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dhanlaxmi bank

 
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Author dhanlaxmi bank
Rahulsharmaat
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Post: #1   PostPosted: Tue Jun 04, 2013 8:21 pm    Post subject: dhanlaxmi bank Reply with quote

Can anyone advice --is this a right set--up


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vinay28
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Post: #2   PostPosted: Tue Jun 04, 2013 8:24 pm    Post subject: Re: dhanlaxmi bank Reply with quote

Rahulsharmaat wrote:
Can anyone advice --is this a right set--up


why not rahul. But check for entry point (5) green candle with >av volume.
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Rahulsharmaat
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Post: #3   PostPosted: Tue Jun 04, 2013 8:29 pm    Post subject: Reply with quote

thanks Vinay

Point 5 means-- the overshoot-- or it has to come again in channel
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vinay28
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Post: #4   PostPosted: Tue Jun 04, 2013 8:41 pm    Post subject: Reply with quote

Rahulsharmaat wrote:
thanks Vinay

Point 5 means-- the overshoot-- or it has to come again in channel


yes it has to pierce the lower TL (1-3 line) with a green candle with high volume. Volume is not visible clearly on the chart. May be you should look at weekly chart (if this is daily otherwise much higher tf) and see whether such a ww exists. I feel it may.

Only thing is point 3 is not below 1. But it may still work.
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Rahulsharmaat
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Post: #5   PostPosted: Tue Jun 04, 2013 8:49 pm    Post subject: Reply with quote

thanks

its on weekly chart also -- volume was at 48-- from where it dipped down to 38--- lets see- above--1--3 line means its 44 area--with volume---
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vinay28
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Post: #6   PostPosted: Tue Jun 04, 2013 8:55 pm    Post subject: Reply with quote

I checked it just now on daily and weekly. I feel it just might go to 35-36 before reversing and giving an entry in which case entry level will also go down. But limit target to 80-85 instead of 90. The good thing is +ve div on both daily and weekly.
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