardi New Member

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    Thanks Sujan ! I have attached wkly chart above indicating those levels..
     
    drsuraimardi, Oct 1, 2012
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  8. sujan4bw

    sujan4bw Member

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    But stock is potential enough to move upwards ...looking at the pattern formed.
     
    sujan4bw, Oct 1, 2012
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  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi
    This not the correct way to draw trend line, to draw trend line just choose previous 2-3 highs if watching downtrend reverse in case of uptrend.
    See the attach chart to draw trend line.

    Yes trend has changed last month which mentioned in my 1st post.
     

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    sanjay_sansanwal, Oct 1, 2012
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  10. shabbir

    shabbir Administrator Staff Member

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    Entering trade would mean a Stop loss of 46 and so if you are fine keeping that as stop loss, you are fine getting into the stock but I think that is slightly more on the traders to have stop loss of 11+ Rs on a under 60 Rs stock.
     
    shabbir, Oct 2, 2012
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