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a layman's approach to break out and break down |
sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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Post: #721  Posted: Wed Dec 15, 2010 9:45 am Post subject: JINDALSTEL 60tf.. |
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JINDALSTEL 60tf..
can break down Today.. A break below 670 can take it to 650...
However, I will go short below 677, and reshort below 670..
-Sumesh
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #722 Posted: Wed Dec 15, 2010 9:47 am Post subject: |
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hi sumesh,
thnx n welcome back buddy.
waiting for u to get back into trading.
meanwhile all the best with ur engagements
rgds
deeppak
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #723 Posted: Wed Dec 15, 2010 11:08 am Post subject: UTTAMSUGAR |
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UTTAMSUGAR ..60 tf...
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Formed AT.. A BO above 48 can be positive for this stock... Possible targets are 50 & 52. There could be some resistance at 48.6.. So watchout for that...
BO may or may not happen today.. But it looks a good setup to me...
-Sumesh
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #724 Posted: Wed Dec 15, 2010 11:09 am Post subject: Re: UTTAMSUGAR |
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| sumesh_sol wrote: | UTTAMSUGAR ..60 tf...
************************
Formed AT.. A BO above 48 can be positive for this stock... Possible targets are 50 & 52. There could be some resistance at 48.6.. So watchout for that...
BO may or may not happen today.. But it looks a good setup to me...
-Sumesh |
just going to post this 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #725 Posted: Wed Dec 15, 2010 11:53 am Post subject: Re: JINDALSTEL 60tf.. |
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| sumesh_sol wrote: | JINDALSTEL 60tf..
can break down Today.. A break below 670 can take it to 650...
However, I will go short below 677, and reshort below 670..
-Sumesh |
I have covered at 674.1 (hourly 89 ema support), and put a sell order at 670 again.. This time if it breaks 670, should tumble down by 10-20 rs...
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #726 Posted: Wed Dec 15, 2010 3:33 pm Post subject: Re: JINDALSTEL 60tf.. |
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| sumesh_sol wrote: | | sumesh_sol wrote: | JINDALSTEL 60tf..
can break down Today.. A break below 670 can take it to 650...
However, I will go short below 677, and reshort below 670..
-Sumesh |
I have covered at 674.1 (hourly 89 ema support), and put a sell order at 670 again.. This time if it breaks 670, should tumble down by 10-20 rs... |
662 was the low for today, though honestly speaking I myself got frustrated and jumped out at 666..
Uttamsugar was a big flop for me today (I will not enter low volume counter like this next time !) ..
Casper : Dabur did well today, I didn;t trade, did u ?
-Sumesh
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #727 Posted: Wed Dec 15, 2010 4:23 pm Post subject: |
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| hi guys,does any of u know of some forum where v can see a discussion on commodities like the one v have here.if yes plz oblige
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #728 Posted: Wed Dec 15, 2010 10:22 pm Post subject: |
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Hi Casper,
What you think about TataSteel 642......i think it may be a good short with a sl 652 target 625,615,605
Thanks
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #729 Posted: Wed Dec 15, 2010 11:39 pm Post subject: |
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| mrvishal_g wrote: | Hi Casper,
What you think about TataSteel 642......i think it may be a good short with a sl 652 target 625,615,605
Thanks |
with the sl, u can, every time in last 3 months it touched this level only to go down
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yawalkar
White Belt
Joined: 02 Oct 2010
Posts: 58
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| Post: #730 Posted: Thu Dec 16, 2010 1:28 am Post subject: |
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Hi Casper,
what is your opinion about hero honda?
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #731 Posted: Thu Dec 16, 2010 9:17 am Post subject: Re: JINDALSTEL 60tf.. |
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| sumesh_sol wrote: | | sumesh_sol wrote: | | sumesh_sol wrote: | JINDALSTEL 60tf..
can break down Today.. A break below 670 can take it to 650...
However, I will go short below 677, and reshort below 670..
-Sumesh |
I have covered at 674.1 (hourly 89 ema support), and put a sell order at 670 again.. This time if it breaks 670, should tumble down by 10-20 rs... |
662 was the low for today, though honestly speaking I myself got frustrated and jumped out at 666..
Uttamsugar was a big flop for me today (I will not enter low volume counter like this next time !) ..
Casper : Dabur did well today, I didn;t trade, did u ?
-Sumesh |
THANK GOD !!!!!!!!!!!!!
I didn't sell uttamsugar yesterday.. Squared off at 53 just now... maja aa gayaaaaaaaaaaa............
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #732 Posted: Thu Dec 16, 2010 9:26 am Post subject: SIEMENS |
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SIEMENS 60 tf.......
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Siemens in a ST...
Can break down.. watch out..
-Sumesh
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #733 Posted: Thu Dec 16, 2010 9:34 am Post subject: |
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Sumesh,
Check out ur call on Jindal stl......what do we call it rocking or cracking !!!
Awesome !!!
Deeppak
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #734 Posted: Thu Dec 16, 2010 10:01 am Post subject: |
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| deepakms wrote: | Sumesh,
Check out ur call on Jindal stl......what do we call it rocking or cracking !!!
Awesome !!!
Deeppak |
Yes Deepak
Even second target of 650 also met... Wonderful patter trading.. Thanks to Casper for this thread... 
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #735 Posted: Thu Dec 16, 2010 10:06 am Post subject: |
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Casper/Sumesh. When we draw a down trendline in Nifrty Daily chart from the high of 6300 to present levels, and draw a horizontal line connecting the lows of around 5700, it seems to be forming a Descending triangle.
Can you pls check and comment?
If correct, what can be the target and stop loss ? Can a short trade be initiated now?
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