iCharts Discussions

[kaisarimam96]

Dear All,
I have found 3 short trade opportunity using bollinger band and stochastic on daily chart. I am using daily chart so that whipsaws are minimum and only good trades are taken. This is not intraday trades.

Please offer comments / suggestions

1- Short Herohonda - Around 1788 Sl 1847 Tgt 1600

2 - Short Ranbaxy - Around 489 Sl 515 Tgt 440

3- Short Colpal - Around 900 Sl 920 Tgt 880

( Levels mentioned are futures price ) - Please see attached charts for technicals

[gur]

Till stochastic is embedded at top level it shows strength no shorting to be done for shorting stoch has to come below 50 line then short when after large red candle there is retracement of not more than 38 percent.

[gur]

Ranbaxy there is high volume breakout one should not go short till hourly stoch is in overbought state.