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Punj Llyod Head & Shoulder In The Making???? |
PrashantSarnaik
White Belt
Joined: 02 Dec 2010
Posts: 26
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Post: #1  Posted: Wed Sep 07, 2011 4:54 pm Post subject: Punj Llyod Head & Shoulder In The Making???? |
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I am attaching Daily chart of Punj Llyod, I can see head and left shoulder and right shoulder is in the formation stage. A close above 80 with huge volume will complete the formation. Though the stock is at 65 presently and for 80 will take months, but when it closes and sustains above 80 a new trend a new pattern to trade will be there.
Experts are welcome to comment and post their views. If the study is wrong or some part is missing they are most welcome to help me
Thanks guys
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kashidun
White Belt
Joined: 01 Aug 2011
Posts: 48
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| Post: #2 Posted: Wed Sep 07, 2011 5:40 pm Post subject: Re: Punj Llyod Head & Shoulder In The Making???? |
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| PrashantSarnaik wrote: | I am attaching Daily chart of Punj Llyod, I can see head and left shoulder and right shoulder is in the formation stage. A close above 80 with huge volume will complete the formation. Though the stock is at 65 presently and for 80 will take months, but when it closes and sustains above 80 a new trend a new pattern to trade will be there.
Experts are welcome to comment and post their views. If the study is wrong or some part is missing they are most welcome to help me
Thanks guys |
Never pre-empt the charts until it gives breakout. It made double bottom and reversed on 29 August. Now waiting for 80 levels for exit and buy again if it breaks the neckline.
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ronypan
White Belt
Joined: 07 Aug 2010
Posts: 197
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| Post: #3 Posted: Wed Sep 07, 2011 8:18 pm Post subject: |
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I think this is not a head & shoulder...
The area you have selected for head & shoulder is too wide and if its too wide then should go for weekly charts... But presently i do not see any head & shoulder pattern in this stock..
Patterns should be like this...
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #4 Posted: Wed Sep 07, 2011 8:29 pm Post subject: |
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| ronypan wrote: | I think this is not a head & shoulder...
The area you have selected for head & shoulder is too wide and if its too wide then should go for weekly charts... But presently i do not see any head & shoulder pattern in this stock..
Patterns should be like this... |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #5 Posted: Wed Sep 07, 2011 8:36 pm Post subject: Re: Punj Llyod Head & Shoulder In The Making???? |
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| PrashantSarnaik wrote: | I am attaching Daily chart of Punj Llyod, I can see head and left shoulder and right shoulder is in the formation stage. A close above 80 with huge volume will complete the formation. Though the stock is at 65 presently and for 80 will take months, but when it closes and sustains above 80 a new trend a new pattern to trade will be there.
Experts are welcome to comment and post their views. If the study is wrong or some part is missing they are most welcome to help me
Thanks guys |
all is well, just u r missing symmetry, supposed right shoulder is bigger than head itself
some experts call it h/s too, so it wud be wrong to say its nothing
but pattern should be so "beautiful" that u would like to stare and stare and it will reach the target and then u will say "oh shit... i forgot to enter"
just kidding brother, plz dont mind, it will work, but not so great like any copy book h/s
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S.S.
White Belt
Joined: 09 Feb 2011
Posts: 241
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| Post: #6 Posted: Wed Sep 07, 2011 8:56 pm Post subject: |
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i also thing this is not hns coz 2nd shoulder low is equal to the head .....so even in weekly it dont seems to be hns... but anyway punjlloyd is good buy call double bottom of 52.65 good bounce both time from that price.... closing abv 64.25 will move towards 77 support arnd 62 trg 72/77
i m attaching chart where u can see double bottom
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #7 Posted: Wed Sep 07, 2011 8:59 pm Post subject: |
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For me this version of punjlloyd eod makes sense.
one part can be bought around these levels with sl at latest low.
second part can be bought above 80 or the upper horizontal line.
thanks and regards
ravee
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